Investing in real estate is a decision that requires careful consideration and research. Bangalore, often referred to as the Silicon Valley of India, is a city that offers tremendous growth potential in the real estate sector. One of the most promising options for investment in Bangalore is BMRDA (Bangalore Metropolitan Region Development Authority) approved plots. These plots come with several advantages that make them a lucrative investment opportunity. In this blog, we will explore the benefits of investing in BMRDA approved plots in Bangalore.

1. Legal and Regulatory Compliance:

BMRDA-approved plots ensure that the property adheres to all legal and regulatory requirements set by the Bangalore Metropolitan Region Development Authority. This provides buyers with a sense of security and eliminates the risk of investing in unauthorized or illegal properties. By investing in BMRDA-approved plots, buyers can avoid legal hassles, disputes, and potential losses.

2. Planned Development:

BMRDA-approved plots are part of planned development projects that follow a well-defined urbanization strategy. These projects often come with integrated infrastructure, including roads, drainage systems, parks, and recreational facilities. Such planned developments enhance the quality of life for residents and contribute to a better living environment. Additionally, they have a positive impact on property values, making it a wise investment choice.

3. Appreciation Potential:

Bangalore’s real estate market has witnessed steady appreciation in property values over the years. BMRDA-approved plots, being a part of planned development projects, tend to appreciate faster than properties in unregulated areas. The well-designed layouts, infrastructure, and amenities associated with these plots attract buyers and contribute to increased demand, which in turn drives property prices upward. Investing in BMRDA-approved plots offers the potential for long-term capital appreciation.

4. Infrastructure Development:

The BMRDA places significant emphasis on infrastructure development in Bangalore. By investing in BMRDA-approved plots, buyers can leverage the benefits of infrastructure projects such as road expansions, flyovers, metro connectivity, and upcoming commercial and industrial hubs. These developments not only improve the accessibility and connectivity of the area but also attract businesses, leading to job opportunities and economic growth.

5. Amenities and Facilities:

BMRDA-approved plots are often part of integrated townships or residential layouts that offer a range of amenities and facilities. These may include well-planned roads, landscaped gardens, clubhouse, swimming pools, sports facilities, schools, hospitals, and shopping centers. Such amenities enhance the quality of life for residents and make the area more attractive to potential buyers. Investing in BMRDA-approved plots provides the opportunity to enjoy a comfortable and convenient lifestyle.

6. Transparency and Trust:

BMRDA-approved plots undergo a rigorous approval process, ensuring transparency in the transaction. Buyers can verify the legitimacy of the property, including title deeds, land use, and clearances. This instills trust and confidence in the investment, making it a reliable option for both end-users and investors.

Conclusion:

Investing in BMRDA-approved plots in Bangalore offers several advantages, including legal compliance, planned development, appreciation potential, infrastructure development, amenities, and transparency. These factors contribute to the long-term growth and value appreciation of the property. However, it is essential to conduct thorough due diligence, engage with reputable developers, and seek legal advice before making any investment decision. With careful consideration and research, investing in BMRDA-approved plots can be a smart choice for individuals looking to capitalize on Bangalore’s real estate market and its growth potential.

Larger homes are not just a preference but a necessity in a work-from-home and study-from-home environment in COVID-19 times. Sales in the 3BHK category have increased due to homebuyers’ preference for larger homes even in peripheral locations.

The sale of 3BHK housing units has increased by 19% on a year-on-year basis, according to data accessed by PropEquity, a real estate data analytics firm. As many as 30,169 3BHK units were sold in the first quarter of 2021 while 25,307 units were sold in the first half of 2020, it said.

Mumbai Metropolitan Region has seen maximum sales of such units at 53% with 2781 3BHK units sold in the first quarter of 2020 and 4272 units sold in the first quarter of 2021. Chennai witnessed a 43% increase with 2387 units sold in Q1 2021 and 1665 units sold in Q12020. NCR saw a 12% increase with 4988 units sold in Q1 2021 and 4433 units sold in Q1 2020. Pune saw a 34% increase in the sale of 3BHK units with 4171 units sold in Q1 2021 and 3107 units sold in Q1 2020, the data said.

As per ANAROCK Research, pre-COVID trends indicated that demand for 2BHKs was the highest ranging between 40-45%, followed by 3BHKs with 25-30% in most of the top cities excluding MMR.

In MMR, this percentage range would vary because 1BHKs also had a high share ranging between 20-25%. However, post-COVID-19, amid the WFH and online school culture, one has seen a difference in demand for bigger size homes.

After considering affordability and their financial viability, many buyers are seeking a 3BHK across most top cities. In this growing preference, one is seeing demand for 3BHKs now ranging between 30-35% as against 25-30% of the pre-Covid period. As for 2BHKs, the demand has shrunk from the previous 40-45% to 35-40% now.

ANAROCK’s latest consumer survey also validates this.

Although 2BHKs continue to be the hot favourite for prospective homebuyers in both pre and post-COVID surveys. However, there was a marginal decline with 49% of property seekers now preferring 2BHKs as against 52% pre-COVID.

“Also, in the post-COVID survey, the popularity of bigger configurations (3BHK & 4BHK) increased as compared to the pre-COVID survey. For 3BHKs we saw demand increase from 31% pre-COVID to 38% post-COVID. For 4BHKs, the share increased from 2% pre-COVID to 3% post-COVID-19, said Anuj Puri, chairman – ANAROCK Property Consultants.

According to PropTiger Data Labs, there were 15,998 units in the 3BHK category sold in Q1 2020 and this increased to 17,200 units in Q1 2021, clearly indicating that there was momentum in sales in this segment.

The pandemic has made homebuyers realise the importance of a dedicated space that can be utilized for work or study, says Nayan Raheja of Raheja Developers, adding future projects will all include an additional room. But bigger spaces do not necessarily mean that buyers will stretch their budgets. They may decide to invest the same amount but move to a suburban location.

Changes in home design are in the horizon. Homebuyers’ requirements these days include a home office, yoga space, decks offering natural light and ventilation among other things, says Amarjit Bakshi, CMD, Central Park.

With the work-from-home trend taking effect due to COVID-19 last year, enquiries for larger houses across cities had increased and the trend continues, say brokers.

Enquiries for larger homes in Bengaluru have increased up to 40 percent with property seekers predominantly scouting for 3 BHKs as against the previously-preferred 2 BHKs, data has indicated.