Investing in a city that’s growing at a pace faster than majority of the metropolitans is a daunting task; especially if you are a first-time buyer. The depth and sensitivity nature of real estate investment in Bengaluru makes the buyer pickier. Let us deep dive into a brief checklist that guides you to make the most informed decision –

1.       Nature of investment – It is essential for the buyer to jot down minimum of a “5-year plan”. Whether one is searching for “flats in Bengaluru” or “investment in Bengaluru” is the first clarity needed. This operationalizes the next steps and considerations. For example, in case of investment in the city, the location, variant, neighborhood, and most importantly ROI is given utmost importance. A project nearby to the commercial hub, with fast-moving amenities yet lower cost is evaluated to cater to the requirement of rental seekers. On the other hand, in case of end-use flats in Bengaluru, one would search for a better gentry, advance amenities, ease of commuting etc.

2.       Location – In any case of purchase, one should select a convenient location, especially in a city that’s densely traffic heavy. Three key aspects are to be considered – proximity to workplace in order to reduce or ease the daily commute, proximity to both social and civil infrastructure to make the daily life easy, and lastly the future potential the location holds. The last point works as a great trigger since real estate investment in Bengaluru being a tech city is not only a matter of ownership but also lucrative returns in the long run.

3.       Pricing – Make a full analysis of the prices of a particular location and explore multiple options and choose the one ticking off maximum on the list. Pester the developer to get a clear picture of total expenses, factor in stamp duty, registration charges, GST, legal fees, property tax, and monthly maintenance.

4.       Financing – the nature of investment and further the affordability is an important checklist. With the advancement in technology, it is a cake-work to fetch one’s feasibility and long-term implication for a money-heavy investment. This step is extremely important in order to decide the payment break-up, whether to go for an under-construction (in case of dependency on loans) or ready-to-move (in case of larger owners’ contribution). Additionally, all the prospective options should be compared basis the innovative payment plans offered by developers like subvention, pay later, etc.

5.       Resale/Rental value – It is important to understand the returns on an investment. How much ever emotional angle is attached, a real estate investment in done with returns in mind, even if it is done with an end-use mentality. Being a part of a city like Bengaluru, where not only personal but even professional life is dynamic, one should be prepared for instant changes. In such a scenario, the future potential of the location and the property in decision should be evaluated keeping in mind rental yield and further resale valuation.

6.       Compliance and regulatory concerns – Even though after the implementation of RERA across has assured a safer space for buyers, it is always a better option to evaluate the legal and regulatory aspects of a property. The paperwork involved in such an investment are recurring and cumulative but very intricate. It is better to read fine prints, check and recheck all the approvals, and make an informed decision.

Understanding the essential things to check before buying a flat in Bangalore, can make all the difference in finding a property that aligns with your immediate needs and long-term goals. Known for its variety and rapid growth, Bangalore’s real estate market offers numerous opportunities for homebuyers, but a diligent approach is important.