Bangalore- a sprawling city to invest in real estate

Bangalore, the capital city of Karnataka, provides a very attractive investment option. This place is showing a constant growth in the IT/ ITes market in recent past. Moreover a positive career growth in this city is increasing the migrant population. The buyers interested in residential property have an investment in properties approximately within Rs 50 lakhs. Most of them are interested due to the sprawling career option with reasonable property prices. The option of rent out property is also an opportunity of return investment. Statistics shows that the unsold inventory of Bangalore is very less compared to other metropolitans in India.

A right place to retire at old agewoes

Are you thinking about Bangalore to retire? Then it must be said that Bangalore has been pointed as the pensioner’s paradise. With the opportunity of the cosmopolitan cities, it also extends the city’s green cover to high extent. Cultural centres in the lap of nature have made it the paradise for anyone to spend a quality life. Better maintenance of such amenities has been encouraged for a growing demand. Luxurious projects are thus the main attractions of the real estate developers. Most of the residential ongoing projects in Bangalore which are 80 % complete are already sold. The unsold inventory covers the projects completed less than 40%.

Ongoing projects at Bangalore are showing positive response

Being a hot spot for the property investors, Bangalore is turning up with many positive points. The connectivity and accessibility of the places is the main reason behind the hike. Bangalore has been divided into zones which are popular for different sectors. The northern part of the city is a hotspot for the central business growth. The commercial spaces in these areas are highly absorbing. So the residential blocks here are the luxurious ones rating near to Rs. 1 crore or above. Flourishing IT/ITes industries are getting the waves up in these sides.

For meeting the demand of the real estate for variety of purposes, Bangalore has been viewing many upcoming projects. The areas that are now the booming ones are Vartur, Jakkur, Sarjapur and Atibele. For the luxury apartments places like the Thanisandra, Hennur Road, Hedge nagar are the popular spots. East of Bangalore is the growing IT hub with more demand for commercial spaces. Residential surrounding this are offering immediate return. Start-ups are also being attracted to such places for appositive growth backs. If anyone is thinking of setting up at Bangalore, then it is the right place.

Right search through right channel

Many real estate companies are going through many residential projects. Many investors are showing great interest in this city. Not only investors, many individuals are planning to migrate to this city for a better prospecting life. Many are crowding for the educational qualifications and professional demand. Search for the ongoing projects in any real estate property investor’s websites. But one must keep in mind the requirement of the individual before investing in any such project. This would help in a better future prospect and positive development. Thus get the right project for right investment.

How to deal with builders for property related issues

Owning a home is a milestone in everyone’s life. But many innocent buyers fall into the traps that plague the real estate business world. Dealing in real estate is a smart game as one need to keep his eyes and ears open to escape from these two-faced dealers.  One needs to be diligent to get a good deal and to buy affordable flats in Bangalore or in any other Indian cities. All legal papers in connection with the property must be verified before one signs an agreement with the builder.

affordable-flats-in-Bangalore

CREDAI (Confederation of Real Estate Developers) Bangalore, which is a charter of CREDAI India is a governing body of builders and is working towards forming a group of quality builders who sell properties and low budget flats in Bangalore to the buyers. CREDAI consists of builders who aim to provide transparency and promote real estate industry in the right way. All CREDAI members need to follow some code of conduct as if they should maintain uniform clauses for agreements on construction of the property, the timeliness in the completion of the project, the approvals, area utilization etc.

Even when all these rules and norms are present, many fall into the false traps and become prey to the frauds. It usually happens when people go around looking for cheap flats in Bangalore, and get cheated by builders who doesn’t care about quality aspects. Here are some important points to keep in mind while you deal with a builder or when your under construction property is in dispute.

  1. Approach the builder directly, as most of the builders are customer oriented. They focus on the customer’s interest always. As the builders are obliged to provide the details on the issues of the property to all customers, they have no other way than to address your concern.
  2. If the builder is not directly solving the problem, then one can approach CREDAI, if the builder is a member. A complaint can be filed in the CREDAI through the customer Redressal forum. When the forum takes up the complaint, then they will enquire with the builder and ask them to take necessary steps to resolve the issue. The builder is supposed to get back within the stipulated time mentioned. If the builder is not responding and if the matter is genuine, then CREDAI takes action like, the committee can call up a meeting with both parties.
  3. If the customer is Bangalore based and wanted to solve their property related issue, then he/she can approach other organizations like National Realtors Association (NRA) which have a branch in Bangalore called the Bangalore Nations Realtors Association India.
  4. If the builder is a non-CREDAI member, then the consumer court is the best to be approached for to protect the consumer right. They will help consumers to deal with unfair practices happening in the consumer world. The committee investigates the cases and a board decides the verdict depending on the circumstances.
  5. Legal actions are the last resort, which a consumer do to battle against the builder. But if you are filing a civil case it may take a long time to get settled.