Q1: Is this a good time to Invest in real estate?
In terms of stock market and the overall global recession, this is an excellent time to invest in Real Estate. We will see prices continue to move upwards over the next couple of years.
Q2: Isn't this agri-land? Can we build on it? Isn't it going against the very concept of an Eco Earth to build on it?
Yes, this is agricultural land and we can build on it, as long as you build a farmhouse within very strict specifications as laid out in our website. Further, the area of your plot has to be over 25 cents. In the normal course of events, most projects that have been attempted in Kodaikanal is planned to have anything between five to ten plots, on one acre of land. By ensuring that no plot is sold for less than 30 cents and by putting some strict eco-conservation practices into place, we are ensuring that the village is ecologically sustainable.
Further, since the land is under cultivation, no natural sholas are being encroached upon for this project.
Q3: Are there any benefits at all in buying agri-land?
To help the local farmer, guideline values have been kept at the barest minimum. Hence stamp duty on your plot will be low.
Further, since this is agri land you can expect some return in terms of revenue from fruits and vegetables.
Q4: I have heard that in Kodai, the land documentation is a mess. How do I know that the title deeds on my plot are clear?
Yes, this is true in many cases. However, we have our lawyers who conducted an actual research at Kodai and they have confirmed the patta etc. are clear of all encumbrances. We would also insist that you have our lawyers to talk to your lawyers for clarifying any doubts and get an independent title deed opinion.
Q5: In Maxworth Country, a plot I had proposed to buy was cut in half by a common road. Will I face a similar situation here?
A detailed contour map of the site has been done, based on which the roads are planned, and only after this different plots are marked. Therefore you will not face such a problem here.
Q6: At what point the land will be registered in my name?
Upon full payment of sale consideration and maintenance charge of Rs. 2,00,000 per field/plot
Q7: Are you not using my money to build the infrastructure? How do I know that my money is safe?
Major part of the infrastructure development is already completed and the remaining civil development is in progress.
Further, a process such as this works for your advantage since the cost of a fully developed plot could be as much as 50% higher than what you are paying currently. At Kodai, we have seen land prices go up by 300% over the last two years only because of infrastructure, in terms of a road to the inner plots has been completed. With continued building activity in Kodai this is expected to appreciate further.
Lastly, the promoters have invested huge amounts of time and money in meticulously planning this project over the last 3 years. This has led to a lot of tangible benefits for you, in terms of cost savings and the security of your investment.
Q8: What are the other costs I need to bear?
You need to pay the stamp duty when registering the land. This will work out to approximately 10% of the guideline value of the land.
You need to pay the deposit directly to the EB for your power connection. So also for your phone connection. (Cost of bringing the lines to the site will be borne by us).
You have to pay for the Patta to be transferred to your name at a later point of time.
The cost of rainwater harvesting and waste water management on your site will have to be borne by you. (This is a must for all cottages).
Q9: What about changes in Government policy on status of land and land acquisition? How am I protected?
You are not protected. However, in the unlikely case of this, you can take the matter up as an association and put more weight behind your case.
Q10: Is this project approved by the PHCC?
No this project is not approved by the PHCC. They have no authority to approve projects since they are a regulatory body.
Q11: Can I sell my property? Will you help me in selling it?
Yes you can sell as long as the property is not being sold in smaller plots. You need the approval of the Eco Committee to sell it. We can help you to sell your property for a small fee.