Purchasing an apartment in Bangalore is a dream for many young Indians today, as Bangalore is a fast growing city and a hub for all people, young and old. It all started with the IT revolution, when major companies recognized Bangalore as a fertile ground where they could set up base. This was followed by extensive migration as many engineers started flocking to Bangalore in search of better career prospects.
Today, Bangalore is fast rising as one of India’s premier cities, close in Mumbai’s tail.
Buying an apartment in Bangalore can solve multiple purposes.
- In a time of rising rents and accommodation expenses, it can be a great investment to actually buy an apartment in a thriving city like Bangalore as the general value is high.
- You will also have constant access to all amenities, including swimming pools, gyms and playgrounds.
Bangalore Sky line
When opting to buy an apartment in Bangalore, there is a series of steps that you follow, as these will help you make the right choice without going wrong in any account.
The Right Location
You may have to decide on the right location before pouncing for the kill and buying an apartment in Bangalore in a hasty manner. Make sure that you take all things into consideration, including the apartment’s distance from your workplace and its distance from nearby schools and universities (if you have kids!).
While opting for an apartment in Bangalore, you can either choose one that is located bang in the city’s commercial center or one that is located in the peaceful outskirts. In case you have kids, the latter option would be more ideal. Commercial areas tend to be very noisy and bustling and all this can take a toll on you over a period of time.
Check if the apartment is indeed your dream home or a blast from the past. A few apartments in India tend to be improperly furnished with no showers, fading walls, bad carpeting and non existent furnishing. You’ll be investing all your hard earned savings in an apartment, so exercise your right in being choosy. Do not settle for apartments where bathrooms just have a pail and a bucket. Instead, you can opt for a beautiful apartment that is well furnished on all fronts.
The key to making a good investment is proper calculation. You should create a budget and stick to it, in order to make sure you don’t spend it all away on the apartment. List out your requirements, (what you’re looking for in an apartment) and check out the many housing complexes located out there. Compare the rates with your budget and pick out the one that matches all your criteria. Talk to the builders and question them on the advantages of taking up an apartment in their complex.
Know Your Papers
- Verify whether the apartment of your choice has proper BBMP Approval Certificates.
- Make sure you check the flat’s Khata Certificate. Ask for this from the owner of the place.
- The property should have no loans dependant on it, so check the Encumbrance Certificate.
- Employ a good real estate lawyer and verify the content of these certificates and the content of the Sale Agreement and Sale Deed with him/her.
- Wrap up all your pending payments before the period mentioned in the Sale Deed and get a sale agreement.
- Get your sale deed registered and get the Khata in your name.
These small facts are not that well known, and these are essential in ensuring that real estate brokers do not take you for a ride. Pick out a great apartment following these simple guidelines and revel in your space in India’s software capital!
1. Before you buy: A checklist for Apartment Buyers
2. Guide to Buying a Property in Bangalore from a Legal Perspective
This article aims at collating and providing information for benefit of ApnaComplex customers and blog readers. While ApnaComplex has taken every care to ensure the information is accurate, we suggest to please use it only as a guidance for further discussion and action with help of relevant professionals. If you need professional advise on this topic and any other property related matters, please send your request through our contact us form. You may post your questions/inputs in the Comments section below and we will try and get them answered through relevant subject matter experts.