Top Reasons that Make Bangalore a Prudent Option for Realty Investments

Bangalore, popularly known as the Silicon Valley of India, is augmenting the effects of growing IT developments, trade, commerce, startups, social infrastructure, online and digital businesses in the town. This unprecedented growth has trickled down and spread across various sectors in the city.

One of the several outcomes of this economic expansion is the swelling demand for residential and commercial properties in Bangalore. Apart from its self-expansion, there are some other reasons which make the real estate market of Bangalore one of the best investment avenues in India.

A huge chunk of the software engineers of the country is working in Bangalore. To add to this, the opening of many startups in the city has further augmented the employment opportunities in the city. Consequently, there has been a constant rise in demand for affordable housing in Bangalore. There are many residential projects like Sobha Lake Garden which can meet such demands perfectly.

Furthermore, owning a 1 or 2BHK flat in Bangalore can provide significant rental income as every year there is a massive influx of workforce from other parts of the country. The city is undergoing rapid infrastructural advancements. Quality public transport, great connectivity, good higher education, prestigious research institutes, and advanced healthcare, further adds up to the USP of the place.

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Why You Should Buy Property In 2019?

The demand for affordable housing has always been a consistent aspect of the real estate industry. What has evolved as a striking feature in recent years, is the rise in demand for the land or plots, especially at a time when apart from affordable housing, all other units of real estate sector were showing a sluggish trend.

Careful consideration of both the options is essential to arrive at a decision which is both pragmatic and beneficial. The first thing that one should consider is the cost of buying a plot/flat and to what extent the buyer can invest or arrange funds.

It is also important to consider the potential or expected value appreciation of the property. Considering the same location and dimensions, the increase in the value of the land will be higher and faster than a flat. However, in a space-crunched posh location, the value appreciation of a flat will be equally fast. Financial assistance is another relevant factor - it is easier to get loans for flats, as opposed to land.

Demand for rental housing options is prevalent in every Tier I and most of the Tier-II cities. For example, the sale of affordable flats in Pune has seen a tremendous increase in recent times. Projects like Shapoorji Pallonji Joyville are meeting the residential demands of the people with its range of amenities and has evolved as a prudent option for the investors and home-buyers alike.

Additional Read: How Investing in a Property a Good Idea?

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Some Tips For The One Who Are Looking To Buy Property In Bangalore!

Before you start hunting for properties, be certain about what your budget is. Take into consideration your current and future expenses, your monthly income and any ongoing loans or debts.

Also, before narrowing down on any property, it’s prudent to check that everything is done as per the Government regulations of the state as far as real estates are concerned. It is vital to verify that if the property has been built in compliance with the legalities or not. Even consulting with a lawyer is quite plausible in this regard. 

The next thing you need to do is make sure the location of the house you are interested in is well connected to the city. Research about the neighborhood, and what other developmental projects are ongoing nearby as those are bound to have an impact on your lifestyle sooner or later.

Must Read: Is it Worth to Buy a New House in Bangalore?

Check out all the amenities advertised, by the realtor, by visiting the site in person. A lot of times, advertisements are promising much more than what it is in reality. You need to be careful about these types of properties and steer clear of them.

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Challenges That You Have To Face While Looking for Affordable Property

Affordable Housing is widely gaining importance in all major cities of India. The Prestige High Fields located in Gachibowli is one of the most affordable houses for sale in Hyderabad. By buying flats in this housing project, you can automatically enjoy the best facilities at affordable rates.

The real estate sector, though, booming in India is fraught with many challenges. The land is becoming increasingly scarce in prime areas of most of the metropolitan cities. An unclear policy framework coupled with high fees and taxation, regulatory issues and corruption are restricting the much-desired projected growth of the real estate industry.

These handful problems are plaguing the real-estate sector and can be solved by implementing the regularised taxation system. Sustainable urbanization can remove many of the problems faced by the real sector. The focus should concentrate on improving connectivity and develop urban infrastructure such as creating new Metro rail, constructing highways, build mono-rail trains.

