All About Land – The Best Strategies to Buy Land
Land is classified as per the usage and development in real estate. Some of them are commercial, industrial, residential, mixed use development, SEZ, agriculture and government land. Most of the land is sourced by the government, who in turn classify it into different categories and auction it in the open markets. Un-productive land i.e. (cannot be used for agriculture and farming) is converted in to these zones for future development. I have seen some people who own large land banks, most land banks owners have a scattered form of land bank which makes it difficult to sell later, consolidated land parcels are better to handle and sell in parts, or collaborate with a developer to earn a larger profit. Sometimes it is more profitable to joint venture your land parcel with a colonizer or developer for residential and commercial development, rather than selling it. This is a better strategy to earn better profits, and also keep the land.
A few points you need to keep in mind while buying land, may be for industrial development, building your own dream house, setting up a resort, hotel or a simple investment.
1. The ownership title should be clean
2. The land should be transferable to your name
3. Ownership should be verified by a legal expert
4. The land should not be mortgaged
5. Free from all legal implications
6. Should be zoned as per the development
7. Local government records should confirm the ownership i.e.( industrial / commercial land)
8. Location of the land or residential plot
While buying commercial, industrial or residential land, involve a real estate agent who would show you a larger number of options available in the local market, to understand the price value and locations. Local neighborhood development, an over view of the future developments going to take place could give you a larger prospective on your investment.
Source by Prabhmeet Singh
- Published in TGC
Mobile Land Survey – Types of Surveys
Boundary Survey – This is a survey of property boundaries according to evidence such as recorded deeds, plays and physical presence. This does not involve interior improvements in regards to buildings or drives. The only improvements that are noted are those that affect the use of or the title to the property such as utilities, buildings along the boundaries, fences, sheds, streets, etc. If there are any missing corner markers then these are also replaced and a final map is created that shows the boundaries and improvements.
Location Survey – This entails the same as a boundary survey however this form of Mobile land survey includes all interior improvements. Like the boundary survey, corner markers are replaced and a final map is prepared that shows all the improvements and boundaries. This is the most common type of survey required where a loan or mortgage is concerned.
Topographic Survey – Not only does this Mobile land survey include improvements but also topographic features that include water courses, roads, ditches, contours, embankments and elevation. This is most commonly used for site design and development in construction or subdivision maps & plans.
Site Planning Survey – This combines the work done in boundary and topographic surveys to setup a base for future designs and improvements. Commonly used for additions or new home development, subdivision development, commercial land development, new streets, playgrounds, etc.
Subdivision Survey – This form of Mobile land survey involves a topographic survey on a piece of land that is set to be divided into small lots for the purposes of estate division or within a subdivision. This method is for construction and recording and can be used for site design, streets and drainage calculation.
GPS – This form of Mobile land survey utilizes a portable system to gather data that’s being transmitted by satellite. GPS is used to calculate the position of an object on the surface of the earth. These surveys are primarily used to establish control points based on coordinates for the State Plane Coordinate Systems, larger surveys used for subdivisions and boundary surveys on large tracts of land. This can also be used to gather data regarding the location of streets, residential and commercial buildings, utility systems, property lines, water courses, etc. The data obtained through a GPS Mobile land survey can be used in future planning and development of property as well as with preservation of existing land.
Source by Brian Badger
- Published in TGC
