Being one of the busiest IT hubs of the country, it is no surprise that the demand for residential property in Bangalore doesn’t seem to wane. Apartments are convenient, given their amenities and general affordability and Bangalore has to offer a number of residential projects that fit your financial scheme and needs. For instance, Sobha Avenue, one of the bigger residential projects by Sobha Limited, is strategically situated near Whitefield, probably the most sought-after IT hub of the city.
While it may not be the easiest to zero-in on a residential property in the city (given the range of options to choose from), this list of the seven most important considerations before buying property in Bangalore can be of great help.
Choosing the right address for your residence will warrant attention to detail. Bangalore has an ill reputation for traffic jams and congestion. Hence, try and choose a location that’s not too far away from your office or the places you usually frequent. For instance, Koramangala, Indira Nagar, JP Nagar, Banashankari, and Whitefield are considered to be among the more premium areas in the city, in terms of both amenities and reputation.
Another advantage is that the chances of getting tenants in quick succession are more in these areas, in case you choose to rent out the property. For instance, should you be seeking to live in luxury, Sumadhura Soham – a residential project based out of Whitefield – offers you comfortable, plush surroundings and well-rounded connectivity, coupled with best-in-class amenities.
- The reputation of the builder
Probe into your builder’s reputation and past projects, in case the property you are deliberating on is still under construction. It would be in your best interest to personally visit the builder’s other project sites and make sure there hasn’t been any compromise with the quality of raw materials.
There are two other things that a project by a reputed real estate group guarantees – a high resale value and rental income. For instance, you can live in style and comfort in Sobha Avenue, a project by Sobha Limited, a trusted name in Bangalore realty.
- Property title
Make sure the property you wish to invest in steers clear of any complication with its title. This is to make sure no unpleasant surprises in the form of legal disputes spring up once you have been handed over possession.
Keep the property document checklist handy; go through the sale deed carefully and make sure the construction has been sanctioned by the Bangalore Development or Bangalore Metropolitan Region Development Authority. Also, don’t forget to ask for the commencement certificate from the builder, should the property be under construction.
Beefing up the list of amenities has been one of the oldest tricks up every builder’s sleeves. More often than not, you could be in a pickle, trying to hand pick facilities that are most likely to be of use to you. Be absolutely sure that the builder would ultimately provide all the amenities that are listed down in the brochure.
For instance, some residential projects offer important add-ons such as crèche, playschools and quick fix medical facilities.
- Word-of-mouth and other reviews
Look up online review portals and don’t shy away from asking prospective neighbors about the safety of your vicinity and apartment. Remember that Bangalore is a melting pot of cultures and beliefs, considering people come in from different parts of the country and set up residence in the city. Use your time wisely while you’re on the hunt for a house.
Inspecting your property will help, but only so much. Don’t forget to probe into the floor plan as well, something that will explain every little detail, in accordance with the residential measurements and design. Make sure the apartment receives ample amount of sunlight and is well-ventilated. Take help from an architect, if need be.
- Resale value
Your property’s resale value will primarily hinge on its location, but other factors such as the builder’s goodwill and range of amenities will also have a role to play. An apartment with a potentially high appreciation cum resale value guarantees a much-needed safety net in times of financial distress and a possible dearth of funds.