Sitting at an average height of 3,020 ft. above sea level, Bangalore is one of the top real estate destinations in the country. This is because the Silicon Valley of India not only provides you with ample career opportunities, but also has pleasant climate all year round.
Real estate developers add to your lifestyle by offering top-notch amenities within the property. For example, at Bren Champions Square, you benefit from landscaped gardens, a skating area, a fitness centre and an amphitheatre, along with your 2BHK or 3BHK apartment.
However, with thousands of beautiful real estate projects cropping up all over the city, you might be left wondering where to finally invest your hard-earned money.
So, whether you are looking for a 1BHK or a 3BHK flat in Bangalore here are 5 tips that will help you make the right decision.
Choose a convenient location
Your apartment’s location is the key to having access to good amenities. Based on the location you select you will have exposure to reputed colleges, IT hubs, hospitals, malls, and restaurants. Also, the location determines the climate, transport connectivity, internet speeds, and mobile network coverage you will get.
So, weigh the social and civic amenities available to narrow down on a location that offers maximum advantages to you. For example, purchasing a flat at Bren Champions Square on Sarjapur Main Road brings you closer to offices, educational institutes, healthcare, and convenience facilities.
So, with a home at Bren Champions Square you can do all your sports shopping at Decathlon, profit from work opportunities at Wipro and RGA Techpark, benefit from hospitals like Columbia Asia, and find international schools within a 5-kilometre radius.
Verify the builder’s credibility
Having a good builder ensures a sturdy build and construction, and you can be sure that only the best materials were used to give shape to the home. Additionally, a plush project from an experienced builder gives you access to top amenities, and maintenance support.
There are a few ways through which you can verify your builder’s credibility. One is to go with a builder whose name is established in the market.
Another is to visit the site and other projects the builder has completed, so that you can check their credentials in person. A third is to get reviews from residents who are staying, or who have stayed, in properties built by the builder.
Understand your apartment area
As you look at the documents and floor plans make sure that you know the meaning of the technical terms used. To illustrate, note the differences in these 3 terms.
- Carpet area: This is the actual size of your apartment. It is the area over which you can physically lay a carpet.
- Built-up area: This includes the carpet area and the thickness of the walls and balcony space.
- Super built-up area: This includes the built-up area and common spaces like stairs, corridor and lift.
When you keep these terms in mind, you’ll know to ask a builder for the carpet area if he only advertises the super built-up area. Thus you’ll be able to gauge the exact area you are getting within your property.
Evaluate the total costs involved
Before sealing the deal, take a moment to factor in all the costs. For example, you are likely to pay up to 5% of your property’s market value as stamp duty when you move into your new 2BHK flat in Bangalore. So, if your apartment’s market value is Rs.50 lakh, you will end up paying Rs.25,000 by way of stamp duty.
Other costs that you will incur are parking fees, gym or clubhouse membership charges, water and transformer charges, and a variety of processing fees. So, calculating these charges in advance will help you plan your budget properly.
Investigate the legalities
Do not forget to carry out a background check into the legal aspects of the property. Are the property plans matching up with the guidelines set by the government of Karnataka?
Further, does it have RERA approval? If the property is built on what was once agricultural land, it should have a valid conversion certificate.
Once the property site is inspected and guidelines are met the builder is given a commencement certificate. Not having this amounts to illegal construction. Other legal documents to inspect include the building approval plan, sale deed, encumbrance certificate, mother deed, and sale deed.
Now that you know what to look out for when purchasing a 1BHK, 2BHK or 3BHK flat in Bangalore, get your finances ready by availing a high-value loan like a home loan by Bajaj Housing Finance Limited.
Here you get a loan amount of up to Rs. 3.5 crore at affordable interest rates. Repayment is easy with flexible tenors of up to 20 years and cost-effective features like zero part-prepayment and foreclosure fees.
This home loan is part of PMAY’s CLSS and has facilities to help you find the right property in Bangalore too. Apart from this, the property dossier will not only help you with documentation for the loan but will give you insights into properties and the technical aspects of buying a home.
Signing up is simple and a 1-step verification will give you instant approval. To get started, check your pre-approved loan offer from Bajaj Housing Finance Limited now.