Complete Checklist Before Buying Your Dream Land Or Property In Bangalore

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Buying a house is the most important in one's life, However one needs to be very careful while buying a property to avoid falling into illegal seller. Before buying a property, a number of checks need to be done to confirm that the property has a clear and marketable value. The legal status of the land is the first issue that should be addressed before confirming a property.

The first steps is to see the title deed of the land, which your going to buy.

• Confirm weather the property is in the name of seller who have full rights to sell the property without any other person.
• It is better to get the original deed examined by the lawyer, this is to check details like weather the seller has permitted any entry access to others through this property and weather any other facts has been undisclosed by the owner of the property.
• Along with the title deed, you can also demand to see the previous deeds of the land available with the seller.
• In some case, more than one person may own the property. So before registering, check if there is more than one owner. Get release certificate from the other people involved.

Deed Or Sell Deed
Sale agreement is a document by which the title of property is conveyed by the seller to the buyer. Transferring the ownership of the property from seller to the buyer. This document will help you ascertain weather the property, which you are buying, is on land belonging to society/ builders/ developers authority in which the property is located.

Tax Receipts And Bills
Property tax, which are due to the government municipality, are the first charge on property. Enquirers must be made in government and municipality office to check weather all taxes have been paid up to dates.

•  Inspect weather the latest tax paid receipts have been paid.
• If your buying house along with your property, then house tax must also be checked.
• also ensure that the electricity and water bills are up-to dates and if there any is balance payment to be made, ensure that it is made by the seller.

Pledged Land
Some people may have taken loan from the bank by pledging their land

• Ensure that the seller had paid back all the amount due.
• Ask for the release certificate from the bank, which is necessary to release all the debts over the land legally.

Measuring The Property
It is advisable to measure the property before registering the land in your name. Take the help of recognized surveyor to ensure that the measurements of the property and its borders are accurate

Agreements
Once all the matters, financial/ otherwise are settled between two parties, it is better to give an advance or write an agreement. This ensure that the owner does not change is words regarding the cost has well as make sale to someone else who offers more money.

• The agreement should be written in Rs. 50 stamp paper.
• The agreement should state the actual cost, advance amount within which the actual sale should take place and how to proceed in case of any default from either parties. to cover the loss.
• The agreement can be prepared by the lawyer and should be signed by the both parties and two witness. 
• After signing the agreement if one of the parties make default, the other party can take legal action against them.

Stamp Duty
It is tax, similar to sales tax and income tax collected by the government, and must be paid full and on time.

• A stamp duty paid is considered a legal document.
• Stamp duty is a state subject and hence would vary from state to state.
• When an agreement is to be stamped, it needs to be unsigned and updates one may execute the agreement only after the stamp offices affixes stamps on the agreement. 

Registration

Registration is the process of recording a copy of document, transferring the title in immovable property to the office of the register.

• Drafts must be prepared before actually writing the document in the stamp paper. Registration is done after the two parties execute the document.
• The agreement should be registered with the sub-registrar of assurance under the provisions of the Indian Registration act, 1908 within four months from the date of execution of the document
• Make sure all the details mentioned are accurate.
• Make sure that the deed is registered within the time limit mentioned in the agreement.
• Stamp duty should be paid prior to the registration.

Changing the title in Village Office 

The whole legal procedure of buying the property will be completed only if the new owner name is added in the village office records. An application can be made along with the copy of the registration deed to the village office to get this done. Purchase of the property is a lifetime investment. A lot of care is needed from the beginning - right from the site seeing still the registration of the land. Ensure that the document of the title are marketability with due care by an experience Advocate.

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Bangalore Real Estate Market And Trends

Bangalore has been the fastest growing city in India since the past few decades. IT has been the major growth driver and responsible for aggressive Real Estate development in the city. Being the IT hub of India, Bangalore has multi- cultural populations with good social infrastructure, excellent educational institutes and constantly upgrading physical infrastructure. Currently the most promising residential micro- markets are outer ring road, sarjapur, Whitefield and North Bangalore.

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Bangalore is the third largest hub for High-Networth individuals it is estimated to be home for over 10,000 individuals Dollar Millionaires. Bangalore has a large base of expatriates who lives and work in the city.
Bangalore is one of the most promising markets for Villas projects and row houses developments are most active in North Bangalore. High end residential property buyers in Bangalore are very sensitive in terms of amenities, product quality and units size
Bangalore is currently essential real estate giant considering the raise in settlement within the city, both residential and commercial market sectors are prospering perfectly. Flats, row houses, villa bungalows, penthouses are preferred in vast quantities like a good investment choice. There is always a great reason why real estate property in Bangalore will be proving to become great success.
Plenty of new projects, variables, gated communities and also constructions with great architectural designs have proved useful in Bangalore. Real estate success of the city plays the major role in the investors fulfillment. Builders have supplied the projects bearing in mind requirements & demands of this prospective buyers. Today, having property in Bangalore will certainly help good earning in future.
Bangalore is certainly eyed like a  hotspot by house buyers, investors as well as Developers alike. Specialists regards Bangalore being good investment solution certainly nothing like purchasing the best location.
 

Real Estate Investment Tips

What causes property prices to raise in certain areas.? A key concept behind real estate investment- is called appreciation,which is nothing but enhancement of a property's market value over time.

Real Estate investors buy property when they know that the property will gain in capital appreciation, but it is not only property investors who are attracted to this phenomenon. Real Estate appreciation takes place due to various factors including.

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1. The supply and demand dynamic of a particular location.
2. Home loan interest rates Cost of borrowing.
3. Arrival of new real estate market drives in a location.
4. Population Growth. 

Supply and Demands: When there is increasing demand for homes in certain areas, property price goes up if the amount of residential real estate projects is not catching up fast enough.

This causes the property prices in that location to raise even in future. The time for self use buyer to make their purchase is before investing activity starts in earnest location with high appreciation potential. 

Home Loan Rates: Home loan interest rate also has a direct bearing on property appreciation. When home loan interest increase. the demand for property slows down because fewer buyers can can afford to sell out the extract money required by bank, a sufficient decrease in home loan interest increase affordability and boost demand for properties.

Real Estate market Drivers: Markets drivers can be defined has Real Estate developments  in an area that increase the value of living there the area encompass many or all of these factors, which can include.

• The establishment of new work, such has office space or office complex.
• Shopping mall or Entertainment complex
• Transportation facilities that makes the location more accessible via road, rail, or air. 
• Infrastructure projects that increase the quality of living in that area, such Drinking water supply, electricity supply, public garden, garbage free facilities etc..
• The proximity of schools, colleges and health care facilities that reduce travelling time.

Population Growth: Similarly, the population growth in area increase, the demand for residential property increase and in exchange market value of that area increase due to the raising demand for that area, where real estate investors can blindly put there money and get 50%- 100% capital gains in short period of time