Bangalore is a complete city. It is a place where working professionals and retired professionals can easily live and enjoy. For working professionals, there are enough opportunities to explore and grow in their career. For retired professionals also one can enjoy the pleasant weather and stay comfortable. Owing to a number of factors, Bangalore is the prime destination for investment. But there are a lot of factors which one should consider while investing.
One should consider whether the plot is in the prime location. A plot close to upcoming government project like an airport, highway etc. fetches more price. You need to know the potential of the plot if it is purchased for investment purpose. Also, you should periodically be able to monitor the activities on the plot. Nowadays encroachment of plots is quite common. So there should be a dedicated person who can take care of the property. A good fencing should be done to avoid trespassing.
There are many areas in Bangalore where many people are investing. Many real estate developers are also dealing in the selling of plots in specific areas. It is beneficial to deal with them to avoid any risk related to fraud sellers. One can be assured of good paperwork and formalities related to transfer of property while dealing with such sellers. Here also, one should not ignore the reviews provided by present buyers of the property. Taking the advice of property consultant or relatives can also be beneficial.
You should decide whether the real estate investment made is for investment purpose or for personally living. Also if it is for investment purpose then for how many years? Depending on the future scenarios, the selling decision can be taken to make maximum profit. If the property is purchased for living purpose then one should see whether all the basic amenities like school, hospitals, public transport facilities etc. are in close vicinity.
Buying a property in an already developed area many not fetch you a good result. You may invest INR 1 crore and get 2 crores in 2 years by investing in the developed area. On the other hand, you invest INR 50 Lakhs and get INR 1.25 crores in an upcoming location. Return on investment by investing in upcoming location is higher than investing in the developed area. So the area for investment should be chosen wisely if it is for investment purpose.
It is good to invest near manufacturing hubs, SEZ’s or industrial parks. Investment done near commercial areas can fetch more return on investment. There are many government projects like the upcoming metro rail project, new airport etc. So many good real estate projects are carried out in these areas. Purchasing property near these areas for personally living or for investment purpose can certainly give good returns.
Many people who earn well especially NRI’s are purchasing plots for building villas or luxurious apartments. It requires a good amount of maintenance of these properties. You can enjoy holidays by staying in these properties and later on sell it for good returns.