Is buying an apartment a good investment in Bangalore?

 

Photo by Yash Parashar on Unsplash

Bengaluru real estate: The ideal buyer’s market

Famously known as the ‘Silicon Valley of India’, Bengaluru (Bangalore) is not just a tech hub, but also a thriving metropolis that blends innovation with tradition.

Over the years, the city has grown exponentially, attracting professionals, entrepreneurs, and investors across India. This rapid development, coupled with its robust infrastructure and vibrant lifestyle, has made it one of the most sought-after destinations for real estate investment in the country.

Here are a few reasons why you too should consider buying a home in the city:

Advantageous location:

Strategically located in the heart of South India, Bengaluru enjoys connectivity with major Indian cities and acts as a gateway to prominent southern cities like Chennai, Hyderabad, Kochi, etc.

via road, rail, and air networks. The city’s relatively high altitude ensures pleasant weather conditions throughout the year.

Its proximity to key industrial corridors and its role as a significant IT and startup hub further enhance its appeal in the real estate market.

High rental yields:

Bengaluru’s industrial and IT sectors attract scores of professionals and students, driving constant demand for rental properties.

The presence of reputed tech giants and the booming startup ecosystem in the city ensures a steady influx of high-paying tenants.

Bengaluru offers some of the highest rental yields in the country, driven by the property’s proximity to major tech parks and robust social infrastructure.

This makes the city a highly lucrative market for homeowners seeking to maximise their returns.

Expanding infrastructure:

Bengaluru’s rapidly expanding infrastructure is another key factor driving its real estate market.

Significant infrastructural mega-projects, such as the expansion of Namma Metro, Peripheral Ring Road project, elevated corridors, and Satellite Town Ring Road project have been proposed to optimise inter and intracity travel.

This, along with smart city initiatives and prominent public and social amenities ensure a vibrant and well-balanced lifestyle for the residents, while also adding value to the city’s real estate.

Favourable market conditions:

The city’s real estate market is poised to be a profitable venture, supported by strong demand, steady price appreciation rates, and favourable economic conditions.

Bengaluru offers a range of investment options, from affordable housing to luxurious residences suitable for various budgets and needs.

Government initiatives like reduced stamp duties relaxed FDI norms, and infrastructural proposals add value to the market. All these factors combine to form an ideal environment for real estate investment with attractive returns.

So, tap into Bengaluru’s real estate potential with Parkwest 2.0 by Shapoorji Pallonji Real Estate (SPRE).

Located in Binnypet, this landmark development is spread over ∼46 acres with ∼75% open spaces and world-class amenities, offering luxurious 2 and 3 BHK residences in the heart of Bengaluru.

With excellent connectivity and urban conveniences in the lap of nature, enjoy the best of both worlds with SPRE. Experience an elevated lifestyle with their newly launched Tower Sequoia, at Parkwest 2.0.

To know more about their 2 and 3 BHK residences, click here — https://shapoorjirealestate.com/residential/parkwest-20/

Is 2024 the Right Time to Buy a Flat in Bangalore?

 

Ride the real estate wave in Bangalore

Here’s why Bangalore should be on your radar for home buying in 2024

With rising costs, standard of living and a global economic slowdown affecting the world one might expect to see a downward trend in home purchases. However, the city of Bangalore seems to be defying all the odds as it has experienced an upward surge in flat purchases over the past 2 years.

The primary reason Bangalore has made a steady comeback in the real estate market is its USP of being a hub for job opportunities around IT parks and office hubs. The booming job market provides a lucrative offering to plenty of people looking for their dream roles. While a small segment of these workers are native to the city, most shift from within the country to help shape their careers.

What are the popular trends observed in 2024?

1. Government subsidies:

With the Karnataka government providing subsidies under the Bengaluru Housing Plan, many lower and middle-income group individuals are availing these benefits to relocate to more affordable locations in Bangalore. New home construction subsidies are a lucrative offer for individuals willing to invest their funds in these schemes.

According to the NoBroker annual survey, 86% of landlords are considering purchasing a second property to capitalise on this lucrative market. Saurabh Garg,

2. Developed infrastructure facilities:

Being an urban hub city, Bangalore prides itself upon its infrastructurally developed set-up. Developed and well-connected metro lines, well-maintained road networks, and the presence of world-class educational and healthcare facilities make Bengaluru an enticing location for apartment buyers.

As an investment option, Bengaluru has provided an attractive return of 8.98% on housing in 10 years. If seen from an investment perspective, Bangalore has provided home buyers with an exceptionally high ROI and trends in the past years showcase that the demand for flats in Bangalore will only increase further.

With an abundance of residential projects that offer lush green spaces and ample open spaces, the sold-out status of the Parkwest project by the Shapoorji Pallonji Real Estate group only further highlights the lucrative status of Bangalore.

