Property possession being delayed in Bangalore? Here’s what you can do (Part 2)

Property possession being delayed in Bangalore? Here’s what you can do (Part 2)

In the beginning of this blog which is posted at (http://blog.therealestatecompany.in/property-possession-being-delayed-in-bangalore-heres-what-you-can-do-part-1/) I have discussed about few basic points which are extremely relevant to buyers who are passing through possession woes. The city of Bangalore is heaped with lots of properties which are highly in demand. Buyers are flocking from different parts of India to buy their dream houses and villas in the city. In this blog, I am discussing about the dark underbelly of the property market, which is prevalent in a bustling metropolis like Bangalore.

Prestige Group

Prestige Group

Let’s discuss some more remedies of the ailment called delayed possession which is haunting the present real estate scene of Bangalore:

Know the laws:

As a consumer you are always shielded by the law. So now your law and exercise it properly and at the right place. There are certain laws and provisions which are rolled out by the state government to safeguard the interest of the common like you and me. As, for example the State of Maharashtra empowers its Denizens with a particular law which enables you to get the entire refund of your money if the possession process if delayed by the builder. Look out for similar laws in Bangalore, and if it is there, then you can easily get your hard earned money back from the swindler.
Apart from this any property related transactions come under the Domestic Building Contract Act 1995. Which again entitles you to question the delay.

Get compensated:

Apart from the refund, you can also ask for the rent of the house in which you are staying during the transition. You can also ask for the interest on the payment you made to the flat owner or the house owner in which you were compelled to stay due to the delay in the possession.

Fallout of the delay:

The builder is not only bound to heal all your financial wounds. But at the same time the realtor by the virtue of the law will compensate you for the entire fallout of the delay. A delay can leave a scar on the education of your children, on your marriage and also on your professional life. A delay in possession of your flat or villa can turn your entire world upside down.
So collect concrete evidences in your hand and slap a fine on the builder and ask for a hefty fine.

Keep him in the loop:

Always keep the builder in the loop. Whatever actions you pile out against the builder notify him or her about the same through written correspondence. Slap a legal notice, on him and ask him to justify the delay. If after the notice the builder comes up with a proper response and gives you an amicable solution, then you are the winner, and if he acts defiant then drag him to the court without any further delay.

The property market in Bangalore is definitely one of the most promising markets in India, but you must remember that there is always a lurking danger which you have to intercept and understand and duck with proper knowledge and with a legal cushion.

Property possession being delayed in Bangalore? Here’s what you can do (Part 1)

Property possession being delayed in Bangalore? Here’s what you can do (Part 1)

Buying a property in a thriving market like Bangalore is like walking on a tight rope. As I always believe that buying a property is never complete until and unless you get a proper possession of the same. I know that it is quite an uphill task to acquire a good property in a city like Bangalore, which is now one of the hottest property markets of India. The situation can change anytime, tables can turn, so as a consumer you have been cautious and should always stay within your limits and know the remedies of the problems which you might have to combat while buying property. Most of the time buyers are subjected to long hauls before the owners’ actually get a chance to stay in their dream flats or villas. The delays are frustrating and irrational.

I think, this is one of the most prominent problems which are presently plaguing the real estate industry. It sours the relationship between the builder and the consumer and creates a deep uncertainty in the psyche of the buyer. Here I would like to point out a few steps which can fish you out of this problem.

Why the delay:

Most of the realtors of Bangalore will try to keep their cards safe. Which means that in the agreement the builder will keep 6 months grace period at hand. Which later gives them an upper hand if you complain about the delay of the possession of the property. This is the rule of the law and you have to bow to the law if you want to possess a property in Bangalore.

Prestige Group

Prestige Group

If the delay extends beyond the grace period then you must immediately talk to your builder and must understand the true reason. In most of the cases delays are caused due to the financial crisis, labor problems or due to administrative or governmental delays.

Rescue the money:

If you feel that the delay can last long and the realtor cannot table a valid reason of the delay in front of you then you can easily ask for a refund. As a buyer, you have all the rights to ask for your money. The builder is bound to pay you back if he or she cannot assure you about the possession date.

