Month: June 2017

Top 10 Reasons To Buy Apartments in South Bangalore

Top 10 Reasons To Buy Apartments in South Bangalore

As a residential locality, Sarjapur is on the cusp of change. You can also be a part of this beautiful phase by investing in a flat if your work address is around this locality.

south bangalore

Buying a house has an emotional connect to employees working in and around Sarjapur Road. Acquiring the right property is based primarily on finances and desire to have a better living index. It seeks secure living neighborhoods, safety, and accessibility to many other things of interest not just the workplace.

Sarjapur road was a small area in Southeast Bangalore, with low real estate rates a few decades ago. But with the advent of IT companies and assorted traditional business around its vicinity it has flourished and become an established home base, for the working class. Due to this, there has been an increasing demand for fats in Sarjapur Road. It has become the main reason for local developers to buy land parcels to make residential enclaves that cater to many segments of the working class.

Job opportunities to utilities and safety- investment spectrum is huge

Sarjapur brings a wholesome quality for any investor today. Check out this two tier bullet list before we go any further to convince you to buy a flat for sale in Sarjapur Road-Property appreciation and location highlights.

Property appreciation

1). Buyers have multiple options of 2BHKs to 3BHKs and luxury homes. This in itself is a strong driver for many people paying token advance to book the flat of their choice.

2). As and when urban dwelling started conforming to latest international lifestyle, apartments for sale in Sarjapur Road have increased.

3). Builders can no longer delay the possession. For example, if the website of the builder says, the possesion is by April 2019 then the target will be met.

4). Advance bookings allow buyers to arrange for home loans with the right banks. Several prominent projects are linked to lenders.

5). The burden of due diligence falls on the lenders and buyers can be at ease.

Location Highlights

6). If your work is related to IT sector this area is barely 45 minutes drive from big employment firms like Accenture, Capgemini, Cisco, HP, and Wipro. There are job opportunities related to other traditional businesses in malls, entertainment zones and eateries. Even MNCs like Paypal, ARM, KPMG, Nokia have regional offices at a close distance from the residential areas.

7). It makes sense to live close by so you arrive fresh at work. Thus, apartments for sale in Sarjapur Road have the benefit of being a boon to the working crowd. Even if you do not work in the IT sector but in the Malls or have a local business, close proximity to workplace is essential. With more productivity during working hours, mind is at ease.

8) Commuting time has eaten up prodcutive hours of work in many businesses. As traffic rises in the city, everyone is lookig for ways to spend less time on the road and more at work. Imagine the delight of the person, if a pizza delivery boy is able to ring the door bell of a home/office in time. Sarjapur is no longer a quaint village, but an urban legend that is morphing into a well-developed city borough.

9). Roads link important areas like Koramagala, Silk board, and Whitefield, Electronic City, and Outer Ring Road. This makes traveling even during work hours easy. During peak evening traffic hours one can avoid the nightmare of being stuck. Bangalore is now the 3rd most populated city in our country and continues to attract many immigrants to work as job prospects have grown tremendously.

10) Education for kids -Parents can choose from schools like The International School Bangalore (TISB), Chrysalis High, Inventure Academy, Orchid International, Greenwood High, Silver Oaks, Primus Public School, Harvest International School, Gear Innovative International School, Delhi Public School, Head Start Educational Academy. The most popular and in demand schools have established themselves in Sarjapur Road.

On the outskirts but yet accessible
Well connected to transport hubs.

Although Sarjpaur is away from the main town major rail and airport destinations are accessible. It is 15kms away from the Bangalore city railway station and 45kms away from the Bangalore international airport. The Peripheral Ring Road connects the key roads of Bellary Road, Old Madras Road, Hosur Road and Sarjapur Road with Tumkur Road along with connectivity through the NICE Corridor.

Shopping and entertainment conveniences

A slew of entertainment hubs make Sarjapur a much sought after investment destination.

Life for the residents here is convenient because of the various shopping malls like total Mall, Forum Value Mall, Phoenix Market City, Park Square Mall, Inorbit Mall and Lido Mall, movie theater for the Bollywood lovers, gaming parlors, hospitals, grocery stores etc. A well-developed infrastructure is the top reason to invest in a home on Sarjapur Road.

