Bangalore is home to millions of Indians. With a vibrant multi-cultural social fabric, Bangalore is one of the fastest growing cities in South India.
As an IT capital, it attracts thousands of young professionals. Many people are drawn to Bangalore for its pleasant weather and cosmopolitan culture. And it’s now emerging as the place for start up companies and entrepreneurs.
For a first-time home buyer anywhere, it’s natural to encounter many new terms and terminologies. You might often wonder where to start learning so that you can at least get close to brokers and builders. A little education and knowledge on real estate markets in Bangalore will certainly help you.
This short but essential guide is written for first-time buyers who have limited knowledge on the technicalities of property purchase.
First task first – Set a Budget
It’s common for buyers to stretch their budgets to add more luxury or comfort. While this is natural, you should keep your repayment possible. There should always be a cushion or safety margin in your budgets so that you can take care of other emergencies.
Know About Your Property Papers
A property within in the BBMP area should have the necessary approval certificate from BBMP. Ensure that your apartment’s Khata certificate<<link to related blog>> is in order. Find out if the tax is paid and whose name it’s listed under. Also get the latest encumbrance certificate with details of the last 30 years.
Exercise caution while buying property on agricultural land
Restrictions and complex procedures are involved in buying properties marked as agricultural land. Prior permission from the Government is required. To avoid the tedious process, it’s advisable to buy a converted land instead.
Avail the service of a property adviser
An expert with experience might cost you extra money. Barring the addition cost, their consultation and service will reduce the hassles of purchasing.
Location, Location and Location
We all know how traffic can take productive time away from work and family. So decide on the location carefully by taking into account the location of offices, schools for kids, everyday facilities, etc.
Infrastructure Facilities
While buying your house, check for facilities like ATM’s, hospitals education institutions, shopping centres, entertainment places and eating joints in and around your complex. Also check other facilities inside your apartment as they come with pools, playing areas, parking tiers, security services, gyms, etc.
Final Note…
All these facts will give you a basic understanding of the property. It’s advisable to exercise proper care, caution and study. Also, for the safety note, it’s recommended to deal with reputed real estate developers or leading builders in Bangalore.
About The Author
Hi i am Bharath Joshi, Marketing Executive for Unishire Belvedere Premia a new residential project, that began with an aim of redefining real estate and creating benchmarks for others to follow.
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