IS IT BETTER TO BUY A PLOT OR A FLAT AND CONSTRUCT A HOUSE IN BANGALORE?

Bangalore is an upcoming metropolitan city improving with time. It has a good system of connectivity, all top notch amenities and rapidly developing and expanding commercial area! So naturally, many millennial and older generations alike are flocking to this mega city to find their own place to live. However is it better to live on rent or to buy a plot or property in Bangalore?

We will let the following salient points decide it.

The pros for buying a plot or flat and constructing a house in Bangalore:-

• Presence of computerized RTC helps to keep good track of your property and lets you know all the extensive details without any hidden costs.

                   

• Real estate is practically booming in this cyber city. Starting from condos to small apartments to villas, you are literally spoilt for choice. The ever-expanding city has also quite a lot of plot vacant and available just waiting for you to construct your dream house!
• Labour is not a problem in Bangalore and developers and contractors are usually scrupulous enough to finish your projects with little or no delay.
• The Central Business District and the Whitefield's and Bannerghatta area are prime locations  where there is a lot of commercial presence and has good connectivity with all important districts. And there is a tonne of property available here too in which  Sumadhura Eden Garden is one of them affordable apartments.

                                        

•  Bangalore is a relatively safe city and there has been increased police vigilance to help in maintaining the safety of women and other citizens as well as maintaining the sanctity of the houses.
• All kinds of local suppliers and handymen are available in just a stone’s throw away no matter what district you choose to be in. 
• Bangalore is a hot and happening city with a lot of five-star restaurants, clubs, malls, gardens and amusement parks so no need to worry about ever having a dull evening there!
• There is a multitude of property available by all well-known developers and construction group post the recent depression in the real estate market last year! Now it is steadily climbing and people are buying up property cautiously but steadily!
• Garbage segregation and collection is done at a regular interval and efforts are taken to keep the city clean.

Cons of having a flat or house in Bangalore:-

•  Despite good connectivity, congestion is a major problem in Bangalore, Traffic gets invariably clogged at all important hours and takes a lot of time to clear.
• Public transport is expensive in Bangalore.
•  Due to the high demand for flats, the city is starting to become a little overcrowded due to unplanned growth.
• If you do not know the local language, you may have some problems connecting or communicating with the local people. They do not prefer Hindi much, Its either Kannada or English.

 However, despite all drawbacks, settling down in Bangalore does sound like a great lucrative option and has a lot of benefits.  It is a relatively peaceful city with lots of opportunities awaiting and right now there will be a lot of offers available! So what are you waiting for? Go ahead to make the best deal of your lives!

Why is it so important that you consult a real estate professional before buying a home?

Since buying a home comprises of a single great investment, and often pushes people to debt, it is better that these matters be handled extremely carefully. The home buying experiences are usually very exciting, thrilling, tiring, and nerve wrecking to say in the least. A lot of research work has to be done on everything, and then decisions need to be taken accordingly. And this is not only for the first home that one buys brings him such anxiety, every time the person makes a lump sum transaction; there is enough reason to be worried because of the profit and loss calculations.

The real estate market  that stands today can offer one a lot of exciting opportunities, whether that be for an end user buyer or someone who is investing in properties. The decisions have to be well informed; else one might incur losses as much that he could go into debt.

For buying property, one should do the following:

1.   Do your research well and understand your goals:

Having understood that buying a house is a financial goal, one must take this well-informed decision with patience. It is important that one sits to educate himself or herself about the entire scenario, and also determine the cost, expenditures, both before and after the purchase. One needs to have a clear idea as to why and what house one is purchasing, the moment the goals get cleared, the decisions will have more clarity. 

      2.  Contacting a real estate personnel:

This might sound traditional, but so many factors have gotten involved into the business, that at this point, one cannot handle the decision alone. It is always wise to get advice from someone, especially who has been in the business for quite a few years. Studying of the market alone, with its pitfalls and profits can be a very difficult affair because this needs expertise and knowledge. Advice from the experienced never hurt and would be very wise instead. Property hunting, negotiation, transaction, all will be reduced to a game of expertise if one follows advice from the personnel.

       3.   Pre-approved loans:

Once the real estate personnel is contacted,he will guide you about pricing and everything about all brand new residential property, he will naturally advise the customer to apply for a loan much ahead of time. Sometimes banks delay in payment of loans, and this will become a menace if one does not have cash ready way ahead of time. To avoid this disaster, loans need to be sanctioned from ahead of time, and then the plot must be finalized. 

