6 Factors To Consider While Investing In A Property While On Budget in Bangalore

Investing in real estate can be tricky if you haven’t done it before or if you don’t have the right guidance. With growing career opportunities and more and more companies moving base to Bangalore, this city is a hotspot for youngsters. With beautiful gardens and amazing nightlife, this city has everything you need. But before you invest in residential projects in Bangalore, here are 6 tips you shouldn’t ignore. 

1)     Decide the location
The first and foremost step in real estate investment is to decide where you want to buy a property. The right location can be profitable to you and prove to be a great investment depending on the development in and around the area. Good property investment can reap great benefits in the long term. So, ensure you take an informed decision about the location. 

2)     Budget your investment
This goes without saying but deciding on the budget and sticking to it before checking out new apartments in Bangalore is crucial. Approach a trusted financial expert if you do not understand the details well. Always try to choose an investment that offers high value for money and serves the purpose that you envision. 

3)     Get to know your market
You must conduct an in-depth analysis of the current market trends before committing to a 2 BHK flat in Bangalore. Compare different properties in the same locality to find out the pros and cons of each. Always seek a second opinion from someone who is a pro at real estate investments. 

4)     Size and type of property
Land prices can vary depending on the size, location, and type of property. So, it is important to know which type of property you want to invest in. Buying ready-to-occupy apartments is a great way to earn ready rent soon. Ongoing projects can be priced much lesser than completed projects, so decide accordingly. 

5)     Know your needs
Everyone invests in properties with a different intention. It is best to understand your needs before investing in property. For some, it may be a dream home it may be an investment, so buy a property after understanding your needs. If you are investing in a house, you may want some extra space for a garden or verandah. 

6)     Amenities that surround you
Every area is different and may have different amenities to offer. You should go around the area to explore the various facilities offered. Right from community pools to gardens and clubs, look at what most interests you. 

These are some of the many factors to consider before investing in a property in Bangalore on a budget. Keep your options open however, do not compromise on the points that matter.

Share this Blog & your thoughts with us in the comments below!

Here’s how you can calculate your house tax in India 2020-2021

Owners of property in India are liable to pay property tax. This tax is collected by the Municipal Corporation of a particular state. This differs from state to state. Nowadays, Property tax online payment can be done very easily. Let's understand some more points about property tax and how it can be calculated.

 

Every state has different rules and regulations when it comes to property tax. Property tax applicable for Apartments in Bangalore will be different than that of apartments in Mumbai, Chennai and Delhi.

 

What is Property Tax?
Property Tax is charged annually by the Government to property owners. It is charged from the property owners for different properties. This property can be residential like apartments in Bangalore and office premises as well. Well, if you are thinking who collects the property tax it is the Municipal Corporation or local government as authorized in that area. This property tax bill is basically used for infrastructural activities such as construction of roads, highways, sanitization etc.

 

Calculation of Property Tax
Property Tax is calculated for different locations, states and cities. A general calculation for the same. Base Value*built up area*age of property*type of property. This value is divided by building*category of usage*floor factor to get the property tax. This is why property tax differs for different types of property such as 1 or 2 bhk flat in Bangalore. The age of property also becomes an important factor in determining property tax.

 

Property tax calculation methods
Property tax payment can be done both in online and offline modes. Property tax online payment is much easier. Below are a few property tax calculation methods -

 

1. Capital Value System

As per this method, the property tax is calculated on the basis of the market value of the property. Where the property is located makes a major difference in this case too. Percentage of this market value will be the property tax to be paid.

 

2. Unit area value system

This calculation is on the basis of the per unit price of the entire built up area. Land price, usage and location become important aspects here.

 

3. Annual Rental Value System

This is the ratable value system. As per this property tax is calculated on the basis of rental value of property. Landmarks and amenities are of significance here.

 

Whether it is a 1 or 2 bhk flat in Bangalore or elsewhere, property tax needs to be paid and this guide will help you to understand your property tax in a better manner.

Share this Blog & your thoughts with us in the comments below!

Your property taxes in Bangalore may need to be checked in again!

Property Tax - This is an important payment for those who own a property in any place in India. When it comes to property tax it differs from state to state. In the city of Bangalore, the calculation and management of property tax is carried out by the Bruhat Bengaluru Mahanagara Palike (BBMP). It is calculated as per the Unit Area Value (UAV) of the apartments in Bangalore. 

●      Bangalore Property Tax Details

Property Tax differs from state to state and jurisdiction to jurisdiction. Calculating property tax on your property through digital mediums is very easy. The Bruhat Bengaluru Mahanagara Palike is categorized into six different zones or areas. The BBMP Property Tax Calculator is also a great and easy tool to calculate and pay your property tax online Bangalore. Property Tax in Bangalore can be paid annually or bi-annually. 

