Overview :

Buying a Dream Home is a lifetime goal and, in some case, it may be an investment for savings from their career. the list of factor

  • Location
  • Connectivity
  • Quality of Construction
  • Vastu Complaint
  • Undivided Share
  • Best Layout Plan
  • Approvals and certifications
  • Carpet Area & Undivided Share
  • Specifications
  • Rental & Resale Value

For any Home Buyer should consider before deciding to invest in a property to ensure then their investment is perfect.

We brief 13 key factors below in detail which will help the buyers to know about real estate:

1. Location:
  • Location of the project is also a significant factor while buying property as it influences the value of the residential project in terms of the property price.
  • In Bangalore, properties are divided into Residential, Commercial and Office Space. Price of these types also depends on their availability and neighbourhood.
  • In addition to this civic infrastructure, connectivity, and frequency of local transportation are also the factors that Influence the value of the project/Property.
2. Project Titles:
  • The Clear title indication that the Project name is officially registered (RERA) on the behalf of the builder.
  • In other words, it is a title without any kind of lien or levy from creditors or other parties and poses no question as to legal ownership.
  • An individual or the organisation who has obtained the title will be the undisputed owner and there is no further question like who owns the property, and there is no chance that anyone can challenge the ownership or make any kind of legal claim to the property.
3. Connectivity:
  • A well-connected City or Town will always be ahead in city development and attracts the investments from various sectors which eventually draw the civic features into the areas.
  • Transportation is a vital factor for the growth of any area or part of the city. As it will have different modes of transportation, Roadways - Inner Ring Roads, Outer Ring Road, and Signal Free Corridors like Peripheral Road which will enable residents that mode of transportation is improving with various transport facilities.
  • When you buy/renting a house, you aren't just buying a house. Also, you are buying a neighbourhood. Normally any Homebuyer will look into the surrounding of the selected property/project such as distance from the major areas, preferably Schools, Hospitals, Shopping Malls, Banks, ATM’s, Recreation centres like Cinema Hall, Theme parks which are the centre of focus that adds market value to the project.
4. Built Up Area:
  • Built up area is the area of the apartment that includes the area covered by the walls or it is the sum of carpet area in addition to the thickness of the walls and the balcony.
  • Super built-up area is the sum of the built-up area along with the area under common space available in the project are Lobby, Lifts, Staircase & etc.
5. Carpet Area:
  • Carpet area is the actual area of the apartment that a carpet can cover, which does not include the area of the walls.
  • In normal standards, the Carpet area will be 70%-80 % of the Super Built-up Area.
6. Best Layout Plan:
  • Choosing a Layout plan first should start with how large a home will fit your lifestyle. Also, make sure that you are basing your decision on how the home feels for your daily activities.
  • Layout plan will describe the arrangement of residential towers, open space available, amenities, landscape area and the driveway etc.
  • This is nothing but the percentage of open space available for the residents, amount of Sunlight, Breeze that enters into the unit. If the project is developed in the vast area then project area must be well connected to all corners.
7. Quality of Construction:
  • When you buy a property, you must be aware of the quality of construction too. There are new materials and technologies that have improved the construction process a lot in past few years.
  • It is necessary to adapt to the latest technology, in order to ensure that project developed is of high quality that can withstand worst situations like Earthquake, Fire Accidents etc.
  • As the new technologies are evolving, the requirements of civic construction keep on updating due to continuous efforts. Most of the builders use innovative technology along with the quality material in order to ensure safety, strength, and durability of the project.
  • The implementation of these technologies in the present era will reduce construction time. This Technology varies based on the type of Constructions:
  • MIVAN Technology
  • Precast Technology
  • Unitised Glazing and Curtain Wall System
  • Diaphragm Wall Technology
8. Khata:
  • Khata is an essential document when buying a new property. It may be defined as “A document that shows a property owner having an account with the municipality for paying taxes”.
  • The concept of Khata was introduced by BBMP after formation in 2007. In order to simplify the collection of property taxes from residents of Bangalore, khata is the need for uniform taxation policy.

Types of Khata : Any property buyer should know about Khata while buying a new property.

Khata is divided into three types:

A Khata:

An A-khata means you are buying a property that is legal, and it will allow you to construct it and obtain a trade or building license.

B Khata:

An B-Khata means that the property is illegal or semi-illegal, have pending property taxes to be cleared or do not conform to government rules regarding properties.

B Khata can be upgraded to A Khata property by paying due taxes till date and betterment charges levied by the local authority.