       4.   Browse homes online and offline:

One should remember to browse homes both online and offline along with the real estate personnel. It is important for him to be present when you are visiting the property, this is because you might look at the aesthetic sense, while he will look at the facilities, amenities, and other technicalities involved in the project. One thus can comprehend how important it is to consult a professional to get the best results. 

Do you use a separate LLC for each property?

The commonest question that people ask is that if someone owns multiple properties, is that person supposed to enlist all this under one LLC or should all the properties be classified under different LLCs. The simplest answer to this would be that each property should have been classified under separate sets of Limited Liability Company that owns one property, and is definitely not engaged with other business. This is for increasing the protection over every property owned. A simple example would demonstrate why it is important.

                       

Consider three people, A, B and C who own properties. Each of them holds 3 rental properties. A owned the properties in his name. B held the properties in the name of a single LLC. C held the properties under different LLCs. There was sudden damage in the rental properties owned by each friend. The tenants die. What happens next?

The first friend got sued by the family of the deceased tenant, lost all his savings, and he was blown to dust. The second friend, lost all his equity in the three rental properties, but other assets were still the same. The last friend lost the equity in the single rental apartment where the accident took place; the rest was covered and protected.

 The real estate companies know that keeping a limited liability protection is to eliminate risk that the investor faces, and one still holds on to the property despite the case of a mishap, also the life savings stay intact, and there is minor damage caused to other assets. In short, the investor is secured and covered, and protected from the mishap.

Not putting all eggs in the same basket would be advisable, as if the basket falls, all eggs shatter, which is an act of foolery. Wise people put every property under a different LLC, and overall secure themselves and their family from the risk of loss. If someone clubs all his property under a single LLC, then what takes over is loss of equity from all properties.

One might lose all the properties in the future if the person who is investing is not careful with the procedure of filing the LLC. Also all the income and expenditures come under different set ups, and it is easier and much conducive to the person who is handling the rent and the expenses. The work of book keeping becomes more convenient and there is practically nothing to worry about.If anyone interested to  invest in real estate property then A new Residential property in Joka, Kolkata - Godrej 7 seven properties. 

                          

Another benefit is that in future, if one wants to sell off the property, then it would be much better to sell off the entire LLC. This will prevent the investor from losing money on tax, and It would actually be more profitable as a transaction. 

A good real estate lawyer usually has knowledge of these transactions, and he or she usually guides people well through this. This strategy holds good for 10 properties. But for properties greater than 10, the organization could be messy and uncontrollable. For that, discussions with attorneys usually gives more insight and strategies.   

Bitcoin’s future in real estate

The bitcoin technology has filtered into the markets and has spread across the world, and is almost replacing regular currency. The chief aspects of bitcoin are that is cannot be controlled by a central bank, and hence people’s money remain their own. The real estate sector is now worried and is actually speculating if real estate is going to shift from actual money and move to bitcoin in terms of transactions. Despite having a great market launch of bitcoin, most people do not have an idea about the mechanisms of how it works. Here’s the set of know-how’s.

In October 2013, a builder and developer Phillip made an announcement stating that he would accept bitcoins for his $800000 home. This was constantly propagated in the media as a business strategy to attract international buyers. In layman’s language, Bitcoin is a form of digital money or cryptocurrency. There are no currencies of physical existence- only public and private keys that are safeguarded. The public key is the bank account, and the private key is the ATM.

Till date, property can be bought with Bitcoin. But just as credit cards received stigma in the beginning, similarly bitcoin has received a stigma too. It won’t be long before people understand how it works, and the entire world will become cashless. Visa abstract was the first title company to have accepted bitcoin, because of the market demands.But real estate is less risky than bitcoin's.

Is there concern and worry for home buyers?

But all of this is of a distant future, for now, bitcoin investment As long as there are other currencies which are physical in nature, there is no need for worry at all. Bitcoin might be an upcoming wave, and most people may have different opinions about its existence, the good news is that the buying, selling, and other transactions of real estate are safe. But to be called a wizard in investment, one needs to understand all the three aspects: bitcoin, real estate and of course block-chain technology. Not understanding any one of these technologies will of course make the entire process of investment hazy and unclear. As an investor, or a guide, one should completely analyze the risks involved in all of the three.So before investing your money analyze everything and if interested to invest in Real Estate then Peninsula Heights - Luxury apartments in JP Nagar, Bangalore. Contact for more details.

The inter-applications and of course the final implications is not returning very stable returns, making people opt out of investing into this currency. People are still more inclined to investing in real estate properties, and of course with real money and not virtual money. Of course the prospect of uncontrolled money is interesting, but it also means that the rate of crimes will soon shoot up as the money would be untraceable.     