●      Process of Property Tax payment in Bangalore

Property Tax payment is made super easy with the Property Tax Online Payment. In the BBMP Property Tax Calculator it is important to fill in the required details for the property tax calculation. It is the usage, assessment Year, construction type, zone, year of Construction and Built-up Area that has to be added first. After adding all these details, Click on the SUBMIT button and your property tax for that current fiscal year will be shown on the screen. Whichever apartments in Bangalore you own, all kinds of apartments need property tax to be paid. 

●      Property Tax Payment - Offline

A property owner will be able to pay the property tax in both offline and online mode. Property Tax Online Payment is very easy to pay especially in the current pandemic scenario. The property owner can opt for offline or manual payment mode and has to pay the tax by first filling up the form at the nearest authorized Bangalore centers and ARO offices. These centers are usually the nationalized banks in Bangalore. Property owners of both 1 and 2 bhk flats in Bangalore can pay the property tax very easily. 

●      Property Tax Payment - Online

Outstanding property taxes can be paid very easily on the BBMP official website and does not need any hassle. One can also pay taxes online for your 1 or 2 bhk flat in Bangalore by entering a SAS application number that will help you to do your payments online easily. After you submit the application number, users can pay the property tax online easily using credit /debit card or internet banking. Property number will help you to initiate the payment process. Successful payment will generate a receipt with all the details of the online payment.

Share this Blog & your thoughts with us in the comments below!

Property Taxes – Everything you need to know about Property Tax Online Payment

Tax! This is a word that scares the common man. Taxes are of various types. Every person dreams of owning their home in a metro city, like the apartments in Bangalore. However, no dream comes without a tax. Whether you dream of starting your own business or buying your own home, tax is what you pay to the government as a mandatory financial charge. Income Tax, professional Tax, property tax are few of the many types of taxes a citizen has to pay in order to earn money in that particular country, practice their profession in a state or purchase a property of their choice, respectively. 

Failure to pay tax is punishable by law. Over the years many changes have happened through the Property Tax Bill. Nowadays, the payment and management of tax is easy and accessible because of property tax online payment. In this article, let's understand property tax, its characteristics and calculation. 

●      What is Property Tax?

Property Tax is also called House Tax. It differs from one municipal authority to another. For instance, property Tax for a 2 bhk flat in Bangalore, depends on the municipality law and regulation of that particular region in Bangalore. It is levied on real estate owners. 

●      Property Tax calculation

Whether you plan to purchase a 1 bhk or a 2 bhk flat in Bangalore, knowing how to calculate property tax is very crucial for good financial planning. Capital value system, Annual Rental value system and Unit area value system are the different types of ways to calculate property tax. Unit area system is paid as per the property unit price, the annual rental system depends on yearly rent and the capital value system directly reflects the market value of the property. In the technological online age, property tax online payment has become an easy way of paying your taxes. 

●      Property Tax characteristics

This is the tax which is generally used to maintain the civic amenities of that area. Property for apartments in Bangalore will be used for the maintenance of the civic amenities in that area. Civic amenities maintenance through property Tax includes cleaning roads, sewage areas, lighting, parks, various other residential and commercial infrastructure amenities etc. 

Taxes are a mandatory element. Proper tax planning and payment can avoid the overdue charges that you will be liable to pay if property tax is not paid on time. This property tax guide will help you to plan your tax management wisely.

Share this Blog & your thoughts with us in the comments below!

A guide to paying the right property tax for homeowners in Bangalore

Buying property involves a lot of documentation. Property tax payment is an inevitable part of purchasing a property in India or elsewhere. Apartments in Bangalore and many other regions in India come with property tax levied on it. In order to know about the property tax on apartments and other property, let's see the guide to paying property tax in Bangalore. 

●      What is property tax?

Property tax for any property such as the 1 or 2 bhk flat in Bangalore is a payment that reoccurs and is submitted to the municipality body of the state. Specifically, in Bangalore the property tax for apartments in Bangalore is paid to the Bruhat Bengaluru Mahanagara Palike (BBMP). This payment is done by the 30th of each year. Also, the amount of tax keeps varying as per the location where the property is located. This property tax is utilized by the state government to provide civic amenities to the public. The various facilities for which the property tax is used are constructing seamless roadways, developing a proper sewage system and also for building recreational parks for people of the particular location. 

●      Property tax calculation and payment

Like mentioned earlier, whether it is a 1 bhk or a 2 bhk flat in Bangalore, property tax is calculated depending on the location for which the tax is calculated. The process of tax calculation has also become super easy. Not just the location, the usage and occupancy are also some of the factors that influence the property tax calculation. The process of tax payment is completely automated. Property tax online payment is a famous mode for payment. The entire payment process is automated on the official BBMP website. Also, remember that property owners are applicable to get a tax rebate of at least 5 percent. This is applicable in the case where the property tax is paid prior to April 30th of the following fiscal year. There is also an installment feature available wherein the first installment needs to be done by May 30th and the second one by November 30th. The feature to pay property tax online Bangalore has made it convenient to pay the property tax on time. Missing the date could lead to accumulation of interest on the tax. 

