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The article discusses about the increasing rental values in Bangalore and the things, which the prospective tenants look out before finalizing a property. Read on to explore in details.
An increasing trend in the metropolitan cities is to stay in the rented apartments. It is a good alternative for those who need accommodation for a long time and do not wish to invest in properties. From the economic point of view, it can be very convenient for a family, and usually several people charged by a single rental price. Renting in the metropolitan cities like Bangalore, also allows you to see the city differently and feel local. Besides, rentals are the best way to earn quick returns on your property. This is the reason why your property search and the decision to put it on rent should depend on three factors, which are location, location and location!
It may seem like buying a flat for rent in Bangalore is a good deal and it is. Buying houses for rent can represent long-term gains, especially now that the demand for rentals is increasing. Even with the passage of time can achieve cover all expenses of the property and you about money, that is not the reality for many homeowners in the early years.
Between paying the mortgage, taxes, maintenance and any unforeseen expense, there is a good amount of money. You also have to think about what happens if the tenants do not pay rent on time, there is always a possibility. You see, although there are advantages, the buy house to rent is a big responsibility. Therefore, it is important to know what your expenses and also other responsibilities that come together with owning a home as well.
No matter if you are planning to invest in an apartment or plot, location is the most significant factor to determine if the investments can fetch you great returns on investments. The growing real estate sector ensures that the returns on the rental amounts are higher if you wisely select location.
The tenants particularly look out for things like proximity to social infrastructure, public transport networks and lifestyle.
Facilities like 24 x 7 multilevel security, individual parking, play zones for kids, gymnasiums, swimming pool, and other recreational and entertainment options. Closeness to the shopping zones and excellent connectivity are also things that matter. Individual homes, which offer parking, ample water supply, interiors with all amenities and a good location, are the most important criteria for those who take houses for rent.
Gated communities have been the very popular options as the rented accommodations as they offer superior quality lifestyle and higher levels of security. The type of property and the reputation of the builder play a key role to determine the best rental returns.
Infrastructure plays a very important role in fetching high rentals. In localities like Byappanahalli, Ramamurthy Nagar, and Indiranagar, the rentals experienced a decent high after the onset of Metro Rail operations, and the similar hike in the rentals will be witnessed with the expansion of the metro network in its later phases.
Localities around the Outer Ring Road (ORR) witnessed the maximum inflow of the tenants. International and domestic airport localities are other corridors for residential development. Some of the localities like hebbal, Bellary Road, Yelahanka and localities around NH 7 have ensured the rapid progress of infrastructural projects. Neo Bangalore is the newly developed township, which is witnessing some remarkable infrastructural developments. The wide and cleaner roads and the planed societies add to the real estate value of Neo Bangalore.
This Post written by Rashmi Karan is a professional writer who writes about the realty industry of India and focuses on offering location-specific information about the cities. She also offers solutions for the real estate related queries.