Ah, the joy of smart investment!
If we had a to-do list for life decisions, we are positive that most people would pen down “buy land” or “invest in real estate” in their respective lists. That’s because investing in a piece of land is one of the wisest ways to financially safeguard the future.
Even through volatile times, real estate tends to prevail and stay profitable, albeit with a few hiccups along the way. So, there’s no doubt that buying a plot in Bangalore is a great idea. However, the process of purchasing the “right” plot is often riddled with confusion and concerns. There are multiple options across the city. Which one is the best choice? What are the parameters to consider?
We don’t have a template or default response to these questions because needs and preferences vary. What’s perfect for one individual may not make the cut for another. That is the biggest reason why we stress on individual research. To help you in this quest, we have put together a checklist and a few guidelines. Let’s begin.
Finalize the location
Bangalore is a large, urban city with many great locations. While some people love the feel of North Bangalore, some others prefer Central Bangalore and South Bangalore. We advise you to look through the real estate trends, market value, upcoming properties & commercial buildings, etc. and then decide the right area.
If you would like to purchase a plot far away from the hustle-bustle of a metropolitan, you could look at options in the outskirts too. There is absolutely no lack of plots in our beautiful city.
Think about the future
Plots in Bangalore are an investment for the future. So, choosing a plot that shows a lot of promise in the coming years is the safest idea. The location also plays a role in this aspect, which is why we have stressed on this immediately after speaking about the location.
Go through the legal obligations
You must be aware of all the legalities and compliances that come with purchasing a plot in Bangalore. RERA and BDA are examples. Mother deed/sale deed, registration, survey no., and stamp duty are other things you must pay attention to.
Remember that the legal requirements are different for agricultural land (to be bought as non-agricultural land) and commercial land. You must check based on the type of land you are purchasing.
List out your expectations
Most plots in Bangalore today come with a variety of amenities including a clubhouse, a swimming pool, children’s play area, jogging park, etc. Go through the offerings of multiple plots in your preferred area and compare these with your expectations. This will help you choose a plot that offers almost all the amenities you have in mind.
Check your budget
When it comes to fixing a budget, you must be wise and consider all factors such as desired location and your requirements. Prices of plots can vary from one region to another, which is why understanding the latest trends is important. Make sure you compare various properties so that you get the best deal.
Buying a plot in Bangalore is quite different from buying an apartment or a villa. You have to look at it differently and put in more time. We hope you make the best choice for you and your family!
