Bangalore is a bustling city drawing a large young population due to job opportunities and the IT industry. Its pleasant climate adds to its charm, leading to a booming real estate market for apartments and homes. Nowadays, there is a vast array of apartments available to accommodate the city’s ever-growing population. With so many choices, it can be challenging to decide which flat is the best investment for you. To make an informed decision, consider these 10 important factors before purchasing a new flat in the tech city of Bangalore.
Foundational strength of the location
When looking for a flat in Bangalore, consider the location’s foundational strength. The soil in Bangalore has a high clay content and low bearing capacity. Look for flats with spread footing foundations or pile foundations for stability. Consult an engineer for further assessment.
Verify the apartment’s legal compliance
Before you decide on a high-rise apartment in Bangalore, there are important quality and legal standards it should meet to keep you safe and comfortable. Check if it follows the rules for zoning and building, has a strong structure, and includes fire safety measures. Also, ensure the electrical and plumbing systems work well and that there are proper sanitation and waste management facilities.
Moreover, consider if the apartment has good ventilation and natural light, follows green building practices for sustainability, and is energy-efficient. Accessibility to hospitals, schools, markets, and other essential places nearby is also worth considering. If the apartment meets these criteria, it’s a worthwhile investment.
Age of the apartment
The age of an apartment plays a vital role in determining its strength and structural integrity. Generally, there exists an inverse relationship, wherein older apartments tend to have lower strength compared to newer constructions. Wear and tear over time, outdated building codes, and maintenance issues contribute to the weakening of older buildings. In contrast, newer apartments benefit from advanced construction techniques, better materials, and adherence to current building standards, making them more robust and durable. However, as a buyer, you should also consider the maintenance history, renovations, and location of the apartment to make a well-informed decision.
Verify the water source for the apartment
In Bangalore, many high-rise apartment buildings are being built in different parts of the city creating a vertical growth trend. However, most of these apartments are facing water shortages, and residents have to buy water from tankers. In the past, some apartments didn’t provide proper water connections, causing drinking water problems for the residents who bought those flats. In response to this issue, the authorities have implemented a new requirement for builders. Now, builders must reveal the water sources they will use for the apartment buildings during the registration process. Buyers should check for this information and choose an apartment complex that uses rainwater harvesting to conserve water and tackle the scarcity issue effectively.
Check for Fire safety, electric shock prevention, and Lift safety measures
When considering buying a new flat, fire safety, safety measures, and security should be among the top factors to consider. Fire safety protocols, such as the presence of fire extinguishers, smoke detectors, and clearly marked escape routes, are essential to ensure the well-being of residents in case of emergencies. Furthermore, thorough safety measures against electric shocks and proper maintenance of elevators are crucial to prevent accidents. A secure living environment with reliable security systems, such as CCTV surveillance and access control, provides peace of mind and safeguards against potential threats. Prospective buyers should thoroughly assess these aspects to make an informed decision and ensure a safe and secure living space for themselves and their families.
Spot deals and discounts
If you’re looking to buy a flat, keeping an eye out for good deals can save you a lot of money. Don’t rush into the first offer you see. Check out different flats and compare them to find the best one for you. Builders, banks, and lenders often have great deals and discounts, like EMI holidays. Take your time to find the right deal that suits you. But remember, don’t sacrifice the quality and safety of the building or the surroundings just for some small discounts or offers. It’s essential to find the right balance between savings and a good living environment.
Benefits of opting for a Vaastu-compliant flat
Did you know that Vaastu, an ancient wisdom of construction directions, can affect four crucial aspects of your life: health, wealth, relationships, and legal matters? To live a peaceful, prosperous, and progressive life, harmony in these areas is essential. When any of these aspects are imbalanced, it can lead to sorrow, failure, or setbacks. Vaastu science helps in balancing the five elements of nature – earth, water, air, fire, and space – by assigning each element to a particular direction. Following these principles in construction can bring happiness to the living space. Builders like Sri Sumeru Realty offer Vaastu-aligned constructions to their clients, so if you’re looking to buy a flat, considering this aspect can be beneficial for your well-being.