On the heels of the Parkwest project, the group also launched Parkwest 2.0 in Binnypet, at the heart of Bengaluru. Their 3 & 4 BHK flats in Binnypete start at extremely affordable prices of ₹2.6 crore and ₹3.5 crore respectively making them highly coveted locations for purchase.

View their project details on their website here — https://shapoorjirealestate.com/residential/parkwest-20/

Originally Published at - https://industryupdates.medium.com/is-2024-the-right-time-to-buy-a-flat-in-bangalore-b5e973a72dce

Stamp Duty and Registration Charges in Bangalore 2024

 

Stamp duties and registration fees are taxes imposed by the government in the event of a purchase of a property and even on the transfer of ownership of a property. These taxes ensure that the transaction is legally valid and recognised as ‘Proof of Right’ by the law. While stamp duty is influenced by the market value of the property, registration fees are the charges that go into registering every property document by the local Sub-registrar to confirm the location and address of said property. Because of this, the applicable taxes vary from state to state.

In Bengaluru, the stamp duty typically ranges between 3–5% depending on the location and value of the property while the registration charges come around 1–2%. As a part of the property registration charges, an additional cess and surcharges are also applicable. For urban areas in Bengaluru, a cess of 10% and a surcharge of 2% are levied on properties above Rs.35 lakh.

Stamp Duty rates in Bengaluru:

• Properties above Rs.45 lakh — 5%
• Properties between Rs.21–45 lakh — 3%
• Properties less than Rs.20 lakh — 2%

In Bengaluru, the applicable fees are the same for both genders. The registration charge is 1% of the property value.

Stamp Duty and Registration Charges in Bengaluru for 2024

While the above rates represent the current trends, the government of Karnataka, as recently as December 11, 2023, passed a bill that raises stamp duties on many property transfer instruments.

In urban areas, the stamp duty for property partitions converted for non-agricultural purposes will rise from Rs.1,000 per share to Rs.5,000 per share.

In gram panchayats, the stamp duty for such property partitions will increase from Rs.500 per share to Rs.3,000 per share. Additionally, the stamp duty for agricultural property partitions in gram panchayats will escalate from Rs.250 per share to Rs.1,000 per share.

To know the stamp duty charges of the property you are interested in, simply log on to Kaveri Online Services and fill in the details of your property to know the amount you’ll have to pay.

Besides the specific state-wise allotment of the taxes you have to pay when purchasing a property, several general factors influence the percentage of the charges. They include:

Property type: The tax applicable to commercial properties exceeds that of residential homes as commercial properties include several additional features and amenities compared to a residential property.

Location: The property’s geographical location significantly influences the tax charges, with rural and semi-urban areas generally incurring lower stamp duty and registration charges in Pune.

Market value: The calculation of current stamp duty and registration charges takes into account both the total area and the market value of the property.

Owner’s age & gender: The government extends additional concessions based on the age and gender of the property owner. Senior citizens and women may qualify for subsidized stamp duty and registration charges as part of these concessions.

First-time home buyers: Individuals buying a home for the first time are eligible for a maximum of Rs.2.5 lakh exemption on their stamp duty.

Ready reckoner rate: Also called a circular rate, the ready reckoner rate also influences the stamp duty calculation. These rates depend on the area and restrict the sale of a property below a specific amount.

Buying a home is one of the most important decisions a person will make in their lifetime. It is a measure of steadfast commitment and hard work. To make this endeavour successful, it is not only important to consider the property price by itself but also the various associated taxes that get invoked so that he or she is aware of it to make this process a smooth experience.

Explore Shapoorji Pallonji Real Estates Residential Projects in Bangalore -

• Book 2.5 and 3 BHK Flats in Binnypet — https://shapoorjirealestate.com/residential/parkwest-20/

Originally published at http://realestateandepc.wordpress.com on December 20, 2023.

Why You Should Invest in Binnypet, Bangalore

 

Real estate is a popular investment option for many due to its potential for long-term returns and wealth creation. However, location is one of the most critical factors when investing in real estate. The location of a property can significantly impact its value, rental income potential, and overall return on investment.

Investing in a property in a desirable location with good infrastructure, amenities, and access to transportation can increase its value over time and attract high-quality tenants. On the other hand, a property in a less desirable area with limited infrastructure, high crime rates, or poor access to transportation can decrease in value and have difficulty attracting tenants or buyers.

A location that has put itself on the real estate hotspot map is Binnypet in Bangalore. Once known as a satellite town, Binnypet has seen enormous development in recent years. According to the 2020 Ease of Living Index, Bangalore ranked as the most liveable city in the country. The Binnypet region has been no exception to this transformation in Bangalore.

