7 Things to Keep in Mind Before Buying Apartment in Bangalore

 We have narrowed down the 7 most important things to keep in mind before buying an apartment in Bangalore. It is touted the Silicon Valley of the country and because of this there is a never-ending demand for living spaces. Bangalore is a bustling city with a population of over 9 Million people from all over the country. Buying an apartment in Bangalore is the best way to go as there are a wide range of options to choose from. After all it is a crucial life decision, which will involve a loan and monthly EMI’s, the most important things to consider while buying an apartment in Bangalore are the location, Price, Developer details and amenities.

Here are details of some important things you must look in to:

1. Location: The location of the apartment you are buying is very important and crucial in deciding many factors. The location has a major impact on the price of the flat. For example, if the flat is in the hard centre of the scurry city, it priced on the higher end, because it has the advantage of connectivity. So, an Apartment or a flat located in the outskirts of the city, far away from the noise, is priced considerably cheaper.

2. Legal Documents: Make sure that the apartment you are buying in Bangalore is free from any kind of legal disputes, because believe us this, you do not want to get in to any kind of legal entanglement of property matters in today's date. Make sure the developer has all the NOC’s from the competent authorities and has the plans sanctioned with all relevant documents. See to it that the project is under RERA compliances and there are no deviations of any sort before you purchase the flat.

3. Amenities: All most all projects that are being developed in Bangalore in 2020 are offering a wide variety of amenities. Renowned Developers don’t shy away in providing world class amenities to its home buyers. Amenities provided also play a considerable part in attracting home buyers. The most common amenities you will find are a swimming pool, a club house, and jogging track, a gym, an indoor play area, kids play area, a community hall & so on...

4. Builder reputation: Before buying an apartment in Bangalore in 2020, you must do good research your developer. There are many developers in Bangalore who are erecting projects in every nook and corner of the city. But most of them are not abiding by the rules and regulations that are being set by the government. Most of the time, it is the buyer who pays the price for this negligence. If you are getting a very cheap deal for an apartment in Bangalore, cheaper than any ongoing market rates, you must know that there is something fishy!

5. Vaastu: Knowing the dwelling of the apartment or the habitation is as important as buying an apartment in Bangalore. Vaastu is important for most people, but there are the ones that don’t consider it too. Vaastu varies from person to person depending on his stars and zodiac sign. Vaastu determines how your lifestyle is going to be ones you buy the house, as you will be spending the rest of your life in that apartment house we recommend you consider this angle as well!

6. Size of the apartment: The size of the apartment is nothing but the area of the flat. While it is exciting that you are on the verge of buying a flat in Bangalore you must also decide how big you want your flat to be. The flat measures are of 3 terminologies:

✔ The Carpet Area: Carpet area is the area that can actually be covered by a carpet, or the area of the apartment excluding the thickness of inner walls.
✔ The Built-Up Area: Built up Area is the carpet area plus the thickness of outer walls and the balcony.
✔ The Super Built Up Area: Super built-up area or saleable area is the total built-up area of your flat &your proportionate share of the common amenities in your building complex.

At the time of sale, you will be charged per square feet of the land based on the Super Built up Area of your Apartment.

7. Budget: Once you have gone through all of the above aspects while you are hunting for the flat to buy in Bangalore, the final thing you must work on is of course the budget of the flat. As we mentioned earlier, there will be a lot of financial decisions one has to make before writing the cheque! So, while you are working in the budget, be sure you are considering all the overhead or the addon charges you have to bear. Some on them are listed below-

✔ The KEB Charges.
✔ The BWSSB Charges.
✔ The Car parking charges.
✔ The Registration fee.
✔ Stamp duty.
✔ GST.
✔ Amenities.
✔ Home loan processing fee.
✔ Service tax.
✔ Club membership.

Your actual cost of the apartment will be inclusive of all these over heads, so make sure you are aware of all these, and take in account before finalizing your budget.

There is also one Extra and thing you must consider while doing apartment hunting in Bangalore and that is competitor Analysis. When you consider different options & competitor developers you will be able to make better choices. Choices facility, price, amenities and so on. Hence it is an added advantage for you as a home buyer.