Property Documents Required for Buying a Land, a Bungalow or an Apartment.
Bangalore is the Silicon Valley of India, with home to the highest number of startups, Multi-National Companies and educational institutions. Bangalore is also a great place to settle down with families owing to its great weather and a metro population that is a mix all of Indian and International cultures. You will not get lost unlike other cities of India which are not so multi-cultural and multi-ethnic.
It is also the fastest growing metro city and the value of properties is growing exponentially. The city receives good rainfall and is fed by Cauvery water. Being the capital city of Karnataka, it receives good attention of the Government. It has good national and international connectivity by road, rail and air.
One of the biggest issues of Bangalore today is transportation and commuting. The city lacks the required road and train infrastructure which is much needed for mass transportation. Plans are currently in progress to have metro connectivity across entire Bangalore, which may take place in another few years. Its 6 lane connectivity through highways to Chennai, Mumbai and Hyderabad provides opportunities to expand along these highways. Several state highways between cities in Karnataka and other neighbouring states of Tamil Nadu, Kerala, Andhra Pradesh, Telengana, Goa and Maharashtra are being upgraded to 4 and 6 lanes. This will also aid further growth.
If you have a job in Bangalore or you wish to invest in Bangalore, you may think of your short term and long term goals on where you want to buy your property. Your short term goals could be to commute easily between your office and your residence, to local shopping malls and entertainment options, within the neighborhood or to schools and educational institutions if you have kids. Your long term goals could be appreciation, growth of the neighborhood and access to commuting options etc.
Bangalore has 5 central regions Central, East, West, North and South. Apart from this, there are several external regions which are growing fast like Electronic City, Whitefield, International Airport, Kengeri and etc. These regions are on the outskirts of the city and may take several hours to commute from within the city and some are well developed and self-contained. However, water, sanitation, asphalt roads and other civic facilities could be an issue. But they are far more airy when compared to the congested city.
East and South Bangalore are well developed with large multinationals corporations and tech parks employing thousands of people. The properties in these regions are comparatively expensive too. Bangalore North is an upcoming region, with the international airport at the outer rim. Hence, you can expect a greater growth in this region in the years to come. It has good road connectivity as well. There is no train connectivity except the Yelahanka Railway station, that serves trains going towards West and North. However, piped water is still an issue in this region.
West is a much cheaper region in terms of property rates and it is quite a congested region as well, thereby hampering future growth. But it is well connected by road, trains and metro. Check the connectivity with the rest of Bangalore if you are looking at buying properties in this region. South is well connected by roads, train and metro and is also very congested. Nice road also connects between east and west regions of Bangalore on the outer side of Bangalore. East is well connected by outer ring road, train and metro. Inner parts of east like Indiranagar and Koramangala, are well developed and boasts of high property prices.
Bangalore city has expanded beyond city limits and many surrounding villages and town are considered as Bangalore Rural district. These are connected by Roads and Road transport. There is a plan for a road linking all the major towns of Bangalore Rural districts through a peripheral ring road of 8 lanes. Once that happens Bangalore will certainly be similar to Delhi NCR region.
Metro phase I is almost complete and connects North and South corridors and East and West corridors through central region. Check the metro path as it provides an easy commute option.
Metro Phase II has just started and you can look at the path to invest in the path and surrounding areas. The properties along the path of metro phase II can provide good investment options in the long term.
You may look at your options to buy a piece of Plot/Land, Apartment or Bungalow depending on your need, budget, lifestyle and investment growth. Plots/Lands will certainly bring in higher returns. Next comes Bungalow in terms of returns and then comes Apartments. Certain areas tend to yield higher returns compared to other areas. You can check with local agencies like BBMP for guidance on the property value which increases over the years and also search for property price trends of different areas over the internet to get a good sense of investment.