Whenever you plan to invest in a property anywhere in the country, you do count in many factors before you make any decision. Though off-late a slump in the real-estate was seen and expected to haunt the Bangalore real estate along with the economy in the year 2017. Here is a list of top 6 factors, which are haunting the Bangalore real estate;
After the declaration of demonetization, in November 2016, a drastic change in the real estate was noticed. The sale plummeted remarkably. Though the evil spirit of this ghost still haunts the real-estate market and had affected the market of new projects in Bangalore. People are willing to buy flats and want to even invest in the new construction in Bangalore, though it becomes really hard for them to pay the down payment as a slump had come in the market because of demonetization and banning of the notes. The government is too strict in cash transactions.
- Security of Females;
The latest molestation case in Bangalore had been in highlight for many days. People do show their rage towards the security in a city which was considered to be the safest city for women at some time. Today the time had changed, so as the safety, hence this factor is haunting and forcing people to make a distance in investing in the various sites in Bangalore.
- The upcoming of sub-standard projects;
You have been saving real hard, to get yourself the top project in Bangalore, and finally, you found out that you have invested your hard-earned money in a sub-standard project. This doubt had been created by builders who had either been using the lower grade raw material or coming up with add-on cost to be paid by the buyer disclosed at a later stage of the deal.
4. Un-approved Project’s Market becoming Strong;
A term called Pre-Approved is used without any second thought. Though nothing like the same exist in the real-estate market. Builders are using this term to sell the new projects in Bangalore and the end results come to buying an unapproved project in hand. Such bad experiences are restricting people to invest in the under construction projects in Bangalore.
- The Broker’s fees becoming Big;
A person is already paying a good amount of down payment, and on top of it, the broker’s fees are becoming big with every passing day. This is actually restricting people to invest in the projects in Bangalore, as no one wants to pay a commission of over a lakh on a project of 30 lakh to the broker.
- Under Construction Projects in the Northern Bangalore;
Deconstruction projects in some major areas in Northern Bangalore are really haunting the real estate industry in Bangalore. Some of these projects are a standstill for years and several clients are claiming back their invested amounts. People don’t mind going for buying property nearby Bangalore, as there are better-planned projects with a comparatively less price.
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