Family house is on a road that got widened a couple of years back, and now a broker is telling us we can sell it as semi-commercial for more interest from shop buyers. Before we list it that way, how do we actually confirm the property qualifies, rather than just going by the broker's optimism?
Road widening alone doesn't automatically reclassify the land use, that depends on the sanctioned master plan for that stretch. Check with the municipal planning wing what the current permitted use is for your specific plot, don't rely on what neighbouring shops seem to be doing informally. If the classification genuinely changed, get whatever documentation supports that before you market it as semi-commercial, buyers doing real diligence will ask for exactly that.
Will check with the planning wing before we put it on the market that way, appreciate the reality check.
Join Hyderabad Commercial Building Syndicate to ask and answer questions like this.
Sign in to join