What will be a better investment in 2020, buying an apartment or land?

While buying a plot of land gives you a bigger sense of ownership, an apartment offers greater security.

The apartment culture has taken over the residential market in major cities of India, but people still cherish the desire to buy a plot of land and build their own home. If you intend to do so, you must gauge several aspects such as the cost of building, appreciation, financial assistance and income, carefully.

Investing in real estate is almost always rewarding if you do it the right way. The key is to identify what you need out of your investment - regular returns or higher appreciation over time - and match it to your investment capacity. The trick lies in not over-stretching and never ever cutting down on the due diligence necessary." Here's a comparison to understand what makes more sense - an apartment or a plot of land.

Investment

Buying a ready-to-move-in flat requires you to pay a lump-sum amount or take a loan and pay EMIs over a period of time. This means you pay as you start living in the house. However, buying a plot requires you to have funds at your disposal to construct the property on the land bought and turns out to be more expensive compared to buying a flat of a similar size and dimension

Cost of purchasing a flat or land depends on the location. If you are considering purchasing a plot within city limits in a metro - where space is a constraint - the price would be much higher than what you would pay for a flat. On the other hand, if you were to invest in land in one of the Tier-II cities in India, you would be able to acquire a substantial plot of land at a much lower price. The thing to remember is that while several banks offer loans to buy a flat, not many offer loans for plots.

When you buy a plot, you have to regularly monitor the construction activity and there are chances of a project going over budget since a common man does not have the experience and expertise of constructing properties on a regular basis.

Scope of Resale

Prices of flats rise higher and faster given their limited number compared to independent houses which may not boast extra facilities that a housing society provides. The only advantage plots have is that the buyer gets to own the land and can construct a new house or an entirely new building to make profits

houses have a higher resale value than flats, "primarily because the person buying the house also becomes the owner of the plot of land on which the house has been constructed".

Return on Investment

When it comes to independent houses, the value of the land rises, but the built-up property's value keeps going down over the years due to usage and resulting deterioration. The seller has to regularly invest in its upkeep.

A flat's worth keeps increasing consistently since it is always in demand due to its affordability factor. However, the owner of a plot can make profits on his investment if he plans wisely by constructing multiple floors and renting them out. Also, as a lesser number of houses is being built on plots, their demand is rising amongst those who can afford them. Purchasing plots purely for investment purposes can yield healthy profits, too.

Safety

A lot of frauds happen where the buyers are duped into buying government-owned lands or plots under legal scrutiny. This is normally not the case while buying a flat, as necessary permissions are in order from the municipal authorities and a builder only constructs and sells the property after undergoing due diligence in most cases.

A housing society is well-protected and guarded round the clock and has state-of-the-art security systems and a lot of families around, which means the probability of something untoward happening is low. Living independently means investing in security from your own pocket.

Conclusion

Choose the best option after analyzing your needs, financial abilities and liabilities. If you are merely looking to invest your funds for a few years until you are ready to invest in a flat, a plot in a location that will see appreciation in the future would be a good idea.

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When should I apply for an apartment?

I recommend starting your search 30-60 days before your desired move-in date. The inventory will be up to date during your search, and you’ll be ready to move in fairly soon once you find something.

Finding an apartment online is becoming the norm, so it’s no surprise that property managers and landlords are spending a lot more time advertising their rentals online. In the same vein, they’re also creating more detailed descriptions of the property so buyers can get a better idea of the unit without having to tour it. By reading through an apartment’s description, you can learn about the amenities offered, whether or not it’s pet-friendly, and, most importantly in this case, its availability.

Once you know when you want to move in, it’s helpful to know what you’re looking for a property in Bangalore. Having priorities, requirements, and even a checklist of what you want in your next place will help narrow down your search. Consider which of the following amenities you need and which you could live without.

• Parking space
• In-unit laundry
• Dishwasher
• Backyard/yard for pet
• Swimming pool
• Elevator
• Fitness center
• Resident lounge/common space

Next, do your research. Think about which neighborhoods you could see yourself in and which ones are off the table. You’ll want to factor in:

• Budget
• Commute to work
• Favorite places/hobbies and interests
• Public transit
• Cafes, grocery stores, restaurants

An apartment that is close to your work, but far away from all your favorite weekend spots, might not be the right choice. Decide what your definition of the ideal apartment is, then narrow down (or broaden) your search as you go.

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Why are tiles soaked in water before use?

When a tile (or a brick for that matter) is too porous, it will suck the water out of the mortar without allowing it to set properly, leaving weak bonds between mortar and tile.

1. For the proper laying of tiles. hire an experienced mason.
2. Before fixing, tiles must be soaked in water for about an hour. Soaking of tiles is not required in case of fixing with chemical adhesive.
3. The wall surface is to be rough plastered using mortar composed of one part cement and two parts sand.
4. On the wall surface, a coat of very thin cement slurry should be applied by brush at the time of fixing the tiles.
5. The mortar is to be spread on the backside of the tile. This should be composed of one part cement and two parts sand.
6. Tiles so placed in the mortar should be gently raped to ensure total mortar contact.
7. Shade and Size variation is an inherent characteristic of ceramic tiles. Before fixing, the tiles should be mixed separate boxes to have random blending and avoid obvious patches.
8. Mixing of time with cement, careless mixing or deliberate use of rich mixes will lead to wall tile failure.

