Buying Your First Home in Bangalore? Read This First

Purchasing your first property is one of life's biggest financial decisions. Bangalore's real estate market offers incredible opportunities, but it also requires due diligence. Here are 10 essential checks every first-time buyer should make.

1. Verify RERA Registration

Every legitimate project must have a RERA registration number. Verify it on rera.karnataka.gov.in. No RERA? Walk away.

2. Check the Developer's Track Record

Research the developer's completed projects, delivery history, and customer reviews. Established developers like Sobha, Prestige, and Brigade have proven track records. Browse developer profiles on Proplisto's Developer Directory.

3. Understand the Total Cost

The listed price is not your total cost. Factor in registration charges (5-7% of property value), GST (5% for under-construction), maintenance deposits, legal fees, and interior costs. Budget 15-20% above the base price.

4. Get Home Loan Pre-Approval

Know your eligibility before you start looking. Banks typically fund 80% of the property value. Your EMI should not exceed 40% of your monthly income. Get pre-approved from 2-3 banks to compare interest rates.

5. Visit the Site Multiple Times

Visit during weekdays, weekends, mornings, and evenings. Check traffic conditions during peak hours. Talk to residents of the developer's completed projects nearby. Request a free site visit through Proplisto.

6. Verify Title and Land Documents

Hire an independent lawyer to verify the title deed, encumbrance certificate (last 30 years), khata certificate, conversion order (if applicable), and building plan approval. Never skip legal due diligence.

7. Compare Before Deciding

Don't settle for the first project you see. Compare at least 3-4 similar projects on pricing, amenities, location, and developer reputation. Use Proplisto's Smart Comparison Tool to evaluate side-by-side.

8. Check Possession Timeline

Under-construction properties offer lower prices but carry delivery risk. Check the RERA-registered possession date and the developer's history of on-time delivery. Ready-to-move properties eliminate this risk but cost 10-15% more.

9. Evaluate Resale & Rental Potential

Even if you plan to live in the property, consider its resale and rental potential. Properties near IT parks, metro stations, and schools tend to have better liquidity and rental demand.

10. Read the Agreement Carefully

Read every clause of the sale agreement before signing. Pay attention to penalty clauses, possession date commitments, specification details, and cancellation terms. If anything is unclear, consult a real estate lawyer.

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