Bangalore is already the IT hub of India and now, it is emerging as a hot option for real-estate investment. There is a boom in the real estate sector due to the ever-increasing demand for residential properties. This increase in demand can be attributed to multiple factors such as the increasing number of migrants relocating to Bangalore for better jobs and lifestyle.
This can be seen in a negative way by the state authorities since they’ll have to make more efforts and make their facilities accessible to a larger number of people. However, this is good news for the real-estate investor because the increasing population will keep the demand high and will lead to a high property value appreciation, leading to better ROI for homeowners in Bangalore. That said, if you are planning to buy flats in Bangalore for the same reason, below are the factors you must consider.
- The locality/area factor
Every city is divided into categories based on factors such as average cost of property there, average rent one might have to pay for a 1BHK flat, crime rate, proximity to metro or local transport options etc. You must look into these factors and choose a good area for residential purpose. If required, ask your friends for suggestions. You can also check the internet and ask your social media friends to help you out.
- Appreciation rate
Higher appreciation rate is equal to higher ROI for the investor. Thus, check the property value appreciation rate trends of a particular area before purchasing a flat in Bangalore.
- Credibility of the builder
Last but very essential factor to consider is the credibility of the lender. Make sure your builder has a good reputation in the market and is RERA approved. Also, make sure the property you’re buying is RERA-approved so a home loan can be easily availed for financing your purchase.
Additional Read: A Guide to Buying Flats in Bangalore