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What factors should consider while buying flat?

Investing in a new house or Ultra Luxury Apartments in Bangalore is one of the most crucial decisions of your life and is probably an idea you have been nurturing since a very young age. Years of saving and years of planning cannot be let go at the right moment when you make the final decision. Hence, you are required to keep all possible points in mind before you take the leap and make a selection. Although some of the key factors to be considered while zeroing in on a new flat or house is location, possession date and price, there are some more precautions while buying a new flat:

Property Price: The first step in selecting a house or a flat is to fix a budget. It makes it easier to shortlist a house if you know how much you are willing to spend on it. Portal listings, brokers of the area or newspaper listings are such sources.

Flat’s Carpet Area: Usually, a property’s area or the super built-up area that is listed is the entire area including shafts, elevator space, stairs, the thickness of walls and others. However, the carpet area is the actual area within the walls of the flat.

Land Record: The land on which your flat is built is very crucial. You must research the soil quality and topography of the land on which the house is constructed. The plot should also be clear of all dues and be registered.

Legal Check of Property: Ensure the property is legally authorized to be constructed on the plot it stands on. The developer should have approvals and NOCs from Area development authorities, water supply and sewage boards, electricity boards, and Municipal Corporation.

Apartment Possession: It has become a trend of delayed possessions of flats owing to delay in commercial and residential plans. As a buyer, you should have a clear estimate of the timeline for possession.

Financing Banks: You should be aware of the banks that are willing or not willing to finance certain builders. Owing to a bad reputation, some banks do not offer loans to some builders.

Builder-Buyer Agreement: When you select a flat or house of your choice, you can book the same by giving a token amount, in return of which you get an allotment letter. Then, a tripartite agreement is entered upon between the buyer, the bank and the builder for the rest of the amount. This agreement should be read and understood in detail before signing it.

Location of the Flat: Not to forget, it is important to look around the area where you are going to be eventually residing in. The amenities, physical infrastructure and reach to all the basic places are important to be analyzed. The flat should be in a safe and secure place, offering some security to families living in the flat.

Hidden and Additional Charges: Ensure that all the clauses of the documents are read in detail and penalty clauses are understood. The builder is required to pay you a monthly penalty in case you do not receive the flat’s possession within the grace period.

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Does the real estate market always go up?

Property prices across India’s major markets are expected to rise in the second half of this financial year as sales momentum is expected to pick up the pace with an increase in demand.

he downtrend in prices was arrested with some markets witnessing an increase in demand. “In the past five years, bigger residential markets like Delhi and Bengaluru saw a marginal dip in average property prices while Mumbai, Pune, and Hyderabad witnessed 2-3% rise in average prices.

According to the report, and it is expected to be one of the fastest-growing residential markets in the current fiscal. In the last quarter of the previous fiscal, Bengaluru witnessed the highest growth with 4% quarter-on-quarter increase in total sales to around 8,800 while Delhi saw 3.5% growth.

Sales volume is coming back and, despite the flattish market, we have seen price moving up in our projects. In the current fiscal we expect prices in the existing and upcoming projects to see higher than inflation growth.

To give a boost to the sector, the government and the Reserve Bank of India are taking positive steps. The RBI has cut rates twice in 2019 to bring down repo rate to 6%. “The central bank has shown a positive stance by announcing a reduction in key lending rates.

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What sets luxury apartments apart from regular apartments?

The regular apartment segments continue to be a popular choice with the middle and salaried class. Experts watching the real estate space are extremely optimistic about the demand for both segments. While luxury apartments raise the bar on comfort, convenience, and quality, regular apartments come with their own advantages. Statistics show that more than 60% of first-time homebuyers continue to opt for regular apartments.

Cost

1. The price of a luxury apartment can be in the range of Rs 1 to 4 crores, depending on the amenities. Add to that an annual appreciation rate of 3% to 7%.
2. As for rentals, luxury apartments fetch over 40% higher rentals than regular apartments.
3. In cities like Bangalore or even Pune, regular apartments are in high demand owing to the large middle-class pool. The price usually ranges from Rs 40 lakhs to Rs 90 lakhs, depending on the location and amenities
4. The annual appreciation of these properties ranges between 2% and 4%.

Investment value

1. Luxury apartments in an upscale neighborhood is a performing asset.
2. The rental value for luxury apartment owners is a 40% premium compared to regular apartments.
3. For investors, regular apartments deliver consistent rental income as they are more popular among the floating population who prefer affordable and smaller spaces.
4. Price volatility is is more in luxury apartments in Bangalore, with prices fluctuating between both ends of the spectrum. Regular, mid-segment apartments continue to have steady pricing and are an attractive option for all.

