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Saturday, 8 December 2007

Avoid Possible Scams in Land Banking...

Land Banking can be a good alternative form of investing into Real Estate. I personally have invested into Land Banking after doing my homework and due diligence.

However, before you invest, make sure you do your homework and avoid investing into possible Land Banking Scams. You need to acquire the Financial Literacy to differentiate a Real Deal from a Sham.

Let me give you some examples.

For instance, a foreigner CANNOT own land in India and/or China.

Thus, if someone try to sell you some land in these 2 countries, make sure you don't invest, it is likely to be a scam.

Canada allows foreigners to invest in land though. You can check and verify this yourself. Even Singapore does NOT allow a foreigner to invest in land.

if someone approach you to invest in Land in UK, but the land is in "Green Belt" (land reserved for nature and NOT for any building or construction), please don't invest also for obvious reasons.

However, what shocks me is that there are people in Singapore selling land in Green Belt in UK to investors and investors gladly invest in them.

The moral of this story is it is important to do one's homework before investing. Violating some of these investment principles would lead to one's misery in future.

Below is definition of Green Belt in wikipedia. Agan, if you know friends who invested in Green Belt land in UK, please wake them up as soon as possible. Their investment dream might become a nightmare in future.

Cheers!

Extracts from wikipedia.org on definition of Green Belt:

A green belt or greenbelt is a policy or land use designation used in land use planning to retain areas of largely undeveloped, wild, or agricultural land surrounding or neighbouring urban areas.

In those countries which have them, development in green belt areas is heavily restricted. The stated objectives of green belt policy are to:

protect natural or semi natural environments;
improve air quality within urban areas;

ensure that urban dwellers have access to countryside, with consequent educational and recreational opportunities;

and protect the unique character of rural communities which might otherwise be absorbed by expanding suburbs.

The Greenbelt has many benefits for people :

walking, camping, and biking areas close to the cities and towns.

places for wild plants and animals.

cleaner air and water

The effectiveness of green belts differs depending on location and country. They can often be eroded by urban rural fringe uses and sometimes, development 'jumps' over the green belt area, resulting in the creation of "satellite towns" which, although separated from the city by green belt, function more like suburbs than independent communities.

Green belt policy was pioneered in the United Kingdom in 1956 after pressure from the CPRE and various other organisations. There are fourteen green belt areas, in the UK covering 16,716 km², or 13% of England, and 164 km² of Scotland; for a detailed discussion of these, see Green belt (UK).

Other notable examples are the Ottawa and Golden Horseshoe[1], green belts in Ontario, Canada. The more general term in the U.S. is green space or greenspace, which may be a very small area such as a park.
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Cheers!

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