Bangalore, the capital of Karnataka, has received various nicknames that reflect the different worlds it offers to different types of residents. While some call this city the ‘IT Hub’ or ‘Silicon Valley of India’ for the IT companies it houses, others have given it the name of ‘Pensioner’s Paradise’ or the ‘Land of Gardens and Lakes’ for its well-planned open spaces. The city’s IT hub attracts the engineers, IT heads, and entrepreneurs who migrate to this city to make it big in the IT world. The retired personnel flock here to enjoy the facilities for elderly that Bangalore offers on its plates. Others migrate here for the lovely climate and the high quality of life with inexpensive living. No matter what your purpose for migrating to the city is, you will get plentiful options while selecting and buying your new home in Bangalore. To make a smart property purchase, keep the under mentioned things in mind while planning to buy property in Bangalore.
- Where Is The Property Located: The location of the property should be the first thing to be considered while buying property in Bangalore. There are various localities in the city that have gained prominence. For those looking for residential property in Bangalore to enjoy the high living standards, areas like Indira Puram, Koramangala, Malleswaram, Hebbal, and Jayanagar are the most preferred ones. The IT professionals looking for property in Bangalore can opt for localities like Whitefield, KR Puram, Electronic City, and Marathahalli. These localities are upscale areas of Bangalore that also have offices of several software companies. Before buying property in Bangalore, make sure that you’ve chosen the right locality based on your living requirements and conveniences.
- What Is The Legal Status: With the graph of unscrupulous activities in Bangalore going high, it is important for the property buyer to check the legal status of the property before making a purchase. The property plans should have the government approval and are built in accordance with the laws set out by RERA. Ensure that the builder is not violating any laws and has the full ownership of the project. Other things to check are the reputation of the builder, NOC from water and electricity authorities, and the agreements mentioned in the sale brochure. In short, ask the real estate agents in Bangalore to provide you with the documents like title deed, sanctioned building plan, tax paid receipts, occupancy certificate, mutation document, and encumbrance certificate etc., and examine them thoroughly before buying a property.
- What Is The Connectivity: The traffic problem in Bangalore is an everyday routine. Before buying property in Bangalore, it is important to check the connectivity of the locality. It should be seamlessly connected via Metro to avoid getting stuck in heavy traffic jams. Apart from the metro, also ensure that the area is well-connected via the Bangalore Metropolitan Transport Corporation (BMTC). Moreover, it is also advisable to buy property in an area that is not nearby the heavy traffic prone zones like Outer Ring Road, Koramangala, Old Madras Road, Madivala, Kumaraswamy Layout, and Kamakshipalya.
- What Is the Land Worth & Appreciation Rate: While buying property in Bangalore, you should consult the top Bangalore real estate agents to know the land worth and appreciation rate of the area. Personal research about the land is also indispensable for a smart purchase. See the appreciation graph of the area in the past and the change the price trend has witnessed. This would help you get an idea about the appreciation rate of the area and you can be assured that your investment in the property would fetch great returns. Similarly, the land worth of the locality should also be kept in mind to ensure you are not being fooled by any unscrupulous builder or developer in Bangalore.
- What Are The Property Specification & Utilities: The property specification is another thing that should be kept in mind while buying a home in Bangalore. See for the property specifications like the carpet area, built-up area, super built-up area to know what the actual area of the house is. Moreover, also see for the utilities like electricity, water, drainage, waste disposal etc., to ensure that you do not face any other problem after buying the house. Lastly, you should always cross-check the specifications given in the sale brochure with the actual area to make a smart purchase.
Buying property is one of the biggest investments in life. Therefore, research must be done and care should be taken to ensure that you buy the best property that not only fits your property requirements but also offers high returns on investment in future.