Inspect leakages and other lapses
When you visit flats, it’s crucial to check for roof leakages and other issues. A leaking roof might mean the builders didn’t waterproof it properly, so you should review the warranty from the developer. Also, watch out for other leakages like water pipe leaks. Check if the flat meets healthy home standards, especially in terms of heating, ventilation in kitchens and bathrooms, and proper drainage. Make sure everything complies with the rules before finalizing your decision to buy the flat.
Purchase a flat surrounded by greenery
Nature is essential for an eco-friendlier and balanced living space. When searching for a builder, try to find one who prioritizes nature in their apartment complex. Look for places with green walkways, driveways, parks, and jogging areas. Being surrounded by greenery can encourage you to spend time outdoors, do yoga, or exercise. Nature provides plenty of oxygen, which is beneficial for you and your family’s health in the long run. It’s great to have an ample supply of oxygen from the natural environment.
Must-have documents for buying a flat in Bangalore
Even if everything else about the deal seems good, if the legal aspects of buying a flat are unclear and your documents are not correct, it’s not a good deal. Incorrect documents or lack of proper verification can lead to losing legal ownership or getting stuck in lengthy court battles. For a successful legal deal, you will need important documents like Sale Deed, Sanctioned Plans, Society Documents, Encumbrance Certificate, and Sale Agreement. Besides, check if any other supporting documents are required, such as Parent deed, building plan sanctioned by BBMP, village Panchayat or BDA, Khata certificate, Encumbrance certificate, or tax receipts. Proper documentation is essential to ensure a smooth and trouble-free property transaction.
Here are 8 frequently asked questions (FAQs) to assist you in buying a new flat in Bangalore:
You can discover well-known builders of flats in Bangalore, like Sri Sumeru Realty Pvt Ltd, who prioritize sustainability and Vaastu principles in all their constructions.
When looking to buy a flat, focus on essential factors like the builder’s reputation and credibility, ensuring the regulatory compliance with Bangalore K-RERA, the water supply connection, the age and strength of the building, the focus on sustainability and green living, as well as any builder discounts, among other important considerations.
Before making any property purchase, make sure to check and verify all the necessary documents. This includes the parent deed, sale deed, allotment deed, gift deed, building plan sanction, Khata certificate/extract, encumbrance certificate, property tax receipts, and any other relevant paperwork.
Make sure to inspect the water supply connection in the flat you’re considering to buy, as Bangalore might face a Day-Zero, a situation where there won’t be enough water to supply to the whole city. It’s essential to find a builder who follows sustainable practices like rainwater harvesting. Besides, ensure that the builder has the approval of the Karnataka Real Estate Regulatory Authority (K-RERA), which confirms that the high-rise is legal and meets all the necessary standards.
The flat prices in Bangalore can vary a lot based on the location and the builder. In places like Whitefield, Jakkur, Bellandur, and Banashankari, the average price per square foot is around INR 5,000 to 6,000. The price trend may be different for apartments, independent houses, plots, or villas. Generally, the prices are going up, and in some popular areas, they are increasing even faster.
In Bangalore, you can find everything from tall apartments to budget-friendly starter-homes. Many people are now searching for affordable housing options, and this has led to a growing trend of affordable homes in Bangalore.
If you’re looking to buy a flat in Bangalore, some fancy and popular areas are Whitefield, Indiranagar, Basavanagudi, Jayanagar, Koramangala, Malleshwaram, and Richmond Town. But don’t overlook some up-and-coming places like HSR Layout, Kanakapura Road, and Bannerghatta Road. These underrated locations are gaining popularity and offer great potential for investment.
Home loans are generally available at an interest rate of 8.40% per annum or more. You can borrow up to 90% of the property’s cost, and the loan term can be as long as 30 years. They also offer the option to transfer your existing home loan from another lender to them at a lower interest rate.
