6 things to consider before buying an apartment in Bangalore
If you are going to buy an apartment, you will have to work hard. Putting money in an apartment is a great investment that can eat up all of your savings. The same is true if you are looking to buy an apartment in a big city like Bangalore. Below are some things you can consider when buying an apartment in Bangalore.
Before creating a list of good options, be sure to find out if the property plans are approved by the Karnataka government. Plans must comply with the law and must adhere to the original plan.
You can find apartment listings for Bangalore. When reading the advertisements, be sure to check the fine print. You should discuss the matter with the developer and ask for the government approved document, such as the authorization certificate.
Don’t finalize the decision unless you’ve done your homework to make sure the builder is reputable. Your past projects can tell you a lot about your reputation. Also, you can check customer reviews to better understand what type of builder they are.
Since it will remain in the apartment for many years, make sure the apartment is built keeping future needs in time. Since Bangalore is an IT hub, almost every part of the city has seen significant development.
Therefore, you may want to buy your apartment in an area that is not far from the city center. Also, your apartment should be close to banks, public transport, schools, supermarkets and hospitals.
You may want to know the facilities that the builder offers. Many developers display a fake list of services to attract as many buyers as possible. But what you need to do is consider the big picture and check everything first.
Before proceeding with your purchase, you may want to understand the different terms related to the area of the apartment. Here are some common terms to understand:
Carpet area: This term refers to the actual area of an apartment in a city.
Built area: this term refers to the total area covered by the area of the carpet and the area covered by the walls of the apartment.
Overbuilt Area: The term refers to the area calculated by adding the common area and the built-up area, which will include the elevator, elevator lobby, and hallway. Sometimes builders include other amenities like a clubhouse, garden, and pool.
Generally, the price of land is calculated based on the overbuilt area. Before buying the apartment, do not forget to consider the calculation method.
Before looking for an apartment in Bangalore, you need to set a budget. Also, you should consider current market prices before investing in real estate. Before finalizing the property, consider additional prices as well, such as water supply charges, transformer charges, electrician charges, loan processing fee, stamp duty, registration fee, service tax, parking space fee. parking and club membership fee, just to name a few.
The actual cost of your property will be the sum of all these expenses. Find out what the additional costs of the apartment are before finalizing the deal.
So if you are going to buy an apartment in Bangalore, be sure to consider these things.