5 BHK Flats In Bangalore

Karnataka’s capital scripts financial abundance in the future, thus locals and wealthy Indians prefer luxury 5BHK flats in Bangalore as a top investment option.

Introduction to Rise in Demand for 5BHK Flats in Bangalore

The beckoning IT industry propels professionals to step into the disciplined city in Southern India. The incoming MNCs and other tech companies, act as a magnet for professionals aspiring to a higher success ratio. The continuous growth possibilities lead to surface requirements of the best 5BHK flats in Bangalore.

Bangalore rides high on discipline and employment opportunities. Thus, the State Government excels work at the infrastructure front leading the way to a hassle-free living experience.

Metro network expansion brought a paradigm shift in the city’s transport system. The new metro lines connect residential areas with several tech and IT parks, like the Outer Ring and Whitefield.

With seamless connectivity and proximity to the workplaces, there is a sudden rise in demand for the best 5BHK flats in Bangalore.

Documents Checklist to buy 5BHK Residential Flats in Bangalore

India’s first-ever Silicon City spells majestic nightlife and marketplaces to celebrate life. However, validation of paperwork is pivotal for buying 5BHK residential flats in Bangalore irrespective of whether you are a first-time buyer or an investor. Here are key things to consider as it curtails the lengthy home-buying process.

1. Sale Deed – The document exhibits an array of property ownership and clear title holders from past to present property title owner. Sale deed is an initial document prepared prior to the execution of sale agreement.
2. Sale and Purchase Agreement – It is an important document in the process of buying the best 5BHK apartments in Bangalore. The documents show an agreement of terms and conditions by the seller and buyer of the said residential property.
3. Sanction Plan – Also known as the approval plan, is the blueprint of the residential property you are investing in. Many times, buyers forget to ask for the same and land in trouble after acquiring property rights.
4. Possession Letter – It is a legal document to be prepared by the developer ascertaining the date of property possession.
5. Occupancy Certificate – With RERA overlooking property transactions, it is mandatory for developers to hold OC (Occupancy Certificate) from the RERA board.
6. Completion Certificate – Check with the developer for the same as the document certifies the alignment of the building with the norms set by the Real Estate Regulatory Authority. Thus, your investment will turn into a fortune cookie in the future.

Stamp Duty and Registration Fee | Things to Know about 5BHK Flats in Bangalore

Bangalore, Karnataka’s capital segregates 5BHK flats in Bangalore in BBMP, Municipal Corporation, and BDA limits. Based on these Stamp Duty and Registration Fees vary in India’s first tech city.

For residential apartments valued more than Rs. 45 lakh, you incur a Stamp Duty of 5%. The housing units range between Rs. 21 lakhs and Rs. 45 lakhs, buyer has to pay a 3% stamp duty. Similarly, a 2% Stamp duty is applicable on the purchase of an immovable asset below Rs. 20 lakh. However, the surcharge is applicable on residential properties falling under