The society has been ever evolving. Families used to live in joint family in an ancestral home. People never thought of buying new place to live. Everyone accommodated in the house, with little modifications every now and then. Slowly people started moving out of the family in search of jobs. They started their lives in a new city with job. The salary was compensated in rent, food and saved for a rainy day.
Slowly the job market changed, and people became more secure with their salaries. They saw their future in the city. This led to planning to settle in the city permanently. A good future and permanency in the city are the main reason when you think of buying a house. Buying your own place to live is everyone’s dream.
Bangalore is the city of villas. You may not get a choice to buy villas in other cities. Bangalore offers ample choices for villas. Independent villas, villas in gated community and villas in integrated township. You can choose from a wide variety depending upon your budget. Villas are often associated with being pricey, but when you see the total gains you may not feel it to be pricey.
Let us discuss the main features of villa-
A villa is a sole structure built on an independent plot. So, if you buy a villa you own the plot as well. The constructed villa comes with a 2-floor plan, a garage, backyard kitchen garden and other amenities.
Points to be kept in mind before Buying a new villa
If you have a permanent job, then it’s easy to decide the location- next to your place of work. If your job is not permanent, you can choose locality that is upmarket and suitable to your lifestyle. A lot many things goes in choosing the locality. The richer the locality the higher the price of the villa.
You must identify your priorities and make a list of things before going for visit. Must check
Buying a villa is obviously big on your budget. It may stagger you or absorb all your savings. So, you need to do a detailed planning. You need to make a list of money resources at your disposal- saved money, the running income and your monthly expenditure now and the expected increase in expenditure while staying in the new villa. We all know that when you shift to new place, there is some lifestyle change and extra pressure on your pocket.
You may decide on taking loans, but still you would need to pay 20% of the total cost by yourself. The process of loan and EMI and the clauses must be checked and understood properly. You can also take the help of an expert
You will also be able to enjoy tax benefits under house loans.
There are many real estate builders in Bangalore, who present very lucrative offers. You must do a thorough research of builders and then select. You can easily research from articles and advertisement in Newspaper. Can visit their website and take reviews. Can do site visit and talk to the occupants.
Whether it’s ready-to move or near completion or under construction. What will be time period for completion. You may book under-construction villas if you are in no hurry to shift. Nevertheless, you must check their reputation for timely competition.
As soon as you have done a complete check you can zero on the villa and move ahead to further process.
You must take help of a legal person to check and fill the legal papers and details. He/she may be able to explain the in-between hidden meanings that are beyond a layman. You must check the RERA approval of the project that you have shortlisted and other details.
You must check the papers twice before signing.