Consumer is King:

Always remember that you are buying your personal property and so you have all the power to take any step to protect the same. If the entire process of possession is stalled without any reason and you think the builder is hoodwinking you then you must immediately knock the Consumer Dispute Redressal commission based in Bangalore. Lodge a proper complaint in the state consumer dispute Redressal forum and you can easily put the realtor in the dock if he is guilty. But must remember that the property value has to be more than 20 lakh and if it is below that then you must lodge the case at the district consumer protection guild.

Continued at (http://blog.therealestatecompany.in/property-possession-being-delayed-in-bangalore-heres-what-you-can-do-part-2/)

What does a real estate broker do to help you in buying properties in Bangalore?

What does a real estate broker do to help you in buying properties in Bangalore?

The real estate market in Bangalore is on a growing manifold with every passing day. Today the city is the hub of some of the most renowned and best known real estate developers of the globe. The cosmopolitan population and the boom in the IT sector has provided enough room to the entire real estate segment and helped it in touching new heights. I always believe that real estate sector is one of the fastest growing sectors in India and it will definitely be a decisive component in the growth of the nation. Today investing in real estate is not as dicey as you think, if you do it under the guidance of an insider who is a pro and knows the tricks of the trade.

While doing any transaction or deal which is related to real estate market it is always feasible to look for the best man and they are the real estate agents. A simple tip during a crucial deal can help you gain a mammoth amount in the future. So let’s find out why it is better to keep a real estate agent by your side when you are signing a crucial property pact.

A friend in need:

When you hire a real estate agent, he will always shadow you, he will be your friend, philosopher and guide who will help you to understand the true value and the outcome of the entire deal. There are several websites which are available today which provides vivid information about properties, but I still rely on my agent, because they are anytime better than an online property platform as they know the industry and you can easily fetch the most updated information from them which will further help you to gauge the viability of the deal. Another added advantage of hiring an agent is that they are ace negotiators and I believe a good negotiator can help you to clinch a great deal the end of the day.

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Great brand managers:

By hiring a property agent, I believe you are also teaming up with a great brand manager who will not only publicize the property in the market he will also help you to woo potential buyers. A good agent will also help you in marketing the property properly and will strategies and will search for potential pockets to fetch the best price for the property. They have great market knowledge and a knowledgeable agent will help you to ferry your property at the right moment by analyzing the trend of the market.

Bigger impact:

If you are hiring an able and skilled agent then you are hiring an entire team of people who are skilful and will help you to get a larger picture of the property market. If you are selling your property then these people will hunt for a good buyer through their large and strong network and if you are buying a property, then these people will again help you to get an insight on the property. They are market savvy and they provide great help to an outsider like you.

Share your load:

After purchasing a property or before selling your own ancestral home you have to pass through a slew of background checks and also you have to fill up a heap of official forms. A good agent can hand hold you and can share your load. He and his team can easily complete the paper works for you, do the necessary background checks before you ink the deal.

Want The Best Investment In Life? Know All About It Here

Want The Best Investment In Life? Know All About It Here

Cautious investors often stay away from real estate as they consider it as a risky mode of investment. But industry insiders believe that this one of the most profitable and safe mode of investment if you are following the rules of the business and if you have done your full proof research on it. By investing in real estate you can easily open a window of income which might soar with the rise of the land price.

It can be counted as a future asset, if the investment is done under proper guidance. You may pave the path of your future with this kind of robust investment and must have a robust plan under sleeves before shelling out your money on property. I believe that industry insiders are still skeptical about pumping in money into the real estate market. But I believe the real scene is not so bad and it is always better for you to take less risk and invest in the real estate arena and enjoy early profits. The real estate possesses several inbuilt qualities which can give good returns for your hard earned money.

Go for flipping:

Flipping is an extremely good and I believe it can easily squeeze a massive profit for the investor. For example, you can buy an old property or a property which is at the threshold of foreclosure and by revamping that property you can easily resell the same and can get a good profit from the market. You can easily buy the property at a much lower cost and can get a handful money from the market after doing a few repair jobs. But I suggest that the buyer must be aware about the property rates and must take watchful steps before spending money on it.

