As far as I knew, a RERA registered property was enough to legally proceed in constructing a house or building but then I came to know about HMDA. HMDA is the abbreviation for
Hyderabad Metropolitan Development Authority. RERA is the superior authority that regulates HMDA. So to answer
is it safe to buy
HMDA
approved plots, I will say yes it is. Investing in such plots comes with guaranteed infrastructure development so it's safe to invest here. Let me highlight some other facts on this same topic.
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What is LRS?LRS stands for Layout Regularization Scheme and under this scheme, all illegal layouts and plots can be regularised. Its main aim was actually to stop the illegal construction or use of empty plots.
Is LRS compulsory for HMDA plots?Now the next question one can ask is if HMDA makes a plot or layout legal,
does
HMDA
plots require LRS as well? I too honestly had the same query so tried to know the exact answer. After a bit of study, I learnt that LRS is not compulsory but should be done. You will face no issue if you do not get the LRS for your HMDA plot but there is a problem. Banks will not provide you with any loan without LRS. other issues you will or might face are
Lack of regular water supply
No building permission
No registration of such plots by sale
So it's better to get the LRS done for your plot.
I hope this answers
is it safe to buy
HMDA
approved plots without LRS or not.
Read More:How to apply for LRS in Telangana?
How to pay LRS in Telangana?
What is LRS in Telangana?
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Authors Of The Question
Are HMDA Plots Safe?
Ishika
582 Views
1 Answers
2 Year
2022-12-24T21:42:59+00:00 2022-12-24T21:43:00+00:00Comment
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