Space

1. A luxury apartment spreads over more than 1800 sq ft, accommodating a 2, 3 or 4 BHK space.
2. Expansive kitchens, maid quarters, attached balconies or a party space can be a part of it.
3. Regular apartments can range from 700 to 1200 sq ft and are mostly compact units housing all under the same roof.

Amenities and comfort

1. You are spoilt for choice – from roof-top private pools, Juliet balconies, helipads to canopied walkways - a luxury space offers lifestyle amenities that let you live life king-size.
2. Another hallmark of luxury apartments is its top-of-the-line construction materials and fittings.
3. Regular apartments offer standard amenities like power back-up, swimming pool or a functional gymnasium, for all its residents.

Highly secure living spaces

1. Luxury apartments have higher levels of security. Emergency buzzers, intercoms, fire chutes, and top-of-the-line security installations ensure a stress-free life.
2. Many high-end apartments provide solar generators, home automation, accident, and medical emergency relief rooms, natural disaster bunkers and safe rooms in case of terrorist attacks.
3. Regular apartments offer collective installations, power back-up, and secure access through electronic cards or guards. These apartments have a shoestring budget for security and depend mostly on outsourced agencies.

Conclusion: While it’s hard to fathom which side the scale tips, the demand for both luxury and regular apartments are on the rise. But ultimately your choice of a home remains an eclectic mix of emotions and economics.

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Which is better, constructing a house in the site or purchase a flat in Bangalore?

Buying property is tough. As if saving money for the goal isn't arduous enough, you have to rack your brain to decide what to buy - an apartment or a built-up house or a plot. Besides lifestyle preferences, one has to look at aspects such as taxation and bank loans as well.

COMFORT ZONE

While buying the best apartment in Bangalore, one does not have to worry about hiring an architect, seeking approvals from local bodies and dealing with contractors. The developer takes care of these things and hands you the house where you can start living immediately.

You also do not have to worry about things such as power backup, maintenance, and security. You get these services as well as common facilities such as a clubhouse and swimming pool. If you buy a plot and build a house on it, you will miss these comforts, unless it's in a gated community developed by a builder.

But plots have a big plus-they are usually ready for possession. Even when part of a big real estate project, you are likely to get possession of a plot much before the flats will be ready.

APPRECIATION

Location is the key to price rise. If the market is stable, the value of a plot will rise over time. As developing a plot is easier than building a structure, the value of your investment is likely to rise faster in a short span. This means you can exit investment bets earlier.

This is not to say the price of an apartment will not rise. Location, infrastructure, and neighborhood push up the value of both plots and apartments. However, the value of a building has to factor in the depreciation due to age.

Tax details

If you live in the apartment, you are eligible for deduction up to Rs 1.5 lakh per financial year for interest paid on the loan (provided the loan has been taken on or after 1 April 1999). You can also claim Rs 1 lakh deduction for repayment of the principal. If you buy a second house, the full interest paid is eligible for a tax deduction. However, in such a case, the rental income is added to your taxable income.

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Which are the super luxury apartments in Bangalore?

Bangalore remains to be one of the most sought after cosmopolitan cities in India. Best known for its ability to make everybody from all over the world feel at home, Bangalore is home to some of the most well-recognized colleges and research institutions in India. Currently, numerous public sectors, software companies, aerospace, telecommunications, heavy manufacturing industries, and defense organizations have lent it a pre-eminent position in Pan India.

The city has an eclectic spirit and has always attracted talents from all over India and even from the global scenario. A city with cosmopolitan culture, as you step into the city you will feel it pulsating with you. Not only is it vibrant because of the jazz festivals, fashion trends, it is also, known as the Silicon Valley of India, but it is also demographically diverse and soon emerging as a major economic hub and the fastest growing metropolis in India.

To visit the Top Super Luxury Apartments in Bangalore

Phoenix Mills is a 100+-year-old company that has established a distinctive presence in 8 cities with close to 17.5 mn sq ft in retail, entertainment, commercial, residential and hospitality assets spread over 100 + acres.

Phoenix mills own and operate The Phoenix Marketcities and commercial centers In the cities of Pune, Bangalore, Chennai, and Mumbai.

Phoenix group is poised to carve a niche in the booming Indian real estate sector and Its currently developing premium luxury Apartment projects in Bangalore.

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Is it a good time to buy an apartment in Bangalore, India, or should I wait for 6-12 more months?

This is probably the right time to buy flats in Bangalore as the property prices these days are quite low. You can even bag a good deal if you possess good bargaining skills this time. However, your purpose of investment matters a lot like if you are purchasing it for investment only, then invest in an area which has the potential to get you rental yields as well as capital appreciation in future. On the other hand, If you are purchasing it for your own use then, try to look out for options in a developed residential area which is in proximity to all civic utilities like schools, hospitals, public transport, etc.

A full-fledged recovery in the residential space is at least 12-18 months away, given the recent liquidity crisis and slower-than-expected sales recovery. Launches have dropped drastically with many under-construction projects getting stalled due to funding issues.

There is a big but though. The elephant in the room is residential real estate, which is telling you not to uncork the bubbly so soon or be so lavish with house-warming party.

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