Must Read: How Investing in a Property a Good Idea?

Lack of access to financial services is another major hurdle faced by the homebuyers in India. Most of them do not possess the large capital required to purchase a house, and hence, refrain themselves from buying it due to inadequate financial solutions. However, with the introduction of favorable Government policies and coming forward of many NBFCs, the situation has improved drastically.

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Why NRIs Are Buying More Commercial Property In India?

Over the years, NRIs are increasingly investing in commercial properties in India. Also, many properties such as Pride World City are offering commercial spaces at a cost-effective price point. There are ample reasons why NRIs are heavily investing in commercial properties.

In the last few months, the value of the rupee has gone down as against dollar. This gives a good chance to NRIs earning in dollars to acquire more space at a lesser price. Be it booking flats in Pune or any other metro, NRIs can get a good deal.

Thanks to the implementation of policies such as RERA, the Indian real estate sector has become more transparent. Today, NRIs can track the progress of any project and builders can't take them for a toss. This has boosted their confidence manifold since they know every aspect of project development.

Must Read: Ultimate Property Buying Guide for NRIs in India

Also, the fact that the prices of commercial properties appreciate in the long run. So, should NRIs wish to sell their property in the near future, they can bag a profitable deal. This is another reason that has boosted the confidence of NRIs to invest in the country’s commercial realty sector.

Many firms in the country are on the lookout for commercial spaces for operations. If NRIs rent out a commercial property, it can become a source of secondary income for them.

Also, investing in a commercial property can secure an NRI's retirement. The rent earned from a commercial property can help NRIs to meet their post-retirement expenses and other needs. They can address various expenses once they hang up their boots.

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Navi Mumbai Or Thane: Which Place is Good for Your Investment?

Thane has an old-world charm and has established infrastructure for over 25 years. Navi Mumbai is a rapidly growing city and still has a long way to go. Both Thane and Navi Mumbai are serious contenders of each other as far as cleanliness is concerned. Improvements in roadways and railways are expected to ameliorate the transportation facilities.

Navi Mumbai is rapidly becoming an attractive real estate destination due to a large number of infrastructural projects. In contrast to Navi Mumbai, Thane offers a wide number of premium flats and cooperatives. Projects like Mahavir Kalpavruksha Thane offer a number of premium apartments at affordable costs.

When we compare the cost of living in both these cities, Navi Mumbai scores over Thane since it is relatively new. But with rapidly developing infrastructure, the property rates are expected to witness a good upsurge in Navi Mumbai as well as Thane.

Both Thane and Navi Mumbai have their own share of benefits when it comes to investing in property in areas slightly away from the main city. There are numerous facilities and attractive real estate projects for both these locations. Based on your financial health, location preference and requirements, you can decide which city you want to put your hard-earned money.

Additional Read: Best Real Estate Projects in Thane for Investment

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Critical Parameters Which Can Help You In Buying Property In Bangalore

Bangalore, also known as the ‘IT hub of India, is featured in the news more and more often. Sometimes, it is for multinational companies setting shop there, or sometimes for more and more people settling in the city, or sometimes it is just for its fantastic weather.

With the city being talked about so much, many people are thinking about buying a flat in Bangalore. But before people buy a home, various things must be considered before taking this mammoth decision.

Starting from the location is vital for every individual and family. The location can be decided based on people’s budget, their workplace or the proximity to hospitals, schools, airport, or even cool hangout places. The next in line will be connectivity. Since Bangalore’s traffic is exceptionally infamous, it is crucial that you buy a property which doesn’t require you to be stuck in a traffic jam for hours on end.

Must Read: Is it Worth to Buy a New House in Bangalore?

The next thing to consider is whether you are given what you were promised. Real estate moguls publicize a lot of amenities but often end up delivering less than half of those. So it is essential to very minutely check the reputation of the builder to ensure you are getting a good deal. One of the last things to consider is the worth of the land in the upcoming years. You have to make sure that the land’s value, if not appreciate, at least doesn’t depreciate massively.

