Tips to buy property in Bangalore in 3 easy steps

Follow 3 easy steps to own a suitable property in Bangalore

If you have no previous experience in dealing with real estate property, the process may seem complicated. It is true that in some aspect it is a daunting task, but buying a property follows some rules which make the process rather systematized. You have to be a bit assiduous and knowledgeable to grasp the best deal. You may have to spend months to find the flat or apartment that you or your family members were longing. Sometimes, you may feel tired and desperate to acquire anything that comes next. But all these are part and parcel of buying a property.

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Characteristics that will make you successful

New projects and ready to occupy apartments in several sites in Bannerghatta road or elsewhere may seem appropriate for your lifestyle, yet don’t take any decision in haste. It is a major financial decision that has a huge impact on you as also your family. So, be insightful in decision making and consult your family members and colleagues before taking the final decision. You should know certain things before dealing with developers and middlemen in this sector:

  • Always ask the question directly and crosscheck the answer whenever necessary. Don’t keep any doubt while buying a real estate property, it may be disastrous in future.
  • Deal smartly. It is necessary to state your price to the property owner particularly if it is a resale property. In the case of big housing projects too, never get satisfied with what the developer has been offering. Crosscheck what other buyers are getting or how they are dealing with the same condition.

3 easy steps to buy property in Bangalore

Here are the 3 steps to ease your property dealing process:

Step 1: Make the house hunting process easy by narrowing down your choice. It is easy, sit with your family and decide what kind of apartment and environment you all are looking for. Several new projects in Bannerghatta Road and several other new locations are underway. Narrowing down your preference will help you to select a suitable one from these ongoing or existing projects in Bannerghatta Road and other places.

Step 2: Apply for a house loan without delaying much. It may take quite some time to sanction the loan after meeting all modalities. Different banks have different types of offers and conditions. So, do a bit research and then apply for the most suitable one. You may have to pay several visits in this process.

Step 3: Decide how will you find a house? You may contact an agent or contact the developers directly. You can also contact the existing owner directly. All channels have some advantages and disadvantages. An agent can give you lots of options and save much of your precious time. On the other hand, contacting directly the present house owner can save some amount if you can deal smartly. So, understand your capacity and then decide a suitable process. If you have sufficient time in hand, you can explore all the three process.

Are ready to occupy flats a good choice?

The choice between ready to move in flats or under-construction properties needs to be thought through. If you find a good property in a location of your choice, it is likely you bypass ready-to-move in property. But, considering the present situation of delays in property possession, it is not always wise to invest in an under-construction property.

There has been a steady rise in demand for ready to move flats in Kengeri and other areas of Bangalore like Whitefield. While both locations are a contrast; Kengeri is a suburb location of Bangalore with a laid-back environment of coconut trees surrounding the area and Whitefield, a very famous, upcoming yet developed area of the city. This rise in demand shows an interesting trend in the realty sector.

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There are many reasons for home seekers to invest in a ready to occupy flats in Kengeri for example.

  1. Ready to occupy flats indicate a positive trend of reality investment in the said locality. It means that people are staying there and the occupancy is good. Property buying has reached to the next level if a realtor is offering ready to move in flats. The buyer also has an advantage of sourcing information through recommendations and word of mouth publicity.
  2. Another major reason is the convenience of moving into a fully constructed flat. It means the basic amenities are in place. It also means that the area and your neigbourhood is completely developed. There will be schools, hospitals, commuting options in the vicinity. In other words, you are paying extra-money (if at all) for instant comfort of shifting to a new home.
  3. When you are investing in a ready to occupy flat, it is obvious you are not making any compromise like staying in the best locality, having recreational facilities which you desire, or checking on security. So, thus the benefit of buying a home close to your office is your prime option too. The sooner you shift close to the office, the luckier you are.
  4. Ready to move in flats are mostly ready for possession too. It means you don’t have to wait for long to switch to your desired location. It is hassle-free in comparison to investment in under-construction project. Even the reputation of the builder cannot get a possession in time, if it is not meant to happen.
  5. When you are investing in a ready-to-move property, you know the house structure exactly. In other words, it is evident to you what you are buying. You can buy an appropriate size flat depending upon your personal requirement. It saves you a lot of time in searching for a property.

While all this means a positive feedback for ready to occupy flats, one important thing is to do a ground check on the facts. It is advisable to seek recommendations, and also, check on the construction quality of your home. You should not get anything less than what you asked for, especially when huge money is involved.

Tips to buy property in Marthahalli

Marathahalli in the south east of Bangalore is a sought after property location. Many projects in Marathahalli in this suburb location have been launched in the past few years. The various sites in Marathahalli are close to the outer ring road, Whitefield, and more prominently, the Electronic City.

There are existing and new projects in Marathahalli which is pulling the buyer to invest here. So, how do you know which are the best sites in Marathahalli?