Following this guide to pay property tax in Bangalore will turn out to be very useful. You can also check your property tax online with the help of an automated property tax calculator devised by BBMP.

Share this Blog & your thoughts with us in the comments below!

Understanding Apartments in Bangalore – the layman way!

Bangalore always has a great deal of potential when it comes to real estate investment here or overseas. Let's understand what makes buying apartments in Bangalore the best investment in the entire country.

Evolution of Bangalore as a real estate investment opportunity

Flats in Hebbal or other regions are picking up a lot of pace. There are many people from all over the country and other hometowns that come to Bangalore and this has been the trend in the last decade. Various factors such as increase of people coming here, macroeconomic dynamics, good infrastructure and climatic conditions have been great in terms of making Bangalore the hot spot for real estate developers in Bangalore to make it a good investment opportunity. The

IT and manufacturing Hub of India Bangalore is today catering to the real estate needs of people from all over the globe various locations and all walks of life who come here to build a career base.

  

Why Bangalore real estate is a great decision?

Bangalore is great for a cultural and ethnic fusion of a mix of individuals. There are luxury villas in Bangalore for sale. This cosmopolitan city has a lot to offer in terms of employment opportunities from the Indian IT sector which will ensure the flow if people here and will never depreciate the cost of real estate. As a matter of fact, it is indeed the highest paying city in the country. The best of ecosystem, infrastructure,  commercial activities, science research and management education institutes, with a good government body makes it a silicon city of India with great rise in the real estate potential.

The influx of citizens here for housing and accommodation is a positive shift for new apartments in Bangalore. Good market conditions and price makes it perfect for investing. International investors and NRIs use this as a lucrative means for returns and the city has made attractive policies to lure foreign investment as well giving it a competitive advantage in the country for real estate.

Top places to invest in Bangalore

would be Devanahalli, HSR and nearby areas, Electronic city etc. The city’s international airport is in Devanahalli and is a good real estate development factor for 2019. There are affordable housing areas and economical as well like 1 bhk flat in hebbal bangalore. High rise buildings towers and luxury apartments have also made their way in these regions for high end buyers this attending to all real estate needs. With good connectivity and lush greens, of Devanahalli versatile apartments in bangalore are on the rise.

Share this article & your thoughts with us in the comments below!

New Projects in Devanahalli are a sight for sore eyes!

Introduction

The Indian real estate market as of today stands relatively flat at the macro-level. However, there is considerable action available at the micro-level. The real estate in several pockets of the country are reasonably and priced, and if tapped, can provide considerable returns to investors.

One of the leading cities with real estate action, Bangalore has several residential projects by builders such as the hiranandani developers. In this light, there are various apartments in Bangalore to look at.

About Bangalore

Known as the Silicon Valley of India, Bangalore houses a large number of tech companies and start-ups and is also one of the leading employment hubs in the country.

In light of these aspects, the city has seen a considerable influx of professionals from all over India and overseas, due to which there is an increasing demand for apartments in Bangalore, especially Northern Bangalore. In order to accommodate this influx, the city’s borders are gradually expanding and newer suburbs are emerging. One of these emerging suburbs, Devanahalli is currently a hot destination for real estate, industrial and technology.

About Devanahalli

Till about a decade ago, the township was dominated by empty parcels of land. The tables turned for the township when Kempegowda International Airport was formed. As a result, the barren land of yesterday is witnessing a massive transformation into a residential and industrial hub.

In addition, the township of Devanahalli also provides seamless connectivity options:

·        The Kempegowda International Airport stands at 5 km south of township on the NH7 highway

·        NH7, having a 6-lane road, is well-planned provides robust connectivity to the Hebbal region

·      The locality can also be well-accessed through public transport as it connects various pockets of the city.

Not only physical infrastructure, Devanahalli also has a strong social infrastructure in terms of various employment hubs and schools, shopping malls and hospitals.

Projects

The region surrounding Devanahalli has bagged multiple residential complexes in its kitty, which is expected to bring in a total investment of INR 1500 crores. Hiranandani developers, among others, have brought numerous new projects in Devanahalli.

The Hiranandani builders, under the banner “House of Hiranandani”, bring to the table various apartments, cottages and villas.

These projects have added considerable charm to the city, by providing not only breath-taking architectures, designs, enticing amenties and a mixture of luxury and beauty, but also through its strategic location. The residents are in “great hands”, as they are in close proximity to the Airport, various schools, malls, restaurants and hospitals.

Take Away

The city’s emerging industrial, IT and investment hub, along with its close proximity to the airport, robust connectivity and social infrastructure, the region of Devanahalli is worth looking at.

Share this article & your thoughts with us in the comments below!