There are very fewer people who wouldn’t dream of buying a flat or villa of their own in Bangalore. As it is one of the biggest investment choices most of us need to acquire. Especially if one is staying in a rented flat, it gets harder when the landlord increases the rent every year and so automatically, our mindset changes to dive into a search villas for sale in Bangalore. We might have to pay a handsome EMI, but the deal is nothing more than owning a villa in Bangalore for most professionals working hard with burning ambition.
Therefore, as the festive season arrives, marketers and agents are adopting the route of freebies and discounts. When you hunt for villa projects in Bangalore, you consult with property owners, brokers and bank officials. But beyond that, there are certain points to be reviewed. Keep your investment plan safe and reap a good value by taking these precautions.
Here are five essential precautions for villa buyers in Bangalore:
1. If the project must deliver possession on time and keep the transaction completely safe, there have to be a few legal documents to be checked. Building plans, floor plans, structural safety certificates, no-objection certificate from the municipal authorities, environment clearance, urban land ceiling certificate, commencement certificate and title deed are all important. If the buyer is unable to understand the authenticity of documents, a legal advocate has to be the perfect fit.
2. A written agreement with the developer, which includes all the clauses, terms & conditions and legal implications. It helps you really well because the real-estate regulator and clear guidelines for this sector are not implemented in our country yet. The agreement should focus on specifications of the apartments, related to the features and specifications of the facilities and amenities you have seen on ads. Don’t miss the payment plan, time of delivery and quantum of penalty if any party falters. The construction deadline of the developer and payment schedule of the buyer are also important aspects of written agreements.
3. Bank loans help you check all the documents regarding the villa you planned to buy in Bangalore. They go through the best course of action, including credentials of the builder, to ensure that the market value of the insurance does not diminish. A background check of the developer documentation is required from both the ends. Taking a small amount of loan from a bank too is involved in the whole process, and anytime later, you can refund the loan without any penalty.
4. These days, villa projects in Bangalore are most focused on developing neighborhoods like Yelahanka, Jala Hobli, Vidyanagar, etc. Amidst the greenery, in four to five years, the expansion is going to be really huge. Almost entirely, the region is planned for developing areas with academic institutions, super-specialty hospitals and business. The region also sits close to
Kempegowda International Airport and Manyata Tech Park. The Hebbal flyover makes a lot of difference to commuters.
5. Calculate the total cost: Many a time, brokers just mention the basic cost and not other factors such as internal/external development fees, preferential location charges, parking/club/statutory charges, and service tax, which increases the total cost. Some more affairs play a role of the final price tag of the villa, depending on the location, the builder’s reputation, etc.
Choose a luxury villa for sale with complete satisfaction, especially when it comes to construction quality and legal compliance. At the end of the day, it is personal preferences of the buyers that matter the most when choosing the best villa projects in Bangalore.