We share few tips to buy property in Marthahalli:

  1. There are ready to move in flats of all sizes available in this suburb location. It is recommended to buy a flat of your choice by comparing online prices as the first step. Depending upon the built-up area, you can buy a suitable apartment for yourself.
  2. There are reputed builders offering a flat in the area. It is advisable to do a background check of the property you choose to buy. Again, you can use the internet or seek professional service of a real estate agent.
  3. There are many new projects in Marathahalli which may be under-construction too. It is important to seek clarification from the developer and know the exact time of possession.
  4. Before you invest in one of the sites in Marathahalli, it is good to study the locality trends. There is lot of infrastructure growth happening in the area. The prices are likely to appreciate, and this also means, you need to invest in time so that you don’t end up paying more for the same piece of land.
  5. Since there is a wide variety of residential investment options available, make sure you get maximum returns from your investment. While buying the property, you should keep a tap on the recreational and day-to-day facilities inside the gated society. It should ideally include a children play area, swimming pool, gymnasium, and other outdoor facilities. In addition, there should be a smooth operational lift, security, 24×7 power and water supply.
  6. Suburb locations are likely to offer very spacious flats. So it is good to observe the common areas and other living luxuries offering in the neighborhood too.
  7. Keep a check on the construction quality, which you can do by following certain steps. Check the quality of walls construction, bathroom and kitchen fittings, windows and doors fittings too.
  8. Also, check the occupancy factor when you decide to invest in a residential property. Higher the occupancy better is security and maintenance. It also helps the trust factor that you are investing in the right project.
  9. Word of mouth recommendation is your best shot. If you know somebody living in a society in the area, it is good to do a reference check, talking about the general locality areas and do a first-hand mapping of living in a society.
  10. Also, keep in the mind the commuting time to your office. Marathahalli has the benefit of being in proximity to outer ring road and IT Park. Still, it is good to do a connetivity check, by seeing the public transport in the area.

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.

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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.

A look at property market in Delhi

Are you planning to buy a property in Delhi? Before the decision-making process let’s check out some important tips at the time of buying properties in Delhi.

Area of the Flat:  You should check the area of the flat very carefully. It is called covered area. In Delhi, promoters are paid only for the covered areas, not for the super built up areas of the flat. But other than the covered areas there are few more factors are also involved. Depending upon all these factors builder will fix the amount to be paid by the buyers.

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Preference regarding floor: At the time of buying flat you should be very careful regarding the floor offered by the builder and floor preferred by you. Most of the people though prefer first or second floor most of the time.

Preferable location: This is a very vital point while selecting the flat.  Flat facing road, flat facing mall charged always high price but flats in a bit interior area or the bit away from the malls and the marketplaces can cost less in amount.

Affordability: Another important point is affordability off the buyer. The price of the flats depends on many things like locality, amenities etc. So completely depending on affordability limit one can select the best one to buy.

There are many other factors one should check before buying like nearest school, nearest hospital, nearest market and also transportation factors.

Other than these factors some precaution should be also taken at the time of buying decision. These are:

Property title: Do check the entire document regarding property and property title. Go for an inspection process regarding the original titles of the deed. Do search the land records and the records of the sub-register. Search all the papers of the society where the society is enlisted.

Inspection of the sanctioned plan: All the sanctioned plan of the builder should be certified by the authority, especially for those building under constructions.  Not only that, a buyer should collect the completion certificate of the building.

Power of Attorney: The power of attorney should be strictly scrutinized by the buyer. Sometimes the owner gives the power of attorney to the other person for any kind of decision making. The relationship between the owner and the power of attorney holder should be checked properly to avoid any kind of future harassment. All these above-mentioned steps should be followed carefully to have a safe and secure property purchase.

 

Rental flats management service in Gurgaon

Rental property management is a thriving business in India. There are a number of property owners who rent out their properties while they live in some other city or country. They need someone to take care of their properties as well as manage the renting process. Rental property management services offer a wide range of services to these property owners. Some of the services they provide include finding tenants, showing the property to customers, completing paperwork, collecting rents, monitoring of property, housekeeping, managing repair, and maintenance, dealing with residential associations or societies, etc.

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Gurgaon is a popular residential city where a number of housing options are available for rent. Property owners who have houses or flats for rent in Gurgaon can get the services of a number of top-class rental property management companies operating in the city say the experts at property.sulekha.com.

Prop deal

A leading property management company that provides services like advertising the property, background verification and rent agreement, house key management, rent collection, bill payment, and regular property inspection. Maintenance services include fixing plumbing, electricity, painting, gardening, house cleaning, and woodwork related problems. They showcase the rental properties to prospective customers by uploading professionally shot photos in property portals or sent as luxury mailers.

Blue Leaf

Offering comprehensive rental management services, this company helps the owners in finding the right tenants and managing the complete rental cycle. From supervising repairs, maintenance, and cleaning works to representing the owner for all property relates matters like property inspection and tenant issues, the company acts as a single-point-of-contact property manager.

Prop Manage

The company assists in tenant placement and related rental services. They maintain vacant properties and undertake innovatively and cost saving renovation work. The rental management package includes background verification, finalization of rent agreement, on-call repair and maintenance services, resolving issues between owner and tenant, and inventory checks during move in and moves out.

Per Square Feet

A committed team of residential property management services offers professional assistance in rental property management. They help in finding the tenant, manage legal issues, arrange for safety certificates, take up routine repair and maintenance, and attend to emergency situations any time of the day. Even when the property remains vacant, they oversee refurbishments and general management issues.

Renting Mantra

The company provides high-class rental management services that include customary property inspections, round the clock maintenance and emergency repairs, screening of tenants, effective marketing of rental properties, and maintenance of tenant security deposits and documents.