Real Estate Checklist Before Buying A Property In Bangalore

Bangalore plays host to numerous government establishments and traditional industries. The cosmopolitan city that is India’s Silicon Valley has attracted professionals and students from across the country due to its immense variety of employment opportunities.

As a result, the real estate sector in the city is seeing exponential growth with plenty of housing projects offering the latest amenities and facilities. For instance, Provident Park Square is one such housing project offering luxurious and elegant living spaces.

If you are looking to buy a home in Bangalore, here are some factors you may want to consider:

  1. Finding the right location

It is a wise choice to thoroughly research the locality you want to buy a home in. You should check whether the area has easy access to prime locations within the city, and find out if there are essential amenities like restaurants, shopping malls, schools, hospitals and banks nearby

  1. Good resale value

It is important to look well into the future when you decide to purchase a property because you may want to sell it after a few years. If you choose the wrong location or property, it could affect the future sale value of your property. It is advisable to know about new developments in the years to come which offer growth prospects that could increase your property’s value in the future.

  1. Researching about the builder

You may want to communicate clearly with the property’s builder and ask any property-related questions you have in mind. Apart from that, you can also conduct research and examine past projects.  

  1. Additional costs

It is essential to find out additional costs over and above the basic price of the property you may have to pay from your pocket. These may include service charges by lenders or mortgage brokers or real estate agents, notary charges, parking fees, preferential location rates and so on.

  1. Property insurance

Property insurance can provide you with coverage in case of property title disputes, damages to the property and other legal issues. It can safeguard your financial future in the event of mishap or destruction to the property. You can consider various options and choose the right policy.

  1. Documents to check

Whether you are a first-time homebuyer or buying a second home, it is a good idea to keep the following documents at hand:

  • Title deed
  • Encumbrance certificate
  • Building plan sanction
  • Commencement certificate
  • Occupancy certificate
  • Property tax receipts
  1. Getting the right funding

Lastly, buying a home is expensive, and you may need to turn to a reputable lender to fund your purchase. Lenders like Bajaj Housing Finance Limited offer home loans up to Rs.3.5 crore at nominal interest rates, along with property search services, to make the home buying process easier for you.

  1. Summary

Property transactions take time. It is advisable not to rush into a decision, instead conduct a thorough investigation before selecting the right home. Choose the property location after exhaustive enquiry on the area, available amenities and future infrastructure plans that can increase the resale value of the property in future. Look into past housing projects of the builder and read the reviews of home buyers. In addition, you can keep yourself well informed by reading the fine print of primary documents like title deed and building plan sanction.

If you are looking for real estate in Bangalore, you may want to consider a superlative project like Provident Park Square. Provident Park Square in Bangalore offers well-designed and spacious 1 BHK, 2 BHK and 3 BHK apartments. Spread over an area of 20 acres, the premium township provides a number of amenities ranging from spa, restaurant, and shopping centres to courts for different sports, gymnasium, yoga deck, kids play areas and landscaped garden. The housing project offers the best living space for people looking for a high-quality lifestyle.

With skyrocketing expenses today, it can be difficult to rely entirely on your savings to buy a home. If you need financial assistance, you can avail a home loan from Bajaj Finserv Homes & Loans that offers home loans up to Rs.3.5 crore..