Are home sales up or down? Is it a good time to buy?

Homes are the biggest investment and purchase that people do in their lifetimes, and they usually falter and make mistakes of great magnitude in this step. A lot of back research needs to be done in this sector, and only then calculated moves should be made. The help of a professional real estate agent is always recommended. For now, the home loan rates have come down, the property prices have more or less coagulated, and the Real estate regulation and development activity has promised to look after the frauds.

Different people have different opinions about this scenario, and the real estate developers, property agents, and the housing finance companies have to say that this is the best time to invest in a home. Although, research of market talks completely differently and has a different take on the matter.

Research and scenario: 

The research states that in about all major cities, the prices of home rose exponentially over the last few years. In Kolkata and Delhi, property prices, on the other hand, have come down after 2014. This is but of course a much-generalized statement, and there is no guarantee that the entire real estate market has seen a fall in prices. This is but of course a trend observed in the market.

While the prices have come down in certain places, a lot of places have seen a steep increase in the rates, making the scenario uncomfortable. Since the last few years, there has been a consistent change in the property trends, and GST and RERA have brought about this change. It is mandatory now for all projects to register under the RERA, and not doing so will lead to criminalization of the builder. Now, RERA will protect the consumers from the unscrupulous builders and help in the overall growth of the property. It will be impossible for the temporary builders to stay in the market because of the new policies that have been introduced: making this year a good year to start off with home investments. Peninsula Heights - A Pre - Launch Residential Project in JP Nagar, Bangalore is waiting for you. Invest now and get early bird offers.

Buyers’ market: 

There has been recently a large amount of supply in the real estate business, along with a drop in consumption, making the situation favorable for the buyers. But this state won’t remain for long if the buyers do not act soon and grab their opportunities fast. Now with the real estate authorities in the market, the builders have to make sure that their project is completed on time, and thus new launches of home have come down by at least 75% in all the major cities, making the supply low. The supply of houses will slowly come down and equate with the demand, making the situation tense and out of control for the buyers.

In the present ecosystem, buyers have a good chance of investing into the property and making the most out of it, since this low a price won’t remain in the market for long. This is when the opportunities need to be grabbed. 

Open house: when and where:

Buying houses is a tedious job, and no one said it will be tomfoolery. The entire procedure can be nerve wrecking and very exhaustive. Yes, it is a lifetime investment, and it brings thrill and excitement, but not for the person who is spending the huge sum of money. These decisions need to be taken in a well-informed environment, and preferably under people who understand the nature of their decisions. An open house is basically when a house or any other dwelling is left open for potential buyers to view the property. This is often used to advertise the property which is on sale.There are so many real estate residential project is coming to metro cities, be in touch for more information.

Understanding this on a better level: 

Open houses often happen on weekends, facilitating potential buyers to walk in and view the home that they might buy. There is often a lot of decoration and pomp, just to enhance the sale of the property. The houses are kept neat and clean, such that the chance of selling it off increases if it is well maintained. Occasionally there is even a cocktail party to welcome the potential buyers.

Benefits involved: 

For sellers, it is an opportunity to attract many potential buyers, who would not have else come upon the apartment or the house. A very well executed event can attract more buyers, such that the seller can give it at a higher price. Conversely, for the buyer, he or she makes a much more informed choice, such that he or she can visit the property and understand the location, the atmosphere and the locality where they will move in soon. This offers a double-sided benefit to both the ends, making the situation more comfortable for the both of them.

Even if the home doesn’t get sold at the first shot, the visitors who come in will discuss the property, and naturally, the flaws of the house will come in front. After all, the house needs to be in accordance to what the buyer wishes, and this can be achieved very easily, by a simple party.If interested then there is a upcoming residential property - Godrej Zest.

Broker’s open house:

The traditional open house viewing is available for all the visitors, but on the other hand, the broker’s open house is available only for real estate professionals who will come to view the property. This is a different ball game and should not be confused with the traditional open houses.

Many people speak for the existence of open house events, that is to say, they believe that it should be opened for viewing and must be worth the effort because that is what a customer needs: transparency. If a little expenditure on the part of the seller helps to sell off the house at a higher price, then it should be opted for without another thought.

Many people speak for the existence of open house events, that is to say, they believe that it should be opened for viewing and must be worth the effort because that is what a customer needs: transparency. If a little expenditure on the part of the seller helps to sell off the house at a higher price, then it should be opted for without another thought. 

