Bangalore is an amazing city to live in. It is the fastest
growing Asian city and buying land in the Garden city will certainly generate lucrative
returns. Investors who bought land at low prices are now earning huge returns.
This trend will continue as obviously land costs are rising day by day.
You need to invest in
approved sites:
It is crucial to buy a site that is approved by government
bodies. BDA, BMRD, BBMP are some of the government bodies that are set up to be
systematic in town planning and to approve plots that can be used for
residential purpose. There are several illegal aspects and one should be
cautious and smart enough to avoid unnecessary hurdles. That is why investing
in approved sites for sale in Bangalore
is regarded as a safe bet. Government bodies are named as per the proximity of
the town being included in a city. They are:
- o Bangalore Development Authority (BDA) - Plots within the city
- o Bangalore Metropolitan Region Development Authority (BMRDA) - plots outside the city
- o BBMP (Bruhat Bangalore Mahanagara Palike) - collects taxes and maintain the layouts
If you plan to invest in a plot, choose a plot that is
approved by the BDA, BMRDA or BBMP.
Key points that help
you prevent from being victimized by fraud:
- o Don’t fall victim to lustrous advertisements.
- o Choose a developer with proven records.
- o You should buy a property only if the title is clear.
- o Get the copies of original titles.
- o Ensure to get a copy of the approved layout plan.
- o Make sure to read and understand the documents entirely before signing.
- o After purchasing a vacant land, you need to make occasional visits to check for encroachments.
