Bengaluru is host to many great things. One of those things is the amazing array of properties. The properties in Bengaluru cater to people of all backgrounds, age groups, and socio-economic backgrounds.
The city is filled with projects ranging across commercial, residential and mixed-use real estate.
Commercial properties are used for the purposes of income generation by the industry. On the contrary, residential properties are those that have been zoned for the specific purpose of dwelling. Income like rental income can be generated from the residential property as well. However, the property cannot be rented out to industry and must be occupied by a tenant for the purpose of living.
Bengaluru has an array of residential property that is used for both rental purposes as well as occupancy by the owner itself.
The real estate in Bengaluru is governed by the local municipal corporation. Anyone who owns a property in Bengaluru needs to get their property registered with the local municipal corporation. The municipal corporation will then levy stamp duty and a registration fee on the property and charge property tax from the owner. This is an important step to legally prove your ownership of a property in Bengaluru.
Any failure to have your property stamped or registered in Bengaluru can result in a penalty fee on the same.
Another common cost associated with owning residential property in Bengaluru is the maintenance fees. The maintenance fee is a fee charged by the developer to keep up with the regular upkeep of the common areas of a property.
There are mainly 3 types of real estate sellers in Bengaluru
A property could be for sale by owner, like a house on an independent plot of land or selling a residential unit in a developer project. A developer, however, would normally list their whole project up for sale and then sell out individual units from the project.
Bengaluru mainly consists of properties like independent houses, villas, apartments, and builder floors. These can be found in townships, multi-unit apartment buildings, or standalone plots.
These developers have various projects in the affordable, luxury, and ultra-luxury segments. This was done to cater to the socio-economically diverse population of the city.
Are there any affordable properties available to buy in Bengaluru?
What basic amenities must you look for while buying a property in Bengaluru?
Which are the best banks to get a home loan for buying an estate in Bengaluru?
What documents are required while purchasing a property in Bengaluru?
What kind of charges and taxes you will have to pay while buying real estate in Bengaluru?
What factors affect the value of properties in Bengaluru?
What factors influence the choice of an estate in Bengaluru?
What are some of the residential property types available for sale in the top localities of Bengaluru?
Are there any properties in Bengaluru available from owners?
Will property prices fall in Bengaluru?