Villa or Apartment - The Best Buy in Bangalore

Bangalore is the beautiful place and whether you buy an apartment or villa, it will give you not just a home to stay but many blissful memories along with that. To buy a villa or apartment completely depends on the budget you have for your house and on the locality where you are looking for properties for sale in Bangalore.

First of all, we will understand the pros and cons of villas, and then we will understand the same for apartments, so that it can be easy to make out a decision whether to buy a villa or an apartment for sale in Bangalore.

Advantages of Buying a villa

1. Enough space for your kids to play or to set up a garden. You can enjoy sitting or gardening in the open space. Also it will provide extra space for your car to be parked or visitors cars to be parked as the space will be your personal.

2. In terms of investments, it is found that the value of villas appreciate more as compared to apartments and can provide you with good ROI in future.

3. You can customise the villas the way you want or like according to the social status or your personal taste. There is always so much scope to modernise villas.

Disadvantages of Buying a villa

1. It is far more expensive to buy a villa as compared to apartments. If you are restricted with a budget constraint, then it is never a good idea to buy an apartment. Also it is very difficult to get a spacious villa in a city center and generally ips available in outskirts of the city.

2. The rental yield is also very less in villas as compared to apartments due to the location as less people would prefer to rent a villa in outskirts and also people don’t feel comfortable to migrate easily from villas.

Advantages of buying an Apartment

1. It is much more safe and secure to live in a gated complex or society then to be in a locality with only few houses.

2. There is so much scope to be social and enjoy a good neighborhood as many families live in apartment complexes which makes the celebrations of every festival more cheerful and colorful.

3. The rental yield from the apartments can contribute a good amount of EMI for your apartment. For instance apartments for sale in Bangalore at prime locations can yield yearly upto 3 lacs while the villas in some outskirts can offer you max 2.5 lacs yearly.

Disadvantages of buying an apartment

1. The common amenities and facilities are generally crowded and is expected to be much more crowded once the occupancy will increase in the apartments in Bangalore in coming days

2. The maintenance charges are too high in many of the apartments in Bangalore. The primary reason for this is the maintenance of lifts, security or the common amenities.

3. The price of apartments are very high these days so if someone want to buy an apartment for the sole purpose of investment then he may need to think twice or thrice before buying it. 

Top 4 Commercial hubs in Bangalore

Bangalore is popularly known as silicon valley of India due to the numerous companies located here. In past few years, Bangalore has emerged as an IT hub and the most sought after cities for commercial real estate. Not just the commercial real estate but even the residential real estate in Bangalore has seen a huge spike lately with many apartments for sale in Bangalore getting launched. 

The city has high rise buildings, lavish apartments with all world class facilities, ultra modern malls that can beat the best of infrastructures globally, numerous pubs and restaurants and much more that makes this metropolitan city completely viable to own a house here. With the emergence of companies the commercial spaces has grown exponentially in Bangalore and here is the list of some of the best known commercial hubs in Bangalore

Whitefield

Mainly driven by IT and ITes, whitefield is the prime location for the commercial segment in Bangalore. With the excellent infrastructures and superb tech parks, the location is truly mesmerizing and provides an essence of greatness of IT and IT sector in India. With many IT giants and MNC’s it is the home to some of the most amazing IT parks. Few major tech parks located here includes Sigma Technology Park, International tech park (India) Ltd. , Brigade tech park, gayatri tech park and MFAR Silverline Tech Park.

Electronic City

Electronic city is one of the largest industrial park and a commercial hub in Bangalore with three zones. It is spread over an area of 332 acres with approx 200 companies located here. The professionals from India as well as abroad come here to work and explore new opportunities.Many IT services are being outsourced by the US and other nations from here and it constantly caters to the need of IT services globally. Few of the many renowned companies located in this commercial space are Cyber Park, Infosys, Hewlett-Packard Prathik Tech Park, Velankani Tech Park, and Venkatadri IT City.  

Sarjapur

Sarjapur is located in south-east Bangalore and is the fastest developing locality in Bangalore with many IT/ITes, tech parks located in its vicinity. Infosys has acquired 202 acres of land here to set up their office. The locality also provides a very well connectivity to other major commercial hubs in Bangalore such as whitefield and electronic city. Some of the prominent companies located here includes  Prestige Tech Park-II, Embassy Tech Square, Prestige Tech Park-III, Pritech Park-SEZ and RMZ Ecospace.

Yelahanka

Yelahanka is also known as a satellite town of Bengaluru. The well-developed infrastructure and excellent connectivity to different parts of the city make this locality  a perfect place for all IT/ITes. For the same reason the locality has grown as a major commercial hub in Bangalore. 

