We all make plans to invest in real estate market but deciding which market and which property is the appropriate one is a tough task. In the current scenario, one of the most promising markets is in Bangalore. Bangalore has been a major real estate attraction for new investors as well as for those who have been in this game for a long time.
The demand for residential and commercial properties has raised in the past owing to many IT firms opening their offices around Bangalore. Developers like Brigade group constantly face high demand for budget as well as luxury segment Brigade apartments. Even the budget has made the market for entry level buyers a bit more convenient than before by increasing the tax exemption by Rs. 50,000 for loans up to Rs 35 lakhs, for a property worth up to Rs 50 lakh.
The low cost housing segment has been one of the major contributors in real estate up rise in Bangalore. A buyer can easily find a 2, 3 and 4 bedroom apartment at an affordable price of Rs 52 lakh onwards in South Bangalore coupled with modern facilities and amenities like healthcare centre, kindergarten and huge open playgrounds for children.
These properties are also preferred because of their high resale value. The brigade meadows resale report shows that the low cost housing segment sees the highest number of resale thereby making it a preferred choice of investors who are looking for a quick flip and earn good profit.
The government is focusing on ensuring that people continue to invest in real estate market by making progressive changes in the policies like, zero service tax from builders on houses less than 60 sq. meters in non-metros and less than 30 sq. meters in metros. However, experts believe that there is a need to impose similar exemptions on house less than 80-90 sq. meters since it has the highest demand and also to reduce the housing loan interest on budget housing to make the properties more affordable to the masses. Other steps required may include quick and transparent clearance system for new projects, more land for entry level housing projects, and providing adequate infrastructure.
Real estate has always been viewed as one of the safest investment options and the new buyer mostly focuses on investing small in the beginning, thus the low cost housing segment appears most convenient and reliable to them. They can avail many housing schemes offered by the developers and can build their dream house one brick at a time. In cities like Bangalore, developers ensure that their buyer can also rejoice the benefit of modern luxury and comfort within their budget.
Most of the facilities that were once the crown jewel of luxury apartments are now at offer in budget apartments as well. Some of the facilities include Clubhouses, Neighborhood shopping complexes, Tennis court, Badminton court and Basketball court. This allows a buyer to look for more options to search a perfect house to settle down.