Things to Keep in Mind before Buying Property in Bangalore

Bangalore is a bustling city and the IT capital of India. Being the third-most populated city and offering many livelihood opportunities, there’s a never-ending demand here for living spaces. Apartments are the most sought-after homes due to the range of amenities they offer along with the security. The city offers a wide choice of properties that cater to different needs and tastes. Though the choices appear to be convenient, they can be quite tricky and confusing many times when buying a property in Bangalore. This article tries to lists the most important things that you need to take care of before buying a property in Bangalore.

Verify Builder’s Reputation

The role of a builder is vital in the real estate sector. There’s cut-throat competition in the sector due to the presence of several small builders as well as real estate companies who want to grab the market share. A lot of buyers get confused when it comes to choosing a property offered by a builder. There are instances when the dream of the buyer is crashed due to the failure on part of the builder to keep their word on providing promised facilities and amenities. Therefore it is pertinent on part of a buyer to check the credentials of the builder when buying an under-construction property. After all, isn’t buying a home a major investment in ones’ lifetime?

Location of Property

The location of property matters. You can change the interiors or the amenities or the size of your house, but one thing you cannot change is its location! Choosing a good location can be conveniently close to your workplace enabling you to avoid valuable commuting time. A good location can even change get infrastructure to unfold overnight. If location is known to create desirability and desirability to create demand, you can always expect the demand of your property go up in terms of value going forward. Thus, even if you have to pay a little more initially, buying in a good location can usher in profitable options ahead.

Verify Title of the Property

It is very important for you to check the title of the property when deciding to buy your property. The title should be clear. For ensuring this, you need to check thoroughly the documents related to it that include Sale Deed, Khata Certificate, Construction Plan, Sale Agreement, Encumbrance Certificate, Tax Receipts, etc. By checking that the property has a clear title, you will avoid any unpleasant surprises and legal complications. Further, you may even ensure that the property layout is approved by BDA, BMRDA, or BIAAPA. If the property is under construction, check whether the builder has a commencement certificate. You may even consider hiring a lawyer to ensure that you are not being taken for a ride by the builder or the seller. A lawyer is the best person to be check for any loopholes or discrepancies in the property documents involved.

Read Online Reviews and Get Word-of-Mouth Opinions

When you shortlist your property you should read online reviews or discuss the property with people around it. Interaction with potential neighbours can enable you to also find out who and how your neighbours are likely to be! Since the city has a cosmopolitan nature having a large mix of expats, you are likely to get different reviews and meet interesting people in the process too.

Verify Floor Plans, Facilities & Amenities Offered

New apartments, especially the ones under construction, come with several facilities and amenities that range from basic to luxuries. Always choose a property whose facilities and amenities you actually going to use. Ensure that the builder actually provides the facilities they have advertised. Looks can be deceptive. Just inspecting a property will not do, and it does not lead to a proper evaluation. By checking the floor plans will help to know every specific detail – especially its measurement and design. Further, getting an architect’s opinion will give you more insights into whether the property will receive sufficient natural light, proper ventilation, etc.

Foreseeing Property Resale & Appreciation Value

Once you have assessed and verified the location of the property and the facilities it offers, you will be in a good position to foresee its appreciation and resale value. Property buyers in Bangalore prefer higher floors in a multi-storey building - it not only provides a good view but also less affected by the pollution emanating from the roads around. Further, Vaastu-complaint properties that face east or north are preferred more. Keeping in mind these factors can allow you to foresee the value of your property in case you wish to dispose of it in the near future.

Negotiating with the Seller

Negotiating the price of a property is not an easy task especially when it concerns directly dealing with the builder. That is the reason most people in Bangalore rely on brokers to do this. Further, there are certain online groups that enable property buyers to negotiate with builders by using group discounts. Currently, post Covid-19 pandemic woes, and the Indian economy limping back to normalcy, the demand for property has remained stagnant but likely to pick up sooner than later. Those looking to buy their dream home can certainly take note of it and leverage the situation to their advantage.

If you are currently looking for a property in Bangalore in budget. Then Pride Pegasus is one of the best property that you can go for. You can contact NexPlaceRealty to get the best deals in Bangalore.