Top 10 Frequently asked questions before buying a property in Bangalore

The Property Market in Bangalore is still stable in comparison to the property markets in other big cities across India such as Mumbai, Chennai, etc., these cities are the places where the prices have hiked over time and find no place for an economical budget to buy a property. 

The Online Property Management Companies are said to have an array of properties with different budgets and that makes it possible for everyone to buy a property they love under an impressive price. 

You can find great value for the residential as well as commercial properties in Bangalore. As a buyer, you must have different reasons to buy a property like, it could be for investments or you think it’s an ideal home for you to live or for business or anything for that matter. 

Buying a property involves all kinds of risks including your savings. Some buyers have reported their awful experiences after buying a property without proper discussion and research. 

A wrong decision in investing a property can totally kill your financial planning. There have been many such cases in almost all the big cities and it will continue to be so if you do not change today. Sometimes taking a wrong decision could be stopped if a Property Management Company in Bangalore is involved. A Real estate deal can involve risk, but if the time favors you and you have done enough research before buying a property, then the property must yield greater returns.

Here, if you are a buyer and you're investing in a property, it is absolutely essential that you draw down some questions to the developer or any concerned person and require satisfactory answers in return before involving in the talk of buying. 

 

There are certain things that you should know before buying a property and so you are free to ask the respective person before bringing the pen to the agreement paper. 

The questions you should ask before buying a property in Bangalore, 

1. If it’s an apartment, ask how many units have been sold?

2. Explain the cost breakdown involved in the property?

3. Are the materials used to build the property of good quality?

4. Does the location have all the essential amenities nearby?

5. What is the size of the property?

6. What would be the payment plan? 

7. If they are a reputed builder, what are their projects in the past?

8. What would be the non-builder cost?

9. Is the property free from ligation?

10. Can I see the occupancy and the completion certificate?

Either you can ask the above-mentioned questions before buying a property in Bangalore or you can employ a Property Management Company to do the proper assessment of your property. 

Some of the best places to buy a property in Bangalore:

Bangalore city has some of the hottest locations where you would be interested in buying a property. To know more about the opportunities in buying, selling, and renting of the properties, Visit the Ownerstown Platform, a Property Management application made in the interest of providing the consumers with good experience in searching for an ideal property. The application is launched by an Online Property Management Company in Bangalore, Ownerstown. 

The best locations in Bangalore to buy a great property are as follows, 

● M.G Road

● HSR Layout

● Koramangala

● Indira Nagar

● Jayanagar

● Sarjapur and much more

If it’s an apartment, ask how many units have been sold?

If you are buying a property in the apartments, you should know how many properties have been sold. If you don’t feel like asking directly about all these, you can ask them how many inquiries they receive in a day. Having a Property Management Company like Ownerstown can be really helpful since they already have all such details for you about the property that they had confirmed beforehand.

 It’s very well known that the person who’s trying to sell a property will not say the exact amount of flats that’s been sold. So it’s wiser to ask them questions like this. 

Explain the cost breakdown involved in the property?

When you are trying to buy a property in Bangalore, you can visibly see that there are various costs involved apart from the building cost. You can ask the builder about the complete breakdown of all the expenditure in the building. It will make it easier for you to calculate all the costs that are linked with the property that you are planning on buying. 

Are the materials used to build the property of good quality?

Being aware of the products used in building the property is important. So, You should discuss this with the builder before buying the property. Right from the cement quality to the paints and attachments. 

Does the location have all the essential amenities nearby?

When it comes to buying a property in Bangalore, you should know about the location first. There should be all the essential amenities near you like schools, colleges, grocery shops, hospitals, etc., You can employ a Property Management Application to seek an ideal location for you. Also, Bangalore traffic is to speak for itself.

What would be the payment plan? 

You should ask them about the plan of the payments. Some sellers have a connection with the banks to help you out financially. And you should pay the desired amount in the informed time. Else, the property will become someone else’s. It is best to take guidance from a Property Management Consultant if you are stuck somewhere in the process of the payment or happen to have some financial issues. They will help you sort it out. 

If they are a reputed builder, what are their projects in the past?

Never fail to ask for the builder’s projects in the past. This will show you how potential the builder is. 

What would be the non-builder cost?

As you know that there are taxes included apart from the builder cost, discuss the non-builder costs before buying the property. 

Is the property free from ligation?

Make sure the property is free from ligation or any other legal issues. Demand for the proofs. If you have a property Management Company, they will check for the necessary proofs here on your behalf.

Can I see the occupancy and the completion certificate?

You must see the occupancy and the completion certificate before buying the property. They play an important role in buying the property.  An occupancy certificate is provided to make sure that the property is handed without any problems to bank loans. The completion certificate is provided once the project is over and is issued by the respective Municipal authorities. 

CLOSING NOTES:

Without interrogating the builder, some customers buy the property and also lose lakhs together. So it’s very important for you as a buyer to ask questions to the seller for the necessary proofs before buying. 

Never forget to ask the seller the required questions! Employ a Property Management Company and reduce the burden on your shoulders.