Attend RERA workshops by CREDAI to invest efficiently in a home in Bangalore.

Attend RERA workshops by CREDAI to invest efficiently in a home in Bangalore.

The foremost real estate authority in Bangalore has taken the cudgels on behalf of the investors to explain the new RERA rules that have come into effect from May 2017. Every new homebuyer needs to be aware of this new development.

Importance of Investors education

Rogue builders have already made genuine investors suffer. In an attempt to checkmate them, it makes sense for buyers to awaken and be informed.

Consumer rights need to be respected. One of the reasons why there is less trust in the realty sector is the regular cases of cheating indulged by builders. When even some of the known builders started to do the same, it was time to reign in the evil.

RERA has come at a good time to help consumers who are looking for a roof above their heads. Today, with the correct knowledge, a builder cannot promise something that is not even available in the project.

One can now safely buy a 2bhk flat for sale in Sarjapur Road in a project that conforms to the RERA rules. Along with latest rules, it has become important for investors to be educated before they book any flat across the city of Bangalore.

Attend the CREDAI workshop

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If you wish to have a hassle free home without any delays or legal wrangles, please attend the workshop.

Citizen right groups in Bangalore already took the initiative in 2016 with regular workshops. As builders, big and small, realize that the odds are stacked against them, they too need to be familiar with the RERA rules.

The largest realty sector authority CREDAI has stepped in to educate investors and also builders. They also recognize the need to bring credibility to the realty sector. Currently, there are many apartments for sale in Sarjapur Road, Bangalore that can be booked at attractive rates. Builders are offering homes with merely 10 % initial amount and rest on possession.

  • If a workshop is announced in your area, it will constitute the following highlights:
  • It will appraise you about the consumer rights against fraudulent developers.
  • How can you handle delayed project compensation in the right manner?
  • Is there a way to tackle unfulfilled promises given by builders?
  • As part of the study you will need to understand the salient features of the RERA rules made public (initially in the year 2016).

Important points of the RERA Act 2016

rera act india

Karnataka has been one of the states to be pro-active to protect citizens from errant builders. The workshops are in the right direction.

  • RERA rules apply to all housing schemes that are in progress and not yet given to the buyer.
  • All builders/promoters need to mention the schemes floated in the last 5 years.
  • 70% of the money for a particular project needs to be put in an exclusive bank account. It is a mandatory requirement.
  • A builder not registering the project will attract penalty of 10% of the project cost.
  • If registration is not done then there is a jail term of 3 years with 10% fine.
  • False promises will make the builders pay 5% of the cost of project.
  • If orders of Appellate Tribunal are not met there is a 3 year jail term and 10% fine related to the project.
  • If the builder is unable to meet the RERA rules and also that of the Appellate Tribunal then 5% and
  • 10% fine will be levied on a flat or a vacant plot or a building.

Advantage for home buyers in Sarjapur Road and rest of Bangalore

It is now a huge relief for people to buy luxury apartments in Sarjapur Road, Bangalore. Yet a few more safety features are advisable to keep a track till the acquisition of the property.

The CREDAI workshop is a step in the right direction for building the trust between the developers and homebuyers. Now buyers are assured of the following:

  • Timelines of giving possession is vital.
  • Around 70% of the sales billing will be attached to one account and cannot be used elsewhere by
  • the builders.
  • MoUs that are signed will take care of both parties-builder and buyer.
  • If a dispute arises, the buyer gets a chance to lodge a complaint and get the issue resolved quickly.
    Brokers will also come under the RERA jurisdiction.
  • For 5 years the homes will have a warranty period. If anything happens during the period, the builder will repair at their cost

In Sarjapur apartments are in the price range of 80 lakhs and above making it one of the premium and fast selling areas of southeast Bangalore. It is time you attend one workshop to educate yourself before paying the initial booking amount. From the future investment perspective, South Bangalore is a growing hub and purchase of real estate here would be the safest bet.