A Famed Past

When we speak of Binnypet, we cannot ignore the history of this place. Bangalore Steam Woollen Mills, also known as Binny Mills, was a crucial contributor to the garment industry in Karnataka. The Binnypet area was known for the Binnyston Garden, a green haven with vast lakes. Due to the embrace of modernisation, Binny Mills was closed down in 2005. After this, Binnypet remained a hidden area in the rapidly developing Bangalore city.

A Rejuvenated Renovation

In recent years, Bangalore gained fame as the ‘Silicon City’ of India. It resulted in a mass migration of individuals from all over the country into the city. The once-forgotten area of Binnypet was one of the many regions that benefited from this influx. The location of Binnypet caught the attention of real estate developers, and big names in the market undertook premium projects in the Binnypet area.

A Promising Future

As Binnypet started flourishing due to the rapid development of Bangalore, real estate developers began to understand the importance of Binnypet. Binnypet is a well-connected area with convenient access to the commercial and residential hubs of the city. The Binnypet area today has excellent connectivity with easy reach to different regions in Bangalore by the Namma Metro, Magadi Road, MG Road, and the KSR Railway Terminus, also known as the Bangalore City Railway Station. At Binnypet, two metro lines intersect-Mysuru Road to Kengeri and Byapanahalli to Whitefield. The distance to the Kempegowda International Airport is 37 km.

Top Reasons to Consider Investing in Binnypet in 2023

Source: Magic Bricks

Shapoorji Pallonji Parkwest Residences in Binnypet

Shapoorji Pallonji, one of the most trusted Indian brands offers two stunning residential projects in the thriving region of Binnypet in Bangalore — Parkwest and Parkwest 2.0. These residential projects have a host of top-quality amenities and are located in prime zones of Binnypet with easy access to other parts of the city.

To learn more, visit — https://shapoorjirealestate.com/residential/parkwest-20/

Originally published at http://realestateandepc.wordpress.com on April 21, 2023.

Top 6 Places to Invest in Bengaluru

 

Home to a constantly increasing migrant population, Bengaluru is a hub for great employment opportunities with good living standards and a modern lifestyle. Some may call it the perfect combination.

It is even well-connected and hosts good weather throughout the year. With all this, a question for people who want to settle in Bengaluru naturally arises – where should we buy a house in Bengaluru? And we have you covered!

In this article, we take a look at the best places to invest in Bengaluru. Are you ready to explore your options?

1. Hebbal

Image Source – Wikipedia

Located near Hebbal lake and Nagavara lake, Hebbal is considered one of the prime locations in North Bengaluru. It is surrounded by impressive infrastructure and several work opportunities with the presence of Manyata Tech Park. It is also home to good schools, colleges, and shopping malls, thereby making it an attractive area to invest in for home buyers. What’s more? It lies in close proximity to the airport.

2. Yelahanka

Image Source – MagicBricks.com

Known for its manufacturing industries, Yelahanka is a great place to invest in commercial properties, especially with its growing IT industry that attracts a lot of professionals in the area. It also has a lot of educational institutions and healthcare facilities that make it an ideal place to invest in. 

3. Electronic City

Image Souce – Wikipedia

One of the best choices for both commercial and residential investment, Electronic city is a zone that holds the country’s top corporates and IT Parks including Wipro, HP, BHEL, Infosys, and more. You can buy a residential property in Electronic city, starting 15-25 lakh.  

4. Binnypet

Image Source – etamall.in

Binnypet is located in the heart of Bengaluru, surrounded by commercial areas like Chickpet, Chamrajpet, and Okalipuram, making it one of the most desired localities to live in. It also houses quality education and healthcare facilities including St. Lords international School, Royale Concorde International School, Victoria Hospital, Apollo Hospital, and more. If you are looking to invest in a luxury 2 or 3BHK in Binnypet, then look no further than Parkwest 2.0 by Shapoorji Pallonji Group, starting at Rs.1.25 Cr.* and Rs.1.85 Cr.* respectively. It is the perfect blend of brilliant design, functionality, and a plethora of amenities and green spaces. 

5. Sarjapur Road

Image Source – PropTiger.com

Surrounded by prime locations like Koramangala, Whitefield, Electronic city, and more, Sarjapur road is the new hotspot for realty investments. Due to the rising number of people moving in this area, it has a lot of new real estate projects coming up, and rightly so as it has a variety of educational and healthcare institutions within the vicinity.

6. Whitefield

Image Source – Wikipedia

Located in East Bengaluru, Whitefield provides you with a host of high-end living options. It is surrounded by well-established corporations and is very well-connected via purple metro rails, train services, and bridges. What makes it even better is that it also has a lot of options for recreation such as the Phoenix Market City, VR Bengaluru, Inorbit Mall, and more.

Originally published at http://realestateandepc.wordpress.com on November 22, 2021.