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Benefits of Purchasing Property in Thane Now!

Mumbai has become rather difficult for most middle-class home buyers owing to limited space and ever-increasing prices. As such, an increasing number of people have begun shifting their focus to Thane as it is very conveniently located and is affordable too.

Further, Thane is a well-planned city and has all the latest infrastructure to cater to the needs of the modern-day buyer. This is why it has become a suitable choice for salaried class and first time home buyers.

Some of the top benefits of investing in real estate in this city are as follows -

-> Connectivity

This is one of the biggest considerations for any home buyer. People are ready to compromise on living away from the city center if the connectivity options are good enough. Thane has excellent connectivity with the rest of Mumbai by roads like JVLR, Mumbai-Nashik Highway, and SCLR to name a few.

Apart from this rail connectivity is also excellent with Central Railways connecting Thane and Mumbai via the Central Harbour Line and Thane-Panvel Rail Line. There are also plans for building metro connectivity which will further reduce travel time and pressure on the existing transport networks. Owing to such connectivity options, several societies such as Unnathi Woods have come up in Thane in recent times.

-> Job Opportunities

Many people do not know about this but Thane contributes significantly to the economy of the state and this is expected to grow manifold in the future. Their many business hubs which have come up in Thane and owing to its proximity to business districts in Mumbai, Thane has become the top choice among investors in recent times.

Finally, there several financial institutions which provide home loans at very affordable interest rates. This means that repaying the loan is no longer a burden on the borrower. This is also aided to the real-estate boom in Thane.

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How Investing in a Property a Good Idea?

Apart from salary jobs and businesses, nowadays, people are now looking for an alternative source of incomes like blogging, affiliate marketing, network businesses, and even real estate investment. Now, often you would think why investing in a real estate property is a good idea.

Actually, in this market, properties are becoming a great source of income since every person is in dire need of a house to stay comfortably. And as it is not possible for everyone to buy a house, it’s better to take one on rent.

Also, some people invest in real estate properties in tourist places. They too are a great source of income. But before you invest in high scale properties like Accurate Wind Chimes, and others.

You need to know why investments in real estate property is a good way to earn more money.

IT GIVES A STEADY INCOME

With real investments in properties, you can earn a lot of money, provided you are putting good use of the concerned property. Renting them out is a good option because, in that way, you can have a steady income every month. Also, if you are owning a resort for holiday Villa infamous tourist locations, then the earning will be doubled.

INVESTING IN REAL ESTATE WILL CURB THE TAX

Though it is somewhat new to most of the investors, real estate property investments can reduce the tax greatly. Often to buy a new home, you take home loans or personal loans. As a debt will be added under your name, the tax that you had to pay otherwise will be reduced.

MORTGAGE REPAYMENTS CAN BE DONE

If you have kept your property as a mortgage, you can easily pay off the dues from renting out the property or by reselling it, even though the first option is preferred.

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Take Advantage of RERA & Buy Your New Home Today!

No matter how good your running income is, there is still a high possibility that you would be going for a home loan while buying a new property. While taking a loan, you should be aware of RERA as there are multiple benefits that a buyer can avail from it.

Whether you are buying a home in Provident Park Square or anywhere else in Bangalore, here is what you must know: -

-> RERA stands for Real Estate Regulatory Authority Act, which was implemented in May 2017 to prevent the buyers from getting cheated by the property developers and hear their grievances.

-> There is no transparency between the developers and the buyers of the property. The developer is now required to update the buyer with the progress made in the construction. All the projects have to be registered before they are started so that there are minimum chances of fraud. Provident Park Square is known for its timely registration and for following all the guidelines laid down by RERA.

-> With an increase in transparency, the demand for the property has significantly gone high, which has made the prices go down considerably. Therefore, it is not a big task to own a home now.

-> RERA strictly ensures that no fake promotions or false promises are made to attract a large number of buyers. Only those facilities can be highlighted that can be delivered as per the plan and availability of funds.

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