Look for additional income:

I believe that by investing in real estate you can really look for additional income. If you rent a property and then you again put it on rent, which will surely help you earn something extra. Additional incomes are always good as it helps you secure your future and with that fund you can easily indulge in some luxury.

Build an asset:

By infusing funds in real estate you can not only cement your own future, but you can easily build an asset for your scion. It is a long term income source and you reap the benefits from it for decades.

Repay your loans:

Take a loan and buy a property and put it on rent and your tenant pays your loan. This can only happen in the real estate industry if you invest here in a proper way with proper plans. Being an owner, you will be the ultimate gainer, because the property value will soar with them and you do not even bear the load of the loan as it is repaid by the tenant.

Await for Inflation:

Embrace yourself for the next inflation, as the prices of all goods will soar during inflation, which will also affect the rent, but being the owner of a mortgage, property you do not have to shell out an extra penny from your pocket as the interest rates of mortgage do not fluctuate during inflation.

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But again a word of caution, that be a wise investor and understand the game and invest wisely. Hunt for great deals and learn to observe the market, though a hawk eye and derive the benefits.

Why is Bangalore a most opted city for Residential Villas?

Why is Bangalore a most opted city for Residential Villas?

Like any other metropolis of India, the population of the city of the Bangalore is swelling. Because of is cosmopolitan attire the city today is the home of millions of migrant workers who are pouring in from different parts of the country every day. The thriving real estate industry of the city is under duress to meet the rising demands of the real estate properties. The city today is counted amongst the top 5 most coveted real estate destinations. City’s demography, booming job market and sun-drenched weather are a few of the reasons which are wooing several property buyers in the city.

Industry pundits noted a spike in the demand of the residential villas in the recent past. Buyers from across the globe are queuing in to buy residential villas in the tech city of India, Bangalore.

Here is a list of reasons which are actually fueling the sale of Villas in Bangalore:

The search for peace ends here:

The city is a perfect habitat for peace loving people. The villa properties are located away from the din and bustle of the city life and most of them are located within the lap of the nature surrounded by lush green gardens. A man made natural canopy is created, which covers the entire property and gives it a completely different tone. These kind of options is spread across the city. The buyer has to choose the property of his or her choice before building a wonderful villa on it.

Safety First:

Most of the Villa properties are well guarded and surrounded by barricades. The properties are well planned and well sketched so that the owner can enjoy his or her privacy and can stay safe with the family.

Gamut of facilities:

Villa properties within the city are extremely well made and they are geared with some of the most high-tech and edgy facilities. Even by staying away from the hustle and bustle of the city the owner of the villa can easily indulge in all kinds of modern luxuries. The properties are equipped with all modern facilities which a person might need in their daily life. After a busy day he or she can enjoy the evening with the family by clubbing or can shed the stress after a swim at the pool. The villas are surrounded by green lawns which gives enough space to the children to play. The villa compounds do have modern gyms where one can easily burn some extra calories.

Future treasure:

There is a massive demand of the villa properties in Bangalore and they are soaring every day. The balance between the supply and demand is dipping every moment as the villa properties are in high demand. So if possible buy the property now and treasure it for the future. As it is a lucrative investment for the future and the fruit it will bear in the near future will be sweet, that is for sure.

Stay Private:

All these projects are well crafted and they built by completely respecting the privacy of the buyers. The properties are well fenced and gives leash of privacy in the hands of the buyers. One can stay with the neighbor by keeping the privacy intact. Special attention given to children’s safety and they can play within a secured compound under complete CCTV surveillance.

Go Green:

Stay close to the green and keep pollution at bay. These villa properties are built on natural platforms by using all possible environment friendly methods. Use of non chemical materials for building these villas to use of solar power and rain water harvesting are some of the most important aspects of these projects.

Villas

Be careful before investing. Be sure about the property and if possible take an expert’s opinion. It is always better to invest cautiously by measuring the long term returns.

Image Credits: India Homes

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