Wednesday 25 March 2015

Plan before you invest in the ‘futuristic’ markets of Bengaluru.

Bengaluru is one of the hot spots for the investors all over the world and India as well. Most of the people are in the lookout for a home in Bengaluru either to stay or to invest or look for a place to stay in India. The reason is it is one of the cities where the growth prospects are high ensuring high ROI and it’s a place where the climate is pleasant too. The infrastructure is also good with all amenities and the job generation factors are also high with a cosmopolitan culture.
The pertinent question is where to invest in Bengaluru. What are the growth corridors of Bengaluru and where the futuristic markets of Bengaluru lie? In order to understand this, one has to go into the future and project a map of the future Bengaluru and speculate the conditions right now. For this let’s have a look at the present conditions of Bengaluru and try to understand the future.
 
Few think Sarjapura as a prospective area having potential as there has been considerable residential and commercial growth with considerable office space absorption in the area. The criteria is when there is an abundance of economic growth the demand of the area from the residential perspective increases as most people want to stay near the work place. What the buyers look for are hospitals, schools, colleges, entertainment hubs, proper connectivity, communication networks and commercial hangouts with proper infrastructure. Buyers eye on the area and to cater to the demands of the prospective home buyers the developers launch projects with the amenities and the market in mind at competitive rates. Thus a growth corridor like this becomes a “futuristic market” which in turn means it has a sound future potential. 

 As far as Sarjapur Road is concerned with roughly about 19 to 20 schools in the vicinity, the area has been attracting not only the first time home buyers but the second time home buyers too who wanted to stay near prestigious schools for the sake of their children. Thus in a way this affects the home buying decision of the family and in turn appreciates the prospects of the area. 
Few more prospective areas of Bengaluru are where there are large number of projects being constructed and such areas include among others, Electronic City, Whitefield, Sarjapura Road and their vicinity. There are newer areas being developed and construction of buildings and infrastructure are on the way. The various indices of the real estate industry indicate that these areas account for almost 50 to 60 percent of the buying activity and the property ranges from Rs. 40 lakhs to Rs. 1 crore. 
Although the demand in these areas is high there are certain points that are to be kept in the mind before deciding to invest in these areas.  If you have booked a property with the x builders having more projects surely their will be a Customer RelationShip Mangers (CRM) for particular projects.Here are the few points CRM should be asked
  • Check out your requirements – whether you require an apartment in a complex with all amenities or you want just a house or a home with only the basic amenities. 
  • Try to make sure that the place you buy is a BMC approved plan with the intimation of due approval or disapproval and it is always recommendable to look for the commencement certificate (CC) ensuring that the builder has adhered to the legalities and the plans of the local authorities. 
  • If you decide to invest in a resale property it is advisable to check for the Title certificates which indicate the history of ownership of the property. 
  • At the time of possession it is mandatory to get the Occupation Certificate (OC) from the builder. 
  • It is often observed that the growth corridors are rid of the essential civic issues like water, electricity, sewerage, drainage and other conditions which make the daily living conducive. There are other hassles like the ongoing constructions which can be an obstacle for proper living and can create blocks for connectivity. 
  • It is advisable to refer to the City Development Plans as it has the infrastructural and allied growth map of the city.

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