Mumbai: The Dream City for Home Seekers

The financial capital of India, Mumbai is one of the most expensive cities when it comes to property investment. Mumbai has been transformed into a hotspot for buying property as well as for the investors. Be it commercial or residential property, Mumbai sells and rents out all kind of properties as quickly as possible.

Having a flat in Mumbai is one of most prestigious and it is possibly a dream for home seekers owing to the increasing property prices. The property for sale in Mumbai city is tremendously sold at the faster rate.

So, it is very difficult to come across an appropriate house in Mumbai which suits your budget as well as your needs. Since the population has always been increasing in Mumbai, the property for sale in Mumbai is always on the higher side if compared to other cities in India.

The property prices in areas like Andheri, Bandra, Bhandup, Borivali and Juhu are so high that it is just unaffordable for the middle class people to buy an apartment in Mumbai, so buying property in Mumbai has become very difficult due to the expensive property rates.

With the intention, to make Mumbai property affordable for all class of people, the real estate developers in Mumbai are developing new residential projects in the suburbs of the city.

Navi Mumbai is the focused locality for many real estate developers in Mumbai to provide affordable residential property to the lower and upper middle class people. So, despite of high real estate prices, Mumbai has something to offer for every class of the society as far as residential property is concerned. It is very unfortunate that the rate of developing new residential properties for sale in Mumbai has always been lower than the rate of increasing population.

All these facts indicate that how difficult it is to find a suitable residential property for sale in Mumbai, which suits your pocket as well as requirements.

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Greater Noida: A good option for affordable investment

Greater Noida is an extension of Noida with better infrastructures, impressive and swanky residential and educational facilities. Today, Greater Noida is on a fast track for development and it is a home to a number of Indian and foreign MNCs, hence the demand for property in Greater Noida.  This city is also in news, as it is going to be a smart city very soon. Some of the localities where one can invest in Greater Noida are:

Yamuna Expressway

This city came into the builder’s radar after the inception of the F1 Formula one track, as this track gives high hopes for good returns on investment in this location. Even though, it lacks infrastructure development, but is still attracting investors for investing in flats in Greater Noida. Apart from the private real estate builders, this area is also witnessing participation from Yamuna Expressway Industrial Development Authority (YEIDA) who has come up with residential schemes for the lower and middle income groups.

Pari Chowk

It is one of the best locations in Greater Noida. It is a planned and a low-population density area. With all facilities surrounding this locality, such as, entertainment hubs, schools, colleges, commercial areas, this area is continuously witnessing demand for properties in Greater Noida. All the major MNCs like Accenture, IBM, TCS, Steria, etc are in Sector-135, which is just 15 mins drive from Pari Chowk. Workforce looking flats in Greater Noida wants to invest in Pari chowk.

Noida Extension

This locality is an emerging residential hub with a promising better life style. As this locality is witnessing an upward trend, the home buyers are looking at Noida Extension for investing in the flats in Greater Noida. The reason to invest in this locality can be attributed to infrastructure development, metro connectivity, competitive prices, closeness to New Delhi and other metro cities.

A home buyer can opt for any of the above localities when he plans to invest in property in Greater Noida,  as they are expected to get transformed into a mass residential hub with good amenities and as the analysts say that in the next couple of years, it will have a good return.

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Importance of Bangalore Occupancy Certificate

Though there are many property for sale in Bangalore, a buyer can move into their own apartment only after obtaining the Occupancy Certificate (OC). The OC is issued by the Bruhat Bangalore Mahanagara Palike (BBMP) and it is mandatory for all the properties for sale in Bangalore to hold OC without which it may lead to many legal proceedings.

Short procedure of OC generation

The Palike acquires the necessary information from the owner and the buyer highlighting that the construction has been completed. The builder is bound to fill the OC application form in order to get the certificate. Upon this, the builder must also submit a few documents that are listed by BBMP. The BBMP authorities will inspect those properties for sale in Bangalore city and will confirm it has been constructed according to the proposed norms and approval plan. In case, the deviations are up to almost 5 per cent from the proposed plan, then a fine will be charged depending upon the level of deviation. And, one the fees is paid, the occupancy certificate will be issued.

Checklist to get the Occupancy Certificate

1.    Basement floor and ground floor must be used for parking purposes only.
2.    Footpath in front of the apartment must be maintained properly.
3.    Rainwater harvesting system must be implemented and maintained in good condition.
4.    The builder of those properties for sale in Bangalore makes a security deposit. In case if there is any deviation from the approved plan, the builder has to pay penalty.
5.    The owner should make arrangements, with consultation with BBMP Zonal Health Office, to dispose the organic and inorganic waste.
6.    The builder/owner is not permitted to alter the structure without seeking permission from BBMP. If the structure is changed, BBMP has the right to damage or demolish the structure.

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