Making an investment in the Bangalore property market is definitely can be a good call, but caution is required while concluding to fetch good returns from the asset made. First-time home buyers in a place like Bangalore can witness really bad hard times choosing the best as there are a lot of options in the market. On one side there is a lot of emphasis made on the affordable housing segment while on the other side luxury property market is also taking a positive turn. The supporting facts could be high migration rate, growing industrialization or expanding business hubs.
There are many important aspects to keep in mind while buying a property in the city; below are few important points for your assistance:
1. Do a Research:
Before making an investment into the Bangalore real estate market it is important for you to do a thorough research on the projects available, builders and the current economy. All these factors are inter-connected thus, it becomes imperative to have an idea about all of these. Further, you can also approach a trust worthy real estate agent or logon to a real estate portal to dig out the best of property deal. Another case is that if you are an expat who is new to Bangalore then it is advisable that you do a thorough research on the locality where you want to get settled and make use of your social network to help exploring the city.
2. Look Out for Resale Value:
Another option that can catalyse the investment activity is nailing down a property that has a resale value. For this, it is advisable that you approach developing areas like Hebbal, Sarjapur road and Whitefield. The property that has a resale value may help you in reaping bigger benefits like putting the house on a better price and many more. Moreover, you must check aspects like neighbourhood, surrounding, proximity to the commercial and social infrastructure zones so that the future price appreciation looks palatable. After all investment in an asset comes with long term benefits and plans for future.
3. Establishing Limits:
By establishing the limits means setting your own boundaries for rotating the money effectively. Therefore, the key to making a good investment is proper calculation and thus it is important that you build a budget and stick to it. You can do certain things like listing out your requirements, (what you’re looking for in an apartment), checking out the locality, meeting the agents to get the best deal or checking out housing complexes located out there. Finally, compare the rates with your budget and pick out the one that matches all your criteria.
4. Streamline Your Papers:
This is one of the most important things that you should be keeping in mind while stamping YES on a particular flat or apartment. Your agenda to buy flat in Bangalore should be accompanied with entities like BBMP Approval certificates, flat’s Khata certificate and Encumbrance Certificate, all intact within the deal papers. You can approach a good real estate lawyer and verify the certificates and their applicability on a given property. Apart from this, it is advisable that you wrap up all your pending payments before the period mentioned in the Sale Deed and then get a sale agreement.
5. The Infrastructure:
Here infrastructure means making sure that the apartment you are thinking of buying is indeed your dream home and not a blast from the past. There may be cases where the apartment will look beautiful from inside but the real value which is the interior is missing. Check for improper furnishing, fading walls, bad carpeting ornon-existent furnishing. You are going to make an investment in a city’s property market; thus, it is important that you exercise your right in being choosy. Be a pro and look for the external as well as the internal aspects of an apartment before saying ‘yes’.
Buying a Flat in Bangalore not an easy task and it takes a lot of planning before signing the dotted line. Follow the above steps and assure a great deal in the dynamic real estate market of Bangalore.