A checklist to consider before investing in a property in Bangalore

One of the core reasons why many of the Indians think about leaving the country and work in an international location is to earn money and invest in properties. This part of the Indian population, also referred to as the Non-resident Indians (NRIs), choose to invest in properties and plan to either come back and stay in the same house or sell it over to invest in a bigger property. Right from selection to finalising the deal, the process can be difficult since they are not present here in person. Following is a list of points that should be taken into consideration while the selection of the property is being done.

One of the very first things that you, as an investor, should take into consideration is to conduct a thorough check about your real estate builder, understand and evaluate whether he and the organisation is a correct choice to go ahead with. As an international investor, it might be difficult for you to come and check the other projects, feedback received from the previous customers and track record he holds as a developer. It is always preferable to invest in a property that has been verified by the concerned government authorities. Ask the builder whether they have the approval from the concerned authorities for the investments to be made for the project. There might be situations where the project might be stalled for not having enough finances.

Second point on your checklist should be about the kind of property you want to invest in. Since, the investors or the potential buyers are settled abroad, the real estate property agents mostly show the luxurious apartments. Real estate developers have now started taking special note of building plush apartments that are more suited for the NRIs. These are spacious apartments with all kinds of modern amenities available and with other special facilities such as roof top garden, availability of parking for multiple cars, etc. However, it is always better to check the neighbourhood, locality and the valuation of the house if you consider to sell it later.

The third point on the list is making a considerable check on the locality of the property. If you are new in the city or dealing through agents, it is better to consult your family or friends regarding the deal. This will help you in understanding whether the locality where you like the property to be bought is good, is in close proximity with the school, workplace, hospitals, airport, etc., the social infrastructure is good and has good spots for recreation such as outdoor sports areas, social hangout places, etc. Many of the plots or the properties are marketed by the builders that are yet to develop properly and are considerably far from the main city. While the prices of the properties will be comparatively less, it will take time to develop.

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