E Khata:

E-Khata refers to the electronic khata that is filed online. The property owners can pay the taxes online.

A separate register is maintained by BBMP that list the legal, illegal or Semi-Legal Properties in the Bangalore. This register enables BBMP to collect taxes from buildings constructed illegally i.e. properties in violations of by law, construction is done in unauthorised layouts or in revenue lands or properties without having issuance certificates.

9. Vaastu Complaint:

Vaastu is an ancient science of architecture that provides the guidelines to be followed while setting up an office or directions to be followed while building a residential space. An Ancient scripture called Vaastu Shastra provides the guidelines, are as follows The Direction of the main entrance, Kitchen, master bedroom, wash room and utility

As there is a belief that entire universe is made up of 5 elements - Earth, Wind, Fire Space and Water. All these elements should be balanced properly as it essential for the existence of life. It is applicable for residence since it is the part of the universe.

Specifications

This indicates the details relating to the construction of a structure. The Specification, usually designated in the blueprints of the construction. It also describes the procedure involved in the construction, types of materials used, and the styles and designs that are to be incorporated etc.

10. Undivided Share (UDS):

Undivided Share is the percentage of land allotted to the buyer while purchasing a flat. When a Home Buyer Purchases an apartment, he/she is authorised to two things:

To Construct the Building. The proportionate share of the land on which the whole Building is constructed.

11. Approvals:

Any developer/landowner should get the permission to construct the property from the authority regulating the property development which is concerned in the respective area. For example, Bangalore has a different regulatory body which takes care of different parts of the city which is based on location.

Approval Authorities in Bangalore

Banaglore Development Authority (BDA)

Bangalore Metropolitan Region Development Authority (BMRDA)

Bruhat Bengaluru Mahanagara Pallike(BBMP)

Bangalore International Airport Area Planning Authority (BIAAPA)

Commencement Certificate is an Official document issued by the local Town Planning or Municipal Authorities to allow or permit the builder to begin construction or work, once all norms, licenses, permissions and consents have been obtained from the concerned or appropriate statutory authorities.

Occupancy Certificate is a document issued by the local government agency or building department certifying a building’s compliance with applicable building codes and other laws and indicating it to be in a condition suitable for Occupancy

12. Rental & Resale Value:
  • Rental Yield is the return , that the property investor is likely to achieve on a property through rent. It is a percentage figure, calculated by taking the yearly rental income of a property and dividing it by the total amount that has been invested in that property.
  • Resale value of the Property is the amount it is expected to sell for at some point in the future. Many things, including any improvements made to the property and the overall age and condition of the property can also affect the resale value
13. Types of Communities:

Based on the nature of construction, social infrastructure and the accessibility to the external entities residential venture are listed as below.

Gated Community

Retirement Villages

Mixed-Use Developments

Township Projects

Condominium

Gated Community:

A Gated community is a residential housing property with a protected environment and dedicated compound or wall built around the property. It has controlled entrance or dedicated pathway to travel within the campus for pedestrians, bicycles, and automobiles. Gated community plots are different from the normal apartment. It has small streets, common amenities which include Clubhouse with indoor games, outdoor games, swimming pool, shopping complex, convenience centres, clinic & etc within the campus.

Retirement Villages:

Retirement Village/Community in Bangalore is a residency sector mainly built for senior citizens aged 55 or above. It is designed for residents who love to lead an independent life.

Residents of Retirement Village will get accommodation and services essential for their daily life other than the normal service available in other community venture.

Apart from usual facilities, the retirement village will have some extra facilities like old age care, Nursing Homes, parks, and pathways for walking.

Mixed-Use Developments:

Mixed-Use Development is a type of real estate project which is characterized as pedestrian-friendly development that consists of two or more residential, commercial, cultural, institutional, and industrial blocks. The Functions of each block will be integrated with other and can be accessed by every individual such that residents can get access to every facility close to the doorstep.

Township Projects:

A Township is a self-contained residential zone which is the large-scale venture usually developed by some of the reputed builders. Since the culture of living has changed drastically with the evolution of the latest infrastructure and amenities. These Township projects will have all civic infrastructures available in the City. The residents can access main facilities - Education, Hospitality, Medical Institutes, Banks, ATM, Transportation and Super Markets.

Condominium:

A Condominium is a type of real estate development which refers to a group of housing units where the homeowners own their individual unit space. This type is best suited for the working professionals and nuclear family who love to leave close to their office with frequent transport facility.