Is it worth buying Apartment in Bangalore?
Thinking about buying an apartment in Bangalore? Let’s look at what you need to know!
Price Range: Apartments can cost anywhere from ₹20.8 lakh to a whopping ₹10.65 crore. So, there’s something for every wallet size.
Price Trends: The usual prices give us a clue about how much you might spend. It’s smart to check this out so you know if you’re getting a good deal.
Market Trends: Bangalore’s homes are selling well because lots of people want to live near where the tech jobs are. Prices go up and down, so it’s good to keep an eye on them.
Budget and Financing: Think about how much money you have, the loan you might need, and other costs like fixing things, taxes, and bills.
Resale Value: A good spot, nice extras, and new stuff being built nearby can make your apartment’s price go up over time.
Options Available: Over 10,000 homes are ready to move into, plus lots of others you can buy from the current owner or get a brand-new one.
Bedroom Options: From cozy from 1 BHK to 5 BHK, there’s a space for everyone.
Builder Properties: Check if the builder is trustworthy and has all the right papers before you buy.
Popular Localities: Areas like Sarjapur Road and Whitefield are popular because they have lots of handy things like shops, schools, and hospitals.
Location: Where your home is in the city can change the price a lot. Think about how close it is to your job, if it’s easy to get around, and what’s nearby for fun and needs.
Thinking about more than just the price and place for an apartment in Bangalore? Here’s what else to keep in mind:
Look for extras like a gym or a pool, how well the building is made, and if the area is planning cool new things.
Long-term Plans: Are you going to make this your home, or are you thinking of it as a way to make money later? Knowing this helps you choose wisely.
Legal and Regulatory Aspects: Make sure the builder is on the up and up, has all the right permissions, and that the papers are all good to go.
Future Growth Prospects: Think about how Bangalore might grow. More jobs, better roads, more metro lines, and new places to hang out can make homes more in demand.
Before you decide to buy, do your homework, talk to experts, and think hard about the good and the bad. And hey, renting might be a smart move too, especially with the water issues in the city.
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FAQs
View all FAQs
What is the application process like?
The application process is typically like a KYC process to get to know our customers.
What are the common lease terms?
The rental contract is for a standard of 11 months. However, you can choose how long you want to stay.
Can I renew my lease at the end of the term?
Yes, you have the option to renew your rental agreement whenever you wish to.
Is there any Commitment/Lock in period?
Lock in period is a commitment given by the tenants to us in order to avail free common area maintenance charge. Lock-in period should be a minimum of 6 months to avail free common area maintenance charge.
Can you renew or update only the lock in period?
No, once the contract is made you cannot update or change the lock-in period or any other terms.
Are they any hidden charges?
Being fair &transparent is our core value and we inform all our tenants about our terms &conditions in detail prior to the booking. There are no hidden charges or terms.
What is the difference between contract period and lock-in period?
Both aspects operate independently. Contract period is the 11 month legal term under which tenants will rent the flat with KOTS. Renewal of contracts is possible. On the other hand, the lock-in period refers to the duration for which the tenant commits to remain without terminating the contract, enabling them to take advantage of the free common area maintenance charges offered.
What happens if you terminate the contract (or) vacate the home during the Lock-In period ?
The common area maintenance charges offered will be reversed and you will be charged monthly common area maintenance charges for the entire stay duration.
Is there any notice period to terminate the contract?
Yes, the tenants have to serve 45 days notice period before they terminate the contract.
Are there any painting charges or move out charges?
Move out charges include painting charges to be paid (one time) by the Sub-Lessee in advance or in pre-paid manner at the time of booking the flat. If the rented flat is of Studio / 1BHK flat, painting charges are Rs 14,500 (Fourteen thousand five hundred.) and if the rented flat is a 2BHK flat, painting charges are Rs 19,500 (Nineteen thousand five hundred.).
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