The proximity to airport is another location advantage of the growing commercial segment in this locality. As compared to other parts of the city, the properties for sale in Bangalore within this location is quite affordable too. Some prime tech parks of yelahanka includes Manyata Tech Park, Kirloskar Business Park, Yeshwanthpur Industrial Area, Peenya Industrial Area and World Trade Center.

Top 5 Good Localities with the Best Schools in Bangalore

With the growing child, the major concern of all the parents is the good school for their kids in their own locality. This is one of the biggest decisions in the life of parents as the future and upbringing of their kids One of the bis moreover dependent on the school they choose for their kids. It is always better to look for schools that are not too far from the house so as to save the budding flowers from the excursion of traveling more miles.

Koramangala

Koramangala being a well developed well establishes neighborhood houses a total of approx 50 schools for children of every age. The other perks of living in one of the apartments for sale inKoramangala is, it comprises of international schools, CBSE schools, ICSE schools and many convents and government schools as well. The Bethany high school and national public school are considered to be the best ICSE and CBSE schools respectively so far in this locality.

Electronics City

Electronics City is better known as the hub of big IT companies as many of the top companies are located here. Undoubtedly it is among the best workplaces but apart from that it also has a well developed residential society. Now with many residences around, there comes a need for good schools in the society for the little bundles of joy. The electronic city has approx 10 renowned schools in its proximity such as Christ Academy, Ebenezer International School, and Treamis World School.

Whitefield

Whitefield is the fastest and rapidly growing locality in Bangalore with many IT and ITes and a well developed residential segment. It houses around 16 well-known schools that can give parents with a lot of options to choose a school for their child near to the house. Some of the most famous schools around this region are Vibgyor High school, The Deen’s Academy and The Bangalore School as a playschool.

HSR Layout

HSR, a name given to Hosur-Sarjapur Road Layout is comparatively a new well-developed locality with a relatively well-maintained residential society with parks and streets every few miles. It is one of the best localities to raise a kid in Bangalore and also you can get many options for flats for sale in Bangalore in this locality. Approx 14 best schools are present in this locality ranging from nursery to high schools. The most popular schools of the locality are National Public School and Lawrence School.

Sarjapur

The contemporary town was once popular as cloth production center. With the rapid development that has shaken the Bangalore, the Sarjapur also witnessed the winds and is now the well-connected modern locality of Bangalore with many good food joints, malls and schools in the close vicinity. It comprises of approx 17 schools out of which the most famous ones are Oakridge International School and Indus International School.

Is Affordable Housing Really Affordable in Bangalore?

Affordability, is the term used specially to denote that segment of real estate sector, which a common man can buy with all the savings he/she had and need not sell their kidneys for a roof on their head. Looking at the present scenario, affordable housing is related to so many factors and not just the amount which a home-seeker is paying to buy an apartment/flat or house for sale in Bangalore. Demographics play an important role to hold back this term of affordability. Also, there are many other factors like proximity to major workplaces, shopping malls, schools, colleges and the connectivity to other parts of the city that define the affordability of the property for medium income group in Bangalore. People from Bangalore are searching better option through internet.They started searching property for sale in bangalore from online portal like Quikr Homes,CommonFloor,99 Acres etc.

Lower income groups and economically weaker segments of the society play an important part in defining the economy of the country as a whole. If we consider the early years of real estate evolution in India, the EWS and LIG class did not get much care to their necessities. Nevertheless, with changes in management and particularly with the present-day authorities coming to ability, a significant amount of alteration has taken place in this regard. These 2 subdivision make up the fat segment of the sociology for India, and signify the basis of the economic system. It has been delinquent that their requisites are looked into.

Fortunately, there have been various initiatives by the BJP governance under the ability of PM Modi that have assisted inexpensive real estate sector. For instance, it is earnestly looking into is the transformation of availability –reduced commute times between the main markets of the city and houses for sale in bangalore. Lack of availability has been one of the apical ground why low-affordable housing was not approachable. Even though such hotel is outside of the essential city limit, fortified availability made separations shorter and such zones more reasonable and attractive as private goals.

Why is reasonable lodging imperative?

Making reasonable lodging is not just about helping a specific statistic to accomplish their fantasy of home possession. Valid, from a political perspective it is clearly essential to take into account the requests of a huge vote bank. Be that as it may, there is an essential financial point to be considered, too – the common laborers must have an adequate motivation to not move out of their city to have the capacity to work and win. Understand that we are not simply discussing individuals living on beneath or on the edge of the neediness line.