Yes, low-cost homes are also available for you! Grab the opportunity now

Housing is a basic commodity among citizens and is the primary most requirement of anyone if he or she wishes to reside somewhere. The main problem that countries are facing is that there is inflation in everything, and people are unable to afford commodities, including basic amenities like a home for themselves. As a consequence, many of them land up staying on the road; many of them suffer from diseases due to poor sanitation and contagious diseases, etc, scaling up the entire procedure.

Government  of India comes to your aid 

As a solution to this, the governments of different countries have come up with different solutions, some of them have provided free low-cost housings to the poor strata in their country, some of the governments have loaned outhouses, some of them have put them as lease, and many more are still in the process of recognising the poor and their problems. The India government has come up with the scheme of reducing the Goods and service tax on housing from 12% to a good 8% only, and this has benefited all middle class and poor citizens of India. This rate is of course only for houses purchased under CLSS which is under the Prime Minister Awas Yojana. 

Under this brilliant scheme, a buyer who buys a house, with a gross annual income of up to 18 lakh per annum will be given an allowance of rupees 2.7 lakh when buying an apartment of 150 square meter, which is 1615 square feet carpet area.

Unfortunately for those who do not qualify under this scheme, will be given no discount in tax, and they will have to pay a gross amount of 12% tax on the same property. This tax benefit will, of course, be forwarded to other projects like these, and this will work in chains, the profits from one project will be put into another. This is a huge incentive for the real estate market, especially for affordable houses, as the market rate will fall by at least a good 4%.

Fact to keep in mind

The only condition to be followed here is that the area that is mentioned for each class needs to be constant, and there cannot be fluctuations there. The area that is provided should cover up three bedroom apartments and houses, especially in the metro city backdrops. The scheme has been originally designed for the backward classes to have a comfortable stay, and this move is more than welcome since it eradicates the problem of fewer housing projects and their un-affordability. 

The 18 lakh factor is also sufficient to cover up for the first time house buyers who need a push and a financial support in their first house purchase. Those, however, buying their second or third properties will not be a part of this benefit. This will in the long run help boost the real estate development and provide housing for all by a certain target year. It is compulsory that this move be taken, else India will fail majorly while catering to the needs of its citizens.   

Why Bangalore is famous for Real estate.

All of us get emotionally attached with the city we grow up, educate and where we have spent the most of our life. People who have migrated to Bangalore due to their jobs have slowly started feeling close to the city too. People want to invest in this city as Bangalore the capital city of Karnataka is a very good place to invest in the real estate field. Some reasons why Bangalore is a good place to invest are listed below.

1)  Startups and Entrepreneurship – India has a lot of startups and entrepreneurship. More than 50% of them are in Bangalore. 

S See what the economy of Bangalore has to say - Check this out

    2)  Climate – Bangalore climate is known to be among the best in the world. The amiable weather makes this city a great place to stay. People all over India love Bangalore climate. Anytime of the year be it monsoon, winter or summer the climate is not extreme at all in Bangalore. Everyone enjoys the climate of Bangalore as its just right for all.

    3)   Metropolitan City with Good Nightlife – For all the party freaks Bangalore the Metropolitan city has a good Nightlife and the young crowd enjoys the nightlife of the city. 

    4)  Low cost of living – You don’t have to spend a lot to stay in a city like Bangalore as it’s not a very expensive city when compared to Delhi and Mumbai. Any person doing a normal job can stay a comfortable, happy and contented life in a city like Bangalore. Buying a home in Bangalore is also not a very tough thing like in Delhi and Mumbai. If you are a person looking for a home in this city then Godrej Zest is a beautiful residential  project you might want to invest on. To know more about this project please contact us.

     5)  English – Almost every other person can speak English in this wonderful city. So for a person who has come from outside, it’s not a difficult task to communicate as almost all speak manageable English here.

     6)   Safety – Bangalore is a very safe city when compared to other cities like Mumbai and Delhi. Women also find it safe here and go to late night work as well as they trust the law and order of the city.

      7)   Connectivity – Bangalore city has got excellent connectivity. People can get reach any corner of the city with ease here.

     8) Transport – The Bangalore transport system is one of the best transport systems in India. Reaching any corner of the city is possible because of the wonderful transport system the city has.

     9)   Bangalore Aero Show - The Aero show is organized once every 2 years. People from all over the country come to watch this show. This  show is held at  Yelahanka  Air Force Base.

  10) Job opportunities – Bangalore gives each and every person an opportunity to get a job in this city. There are a lot of companies established here in Bangalore because of which every person gets an opportunity to find a job with ease.

   

   Hope all the above mentioned reasons help you in getting to know Bangalore in a better way and also motivate you to invest in a real estate project too in the city.