Are you considering purchasing a property in Bangalore? With its booming real estate market and rapid urbanization, Bangalore has become a popular destination for homebuyers. Whether you are looking for a flat or an independent villa, this guide will provide you with some valuable insights to help you make an informed decision.
Flats in Bangalore
Flats, also known as apartments, are a popular choice for many homebuyers in Bangalore. They offer several advantages, including affordability, convenience, and a sense of community. Flats are typically located in multi-story buildings and come in various sizes and configurations to suit different budgets and preferences.
One of the key benefits of buying a flat in Bangalore is the availability of amenities. Many residential complexes offer swimming pools, gyms, parks, and security services. These amenities can enhance your quality of life and provide a convenient lifestyle within the premises.
Flats also offer a sense of security, as they are often part of gated communities with round-the-clock security personnel. This can be particularly appealing for families or individuals who prioritize safety and peace of mind.
Another advantage of buying a flat is the potential for rental income. If you are not planning to occupy the property immediately, you can consider renting it out to generate a steady stream of passive income. Bangalore’s thriving rental market makes it an attractive option for investors.
Independent Villas in Bangalore
If you prefer more space, privacy, and customization options, an independent villa might be the right choice for you. Independent villas are standalone houses with their land and are ideal for those who value exclusivity and a sense of ownership.
Owning an independent villa allows you to have complete control over the design and layout of your home. You can personalize it according to your preferences and create a unique living space that reflects your style and taste.
Independent villas also offer ample outdoor space, including gardens, lawns, and parking areas. This is particularly appealing for families with children or individuals who enjoy spending time in nature or hosting gatherings.
While independent villas may come at a higher price compared to flats, they offer a higher degree of privacy and independence. You won’t have to worry about common walls or sharing common areas with other residents.
It’s important to consider the location when choosing between a flat and an independent villa in Bangalore. Flats are often found in prime areas and well-connected neighborhoods, whereas independent villas are typically located in more suburban or semi-urban areas.
1. Visit a few projects constructed by the builder and speak to the flat owners. Ask them about the construction, whether they finished the work in time, etc.
2. Verify original land documents, construction plan, and tax-paid receipts for at least the last 15 years. Consult a lawyer if necessary to get them verified.
3. It is better to purchase a flat when it is in the initial stages of construction than a completed one as you can opt for modifications in the plan like removing a particular wall, opting for an open kitchen, shifting the entrance of any room to another place, have separate pooja room, store room, etc.
4. While selecting a flat ensure that it has adequate natural lighting, air circulation, etc. If you believe in Vastu, ensure that the flat you choose is per Vastu’s requirements.
5. Read the Sale Agreement carefully. Normally the builders allow an 18-month grace period for themselves and do not give any grace period for the flat owners. Also, they will mention that they will pay 4% interest if they fail to deliver the flat on time but owners have to pay 18% interest if they are unable to pay the installments in time. Ensure you read and know what agreement you are signing.
6. Approach 2 to 3 banks at least with the details and ask for a loan. Some may refuse and give you some valid reasons.
7. Make sure you get everything written on paper (agreement) like whether woodwork will be part of the package, teak wood doors or normal doors, bathroom fittings of reputed make like (parryware, hindware jaguar) or local make, etc. Builders promise so many things orally and you may feel betrayed later.
8. During construction ensure that they do the vitrified tile flooring properly. Normally the labourers are unskilled and you may have to redo the whole thing or live with it for the rest of your life cursing the builder.
9. Make sure the kitchen granite slope is towards the sink or else you may have to keep cleaning the stagnant water on the granite daily.
10. Decide whether you are going for a chimney or ventilator fan for the kitchen and get the provision done for the same.
11. Wiring will be the worst thing in most of the apartments. Ensure that you get the best company switches and MCBs and that they provide separate wiring for geysers, fridges, washing machines, microwave ovens, etc so that you will not face any difficulty in case you prefer to install Inverter.
12. Ensure that you have a choice of colors to be painted inside your flat (also emulsion or distemper paint). Normally they orally say you can choose but then refuse saying that you have to pay an extra amount for that.
13. Make sure they do rainwater harvesting for your apartment (it’s going to be compulsory anyway). Water is a major issue in Kaggadasapura. Most of the apartments rely on water tankers for water supply.
14. Get your Khata and electricity bill transferred to your name before taking over the flat.
15. Ensure that the builders take care of maintenance till the association is formed.
16. Ensure that the builders do not make any deviations in the original plan sanctioned. Normally they build extra flats on the terrace and make money out of them. This may also lead to the cancellation of your housing loan by the bank.
17. Ask the builder about the provision of a playing area for children and the measurement of individual parking slots for the amount you pay for parking.
18. Ensure that the builder provides safety grill work for the balcony and main door entrance. Some builders provide them.
19. Do not go by the name of the company advertising the flats. They may be only marketing the project and some new builders may be doing the construction. Confirm who is the builder and the engineer taking care of the construction.
20. And last but not least, do not pay the entire amount for the flat before you take over possession of the flat. Keep at least 15% of the total money with you and pay only during the handing over of keys. Many people pay the whole amount beforehand and builders turn a deaf ear to their requests for completion of work.
Conclusion
Ultimately, purchasing a flat or an independent villa in Bangalore depends on your preferences, budget, and lifestyle. Flats offer convenience, amenities, and affordability, while independent villas provide space, customization options, and exclusivity.
Consider factors such as location, budget, and long-term goals before making your choice. Consulting with a reputable real estate agent or property developer can also provide valuable guidance and help you find the perfect property that meets your needs.
Whether you choose a flat or an independent villa, investing in Bangalore’s real estate market can be a wise decision. With its thriving economy and growing infrastructure, Bangalore offers a promising future for homeowners.
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