In 2012, the Housing and Urban Poverty Alleviation Ministry made an upward amendment on the criteria that characterize EWS. With this correction, families with a yearly family wage of up to Rs. 1 lakh now go under the grouping of Economically Weaker Section (EWS). This was a critical transform from the prior furthest reaches of Rs. 5, 000/month or Rs. 60,000 every year. The classification of Lower Income Group or LIG likewise observed an upward amendment – now, families with a yearly salary of between Rs. 1-2 lakh went under the LIG class. Beforehand, the definition connected to families procuring Rs. 5001-10000/month or Rs. 60012-1,20,000 every year.

The general population who fall under both these classes are critical for the nation's monetary advance. They give bunch administrations which our urban areas can just not manage without, but rather are extremely inclined to moving out of urban areas which don't bolster their necessities. For them, with respect to every other person, home proprietorship gives a solid mental grapple as well as budgetary security and a superior way of life – critical impetuses to stay put instead of move somewhere else.

Shouldn't something be said about moderate lodging for the working class?

This is a critical question, and calls forward the genuine meaning of moderateness in the Indian setting. Reasonable lodging additionally goes under the ambit of a much more extensive nearby significance, wherein it constitutes homes that are moderate to the most extreme portion of socioeconomic. It can likewise apply to the nearby populace in a city which, notwithstanding being more financially blessed and adaptable than the EWS and LIG sections, are touchy to high home costs inside their city.

Such purchaser gatherings will have adequate assets to purchase an OK measured property on the edges, however confront challenges when purchasing a home nearer to the business center points and comforts accessible inside as far as possible. Another approach to comprehend this circumstance is the lack of properties inside the city areas for purchasers in the budget groups of Rs. 35-50 lakh. Along these lines, a city would be said to be lacking moderate lodging regardless of the possibility that it has enough homes in the edges inside a value scope of Rs. 20 lakhs. For this situation, the potential purchasers are the individuals who can pay past Rs. 20 lakhs and are not keen on living on the edges.

Reasonable lodging overall is a productive business in view of its high rate of retention. Be that as it may, such lodging likewise propels financial development both at a territory and city level, since it welcomes in higher acquiring bunches. Generally, if the greater part of a city's regular workers does not discover appropriate homes addressing both their needs and spending plans, one might say that there is a lack of moderate homes.

Here’s Why You Should Buy An Under-Construction Property.

While buying a property, there are several questions that crosses every home buyer’s mind. And at which construction stage to buying Property for sale in Bangalore is just one of them. Before we begin, let us tell you that there are three major stages at which you can buy a property. 

These include pre-launch, under-construction and ready-to-move-in. While, today, majority of the buyers prefer ready-to-move-in properties, there are still a few who invests at under-construction stage to gain monetary benefits.

Thus, here are a few more reasons that are most likely to motivate you to buy a property at this stage.

● Monetary Benefits: 

Under-construction property, in most of the cases, is relatively affordable when compared to ready-to-move-in property. While buying, you will have to pay the booking amount that is generally 20 per cent of the total property cost and rest can be paid in installments.

● More Options to Select From: In addition to the cost benefit, under-construction properties also lets you select the floor and unit of your choice.

● A good bet for Investors: Since prices are relatively less, one can fetch decent returns on investment.

● Scope for Customization: At this stage, there are a few developers who allow customisation (to some extent) as per buyer’s requirements.

● Flexibility in Payment: In under-construction stage, usually a buyer gets a plethora of payment plan options. The popular ones include construction-linked plan, down payment plan, 30:70 scheme, 20:80 scheme, to name a few.

While there are several pros of buying an under-construction property, it is advisable to look at the cons as well.

● Delayed Possession: The problem of delayed possession has marred the real estate sector adversely. Hence, this is the biggest risk while investing at under-construction stage. And it can be really troublesome if you have opted for the home loan route as you will end up paying rent as well as EMIs, which can impact your financial situation. Moreover, in case of delayed possession, you should also be prepared for paying the EMIs without tax redemption.

● Additional Taxes: 

Service tax and VAT are two taxes that you need to pay while buying an under-construction property. For properties valued below Rs 1 crore, the effective rate of service tax comes up to 3.50 per cent (14 per cent on 25 per cent of property value), while for properties valued above Rs 1 crore, it is 4.2 per cent (14 per cent on 30 per cent of property value). 

VAT, on the other hand, varies from city to city. For instance, VAT is charged at around 5.5 per cent in Bangalore. However, if you are looking to buy a flat in Noida, Chennai or Kolkata, there is no VAT applicable.

● Exit Clauses: Developers usually have certain clauses pertaining to the exit. For instance, there could be a clause of no exit for a certain period or even if it is there, you will have to pay the transfer charges that could be very high.

