Buying guide for 2 BHK, 3 BHK Apartments home buyers who have missed the auspicious Akshaya Tritiya day-South Bangalore’s open property mart leads the way
property. Those who missed buying during the auspicious time can still make a move. South Bangalore’s localities like Sarjapur Road still bring a smile to genuine investors.
Be alert-read fine print of auspicious concessions on homes
Let’s remove the red herrings out of the way before investment. This takeaway will hold you good stead.
Most buyers get lured by the concessions and discounts offered on Akshaya Tritiya or any other festive occasion. They do not realize that the developer is offering a discount on the front but will manage to extract back that money through some other means. It is also possible that the developer is making special offers to get rid of some unsold housing units.
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Open market pricing
This is the right indicator of property pricing.
In the open mart you can make comparisons, look at the data and prices. It is always a good idea to check out property prices prior to a festive offer and see if it is actually concessional. The open market offers more transparency. For instance if you wish to invest in residential projects in Sarjapur Road, Bangalore you could be surprised to know that they have a bigger concession than that offered by developers on Akshaya Tritiya. Moreover, home investments are not undertaken on the basis of superstition or sentiment but rather on the basis of open market prices as they reflect the true picture of the value in a locality.
Choice of location is more important than special offers
Unscrupulous developers sometimes offer concessions for properties in localities that are not popular or which do not command value appreciation.
Akshaya Tritiya is traditionally considered propitious because the property bought on this day is considered to bring in long-term returns. There is no way to know whether the ready to occupy flats in Sarjapur Road will bring in more long-term returns or the luxury apartments or residential villas. Similarly, there is no guarantee that the property bought on Akshaya Tritiya will continue to grow and appreciate in value.
All aspects should be considered
Before buying it is important to match all your needs and the offerings to make a right decision.
Any property that is bought after taking into consideration all aspects of locality, amenities, facilities offered, a presence of school, hospital, and connectivity have a better chance of appreciating than property bought in a location where there are no such amenities.
An apartment bought through the open mart in the fast developing South East Bangalore Sarjapur Road has a better chance of appreciation than a property bought only on Akshaya Tritiya in a location where there is no infrastructural development or amenities to speak of.
New launches can happen at any time
While it is a fact that a number of new launches take place during Akshaya Tritiya it is also equally possible for projects to be started at any other time of the year.
It is now an acknowledged fact that the residential market is rising steadily again after the demonetization phase. Apartments in Sarjapur Road have shown some rise in capital values. If one is to go by this market trend then Sarjapur will be a strong realty location and so investment here will be a worthy investment. If you want to invest in this locality then the open market is what you must check out for a clear picture.
It is not necessary that festive season alone can cause a dramatic shift in market trends. Buying patterns remain more or less the same during the entire year and it is not as if those sitting on the fence will suddenly jump into a buying spree because of Akshaya Tritiya. They are likely to buy property depending on affordability, locational superiority and availability of bank loan so the open market is what they can bet on.
Year-round exhibitions are also useful
Developers often get together to offer various housing schemes across the city. Take advantage of comparing properties in one exhibition itself.
A roof over the head is a serious proposition and should not be swayed by special day offers. But there are reputed developers who honor their commitment and build the trust of the residents. Look for those who have already fulfilled their commitment to other home buyers in other parts of the Bangalore city.
When you visit exhibitions, all projects are under one roof. Various segments of apartments with different prices can be checked in a single venue. As a buying guide, keep following your gut instinct rather than any sentimental reason or festive occasion.
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