Things to Check Before Buying Flat in Bangalore

Bangalore is a booming city and the center of India’s high-tech industry. The value of real estate in Bangalore is on the rise given its importance and popularity. Purchasing real estate in Bangalore is thus worth the investment.

The rising popularity of the city will offer ten times its purchase value in the future. Though investing in real estate is always considered sagacious, the benefits double in case of Bangalore. There are a plethora of property options in the city such as the Shriram Luxor. These are the top reasons to invest in a 1 BHK flat in Bangalore.

1. Safe investment option

The most significant reason to invest in a 1 BHK flat in Bangalore is because of its investment aspects. Investing in real estate is considered to be one of the best and risk-free investments. 

2. Lower maintenance cost and property tax

1 BHKs have lower property tax and maintenance cost. This saves the money spent on hiring someone to look after the flat.

3. Easily affordable

The number of benefits and comfort offered by flats justifies its rate. Also, many NBFCs offer offers low interest home loan along with extended tenure. They low EMI and extended tenure makes the cost affordable and extremely manageable.

These are some of the reasons to buy a 1 BHK flat in Bangalore. There are other reasons too, but these are most obvious.

Bottom line: Here are some reasons to buy a 1 BHK flat in Bangalore. These flats are worth every penny owing to the number of facilities and luxury it provides. Customers can also think of investing in the upcoming projects which will hold high value in the future.

Additional Read: Things to Consider When Buying 1 BHK Apartment in Bangalore

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3 Things to Consider While Buying a Flat in Bangalore

Given the fact PMAY housing scheme is valid till the end of this financial year, most people would be planning to buy a house in the next few months. If that’s true even in your case, below are some of the facts you must keep in mind before buying a property in Bangalore. 

1. Location of the house: Would decide the kind of returns you can expect from your investment in real-estate. The closer your house is to the center of your state’s capital city, property value appreciation rate is higher. 

Thus, pay proper attention to the location of your property while buying a flat in Bangalore. For instance, properties such as the Sobha Lake Garden is situated at a prime location, well connected with these modes of transport.

   

2. Dealer’s credibility: After the RERA act, no property dealer can sell a property without RERA registration. The dealer has to be registered and even the property needs to be RERA-verified. If you end up buying a property which is not RERA-verified, you might have a hard time getting approved for a home loan. Thus, gauge the credibility of your builder before buying a flat from them. 

3. Rate of returns and amenities: Last but not least, assuming your purpose of buying a flat in Bangalore is to sell it off later and earn a high ROI, you must ensure the property is available with value added amenities. These value added amenities will supplement your property’s resale value.

Additional Read: Five Things to Check When Buying a House in Bangalore

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Ways to Maximize Residential Property Yields

With Bangalore being a leading city in the real estate industry, it is now attracting investors who are willing to invest in flats in Bangalore - only if these apartments provide higher property yields and cover the full investment initially made while buying the property. There are certain ways how you can maximize your residential property yields.

Rather than investing a handsome amount of money on the exterior of the flat and high-end amenities which people might not even use to their fullest extent like a football ground or a wedding garden, focus on the interiors. Sprucing up the interiors of your apartment could give you potential rental yields that might shoot to as high as a percentage every year.

Now another factor that would define your return yields on your property is lits ocation. There are a few prime locations in Bangalore which are considered to be good for investments right now like Whitefield, Mallsandra, Hennur road, etc. Godrej Eternity is one such eminent property in Bangalore that sits near the Kanakpura main road, Mallasandra. It houses 2BHK & 3BHK apartments which are well designed and spacious.

They have amenities like a clubhouse, courtyards, activity terraces and green spaces sprawled across the area which makes it quite a good investment option. For those who are looking for flats in Bangalore, Godrej Eternity definitely comes up on the list, given its basic yet essential amenities and the correct balance between modern and essential facilities.

In Bangalore, there are most builder properties are Rera-approved and you can also avail instant housing finances to buy those properties through Bajaj Housing Finance and many more other financers.

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