Buying A Flat In 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 homebuyers 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 emphases made on the affordable housing segment while on the other side the luxury property market is also taking a positive turn.
The supporting facts could be a high migration rate, growing industrialization, or expanding business hubs.
5 Step Guide To Buying A Flat In Bangalore
There are many important aspects to keep in mind while buying a flat in Bangalore city; below are a 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 thorough research on the projects available, builders, and the current economy.
All these factors are interconnected thus, it becomes imperative to have an idea about all of these. Further, you can also approach a trustworthy real estate agent or logon to a real estate portal to dig out the best of the property deal.
Another case is that if you are an ex-pat who is new to Bangalore then it is advisable that you do thorough research on the locality where you want to get settled and make use of your social network to help to explore the city.
2. Look Out for Resale Value
Another option that can catalyze 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 the neighborhood, 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 the 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 the 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 by 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, or non-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.