Buying Property in India:
As you move towards making that final call for purchasing a property,
it is always advisable to check on the finer details and act
accordingly. As we are always looking forward to helping our esteemed
customers in terms of making informed decisions, we are recommending the
following steps before cracking the property deal.
Title deed of title of the land:
As
you are planning to buy a property, first and foremost thing is to
check down the title deed of that property. This is the first step as a
property title deed is the legal document which proves the ownership of a
particular property in India.
And as per the law, the title deed derives certain level of rights
and independence to the person who holds it and such deeds are required
where person wants to transfer his ownership. This document usually
holds description of property along with the person’s name that holds it
and multiple persons can be listed as owners, in case the property
belongs to more than a single individual.
Official seal, no Photocopy:
It
is most important to note that an official seal is used to point out
that the deed is recorded officially and normally it is signed by an
owner or officers and a witness who may be a regional officer or a
clerk. As a buyer, you must check for the presence of official seal in
the document.
And here is the biggest catch, as you are looking forward to buy this
property, you must ask for the original deed document and not a
photocopy because there are times when the seller might have taken a
loan and given in the original deed document to the bank.
Pledged Land:
There
are a number of property owners who take bank loan by pledging their
property with a particular bank. So in this case the property belongs to
the bank for the time their loan is not cleared. You need to make sure
that the property you are about to buy is not pledged. And in case the
sellers acknowledges this fact, and paid entire amount due then bank has
to issue a “Release certificate”. You must ask for this bank document
as this release certificate is needed whenever you want to take any loan
in future.
Property Tax and electricity bill receipts:
This
is again a very important aspect of buying a property. Property taxes
and electricity bills are first charge on property that is paid to the
concerned government authorities or municipality. As a buyer of the
property it is your right to make enquiry in government and municipal
offices to ensure whether all tax and electricity bills have been paid
as on date.
Size and Measurement of the Property:
It
is always better to measure the land exactly, before registering any
property. And we would surely advice that you should get this done with
authorized surveyors. This would avoid many problems coming in future.
And additionally for the sake of your understanding, you can take your
property survey sketch from survey department and do ensure the accuracy
of the measurements.
As Investors Clinic
is always committed towards providing the best information for its
customers, we are sure that these tips will go a long way in ensuring
better and transparent deals for you.
Bangalore is arguably the city that has benefited the most from
India’s IT boom. A pro-active government is to be commended for the
fascinating growth the city has seen in recent years which has been,
among other things, music to the ears for real estate investors. With
newer projects and a thriving consumption-oriented urbane population,
the city offers capital appreciation well worth gaining. For you to make
the most from the city’s growth, here are 10 best regions for real
estate investment in Bangalore.
Arguably the locality in Bangalore that has showed
the maximum appreciation of capital prices, Indiranagar- aside from
being well developed is aso surrounded by prime locations including
Vimanapura to the east, Ulsoor to the west, Byappanahalli to the north
and Dommlur to the south. The presence of reputed schools, colleges and
hospitals as also shopping malls, gardens and other recreational
facilities make Indira Nagar one of the most favoured residential
localities in Bangalore. In terms of monetary rise, 375% return on
property investment has been recorded in Indiranagar since 2005.
Sarjapur is one of the fastest developing locations in Bangalore as
of now. Well connected to major localities like Whitefield, Electronics
city and Koramangala and with a proposed IT SEZ by Infosys and the new
corporate space of Wipro have all made this just about perfect for
plotted investment. In addition, several reputed educational
institutions and shopping centres etc. could be found here making
Sarjapur all the more attractive.
Situated close to the Banaglore International Airport, Nasarapura is
all set to be a major manufacturing hub. 685 acres of industrial land
has been allotted by the Karnataka Industrial Development Board with 22
major companies including Mahindra Aerospace and Honda Motorcycle having
already acquired land. The real estate prices are projected to reach
Rs. 900 per sq ft within the end of the year.
Located on the northern fringes of the city, Hennur comes with the
double attraction of being in the vicinity of the Bangalore
International Airport while affording access to the city centre that’s
some half an hour drive away. The property rates in the area have soared
in recent times thanks to the four lane highway that’s proposed for the
cargo road to the Airport. The current prices for properties range from
about Rs. 80 Lakhs to Rs. 1 Crore and is expected to see a rise of 15
to 20 % in the coming years.
Yelahanka is situated in North Bangalore, some 19
km away from the International Airport. The property prices began to
rise after the airport came into existence. The Karnataka government has
instituted a body the purpose of which is to develop North Bangalore as
a business hub. This is expected to eventually generate 40 lakh jobs in
the area in the coming two decades. This makes Yelahanka a great
long-term investment prospect.
Devanahalli, located some 40 kms in a north eastern direction from
Banaglore is fast evolving as an IT hub in the city. The presence of the
multi-billion dollar Devanahalli Business Park, India’s second largest
International Airport and also the proposal for a Rs. 1000 Crore
upcoming financial city make Devanahalli an attractive prospect for the
real estate investor.
On East Bangalore, KR Puram is a good investment prospect. Located at
the intersection of the Old Madras Road and the Outer Ring Road on NH
75, KR Puram is well-connected. It is also close to two major IT
hubs-Whtefiled and Manyatha Tech Park, which makes the location
especially attractive for IT professionals. The widening of the
Peripheral Ring road that is proposed will also add value to a property
in KR Puram.
While the recent bout of industrialization has up
the ante for Hoskote, it is as a long term investment option that
Hoskote will work best. Currently, it’s the government planned
infrastructural development projects that are the mainstay here with a
thriving residential population as well. The fact that the taluk lies
between NH 4 and NH 207 attributes to its connectivity.
Whitefield’s real growth story began in the 2000s with Bangalore’s IT
boom. This is essentially a microcosm that has well-developed social
and physical infrastructure amidst lush greenery. The presence of famed
international schools and hospitals are also value add-ons. Some
outstanding residential projects are already in place in Whitefield. Due
to the presence of a thriving community of IT professionals Whitefiled
is a great rental market as well. A 11-14% of steady annual growth over
years with more IT and infrastructure projects in the pipeline, this is
one locality that’s going to stay investor-friendly.
Banashankari situated in South Bangalore is considerably less ‘hip’
in terms of lifestyle options but what it lacks there it makes up for on
the investment front, with a 10 to 15% annual appreciation. It is also
listed among the 50 best investment destinations in India for the year
2015 by the financial information portal, moneycontrol.com. Banashankari
is also Bangalore’s largetst locality, stretching from Mysore Road to
Kanakapura Road and with the city spreading out, this is one region that
will see newer projects, and thereby more growth.
