Why to Buy a Residential Flat in Bangalore?

A good flat in Bangalore is required to ensure better architectural design and modern day amenities, as well as safety to the inhabitant. 

Tata New Haven incorporates all the aforementioned elements and attracts people with its captivating beauty. That is the reason why many working people are willing to invest in this property.

If you’re also thinking of buying a flat here, you need to consider the following reasons: 

1. You will enjoy a higher ROI on resale or rent 

-> Making an investment in Tata New Haven apartment will be beneficial for you even in the future.

-> As you’re likely to get higher ROI on its resale value in the future or even if you decide to rent your apartment for meanwhile. 

2. Better transport connectivity

-> Another reason why many people are ready to invest in a flat in Bangalore is due to the city’s better public transport connectivity.

-> Even app-based cab services like Uber, Ola, and Meru cabs are easily available for a daily commute. 

3. Affordable home loans

-> People are investing in good apartments in the city due to the stable real estate market, which makes apartments inexpensive.

-> Moreover, affordable home loan are available for working individuals at banks or other financial institutions.

To know all these reason in detail about why to buy residential flat in Bangalore if you are interested to buy flats, must apply for home loan in Bangalore from Bajaj Housing Finance now.

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Important Aspects to Remember When Purchasing a Property in Bangalore

Purchasing a property in Bangalore involves a lot of thinking. This is because buying a new apartment involves investing a lot of your savings. In a big city like Bangalore, finding an apartment which will serve all your needs is not an easy task. Even though there are projects like Sobha Avenue which cater to the needs of every buyer.

House-hunting in Bangalore involves going through a number of parameters, a few of which are as follows -

• Legal Matters

Before considering your apartment options, you must make sure that the projects you are considering are approved by the Government of Karnataka. This is because the Government has put certain laws in place for the benefit of the consumer from which no developer can deviate. It is thus essential to talk to the developer and ensure that they provide all the Government approved documents such as the clearance certification before investing.

• Reputation

You must conduct a bit of background check on the builder’s reputation before deciding whether to purchase or not. This can be done by going through the list of previous projects and customer testimonials to get a better idea of how good the builder is. You can either reach out to the people using online forums or by talking to them directly in person.

There are a number of lenders & NBFCs also available to finance your property purchase in banglore. By applying for home loan in Bangalore, you can be availing financing of up to Rs. 3.5 crores which can be repaid back in a tenor of up to 240 months.

Additional Read: Things to Remember When Buying Property in Bangalore

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Demonetization Effect on Bangalore: The Aftermath

The two biggest policies rolled out last year: GST and Demonetization have affected each Indian state equally. Kolkata’s real-estate is in shambles and so is the real-estate of Mumbai or Bangalore. It’s not that some cities were immune to Demonetization and some were not. The effect was widespread and even-handed.

So, irrespective of whether you have plans to buy a flat in Bangalore or not, 2018 is the best time for home buyers to invest in real estate property in Bangalore. The sales figures for 2016 plummeted down to a record low; causing a great downfall in the property prices. Also, a total of 13,134 units were sold in the third quarter of 2016. Whereas, the number came down to 7175 units in the fourth quarter which was approximately 45% less compared to the sales in the third quarter.

Speaking on the matter, Mr. Satish B N, Executive Director (South India), Knight Frank said, "After observing a peak in 2013, in the last two years, the city has come under considerable pressure. While launches were already on a decline, owing to factors such as the increasing unsold inventory in the city and BBMP's drive to confront the encroachment of lake beds, issues like the announcement of demonetization in Q4 2016 further led to curbing of new launches.”

Bottom line: Even though the market situation is not in favor of the builders and property, you, as a customer, can leverage from this golden opportunity and own a property in Bangalore by applying for home loan in Bangalore. Another thing which can make the process of buying a flat in Bangalore is a home loan. There are various financial institutions who offer home loan of up to Rs. 3.5 crores which can be paid back in a tenor of up to 20 years. The interest rates and terms and conditions, however, vary from one lender to the other. It is thus ideal to check what each lender has to offer thoroughly before choosing a lender.

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