Q2 2016: Decoding Rental Scenario in Indian Cities

In the wake of current economic indicators poised towards fiscal rectitude, the Indian real estate sector is showing early signs of revival. This also comes in the backdrop of myriad initiatives announced by the government in the first half of the current fiscal. Be it the formation of RERA or relaxation in FDI norms or the recent Model Shop and Establishment Act, the sector is definitely envisaging better days in the near future.

Moreover, the announcement of the seventh pay commission is expected to further flush in more liquidity in the market by broadening the buying capacity of the government employees.

Now, coming to news and numbers, a closer look at the data clearly suggests that the number of new launches have taken a backseat this year. While developers are working towards completing their already launched projects, buyers are still in the wait-and-watch mode. Considering the fact that developers are focusing on completing their existing projects, decreasing number of new launches seems to be a positive sign.

In this backdrop, QuikrHomes deconstructed the rental demand and supply activity in the top 8 cities. Now, it is interesting to note that rental markets in all the tracked cities are heading north with ever increasing demand.

Let’s delve deeper.

NCR
• In Q2 2016, Greater Noida Sector-4 ranked first in both highest gross rental yield and the highest quarter on quarter rental yield growth with 23 per cent increase.
• All the top gross rental yield markets in this quarter are new entrants to the list.
• On an average, rental yield is in the range of 2.9-3.7 per cent.
• As per the demand, four out of the top five markets are from Delhi alone unlike last quarter wherein not a single locality from Delhi managed to find a place in this list.

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MMR
• With proximity to the financial capital, good connectivity, and robust infrastructure, Mumbai suburbs continue to show their dominance in the rental markets of MMR.
• Both, Mira Road and Malad West are the top markets based on gross rental yield, rental demand, and rental availability in Q2 2016.
• Mira Road clocked highest gross rental yield with 3.1 per cent. It must be noted that Mira Road is the new entrant to the list of the top market for rental yield.

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Pune
• Kothrud has emerged as the showstopper in all the top markets based on Rental Yield, Rental Availability, and Rental Demand. Moreover, it has seen maximum Rental Yield Growth in Q2 2016.
• Wakad, Hadapsar, and Kothrud continue to top the list of markets based on rental availability in Q2 2016. While Baner and Katraj are the new entries to the list.

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Bangalore

• It is Interesting to observe the growing rental yields in prominent markets of the city such as Banashankari, Jayanagar and JP Nagar with rising rental values. This can be mainly attributed to the increasing employment opportunities in these areas.

• The presence of IT/ITeS has made Electronic City and Whitefield prominent localities for rentals. However, it is remarkable to see how the old localities of Koramangala and Indiranagar have also retained their sheen with a healthy demand and supply ratio.
• Hosur Road, which maintained its top slot for the last two consecutive quarters, was replaced by Banashankari in Q2 2016 for maximum gross rental yield.

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Chennai

• Interestingly, in Q2 2016, all the top rental markets based on availability have seen an increase in gross rental yield in comparison that in Q1 2016.
• All top 5 markets based on gross rental yield are new entries to the list. The previous quarter top markets included Adyar, Mylapore, Anna Nagar, GST Road and Padur.

• Chromepet recorded maximum rental yield with 4.4 per cent. Strategically located in southern Chennai along the GST Road, Chromepet sees high demand from IT professionals (mainly working in the IT corridor of OMR) and the students studying in nearby colleges.

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Hyderabad
• While the western region of the city dominates growth and development pivoted along the IT industry, we can see an increase in rental activity and demand owing to the elevated Metro corridor connectivity.
• Interestingly, unlike other major metros, Hyderabad is undergoing a supply shift towards larger unit configurations in the newly developed residential markets near Cyberabad.
• There is very good rental demand for residential properties and supply is also at par with this demand in most of the major markets including Gachibowli and Madhapur amongst others.

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Ahmedabad
• Riding high on the back of infrastructure and connectivity, Satellite secured a top slot in both- top markets based on rental demand and rental availability.

• Interestingly, all top market with maximum rental demand are skewed towards Western part of the city due to the presence of IT companies in the vicinity and swift accessibility via Sarkhej-Gandhinagar Highway.

• Situated in North Ahmedabad, Chandkheda has emerged as the top market based on Gross Rental Yield with 3.8 per cent. Strategically located at the junction of Sardar Patel Ring Road and NH-41, the locality is well connected to all major locations of the city.

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Kolkata
• All the top markets based on rental availability and rental demand are well-established and most sought-after localities of Kolkata. Most of these localities boast of excellent social and physical infrastructure and offer excellent connectivity.

• Picnic Garden has been witnessing an increase in spillover rental demand from nearby premium localities of Ballygunge, Gariahat, and Tollygunge. This has made the area secure the first position in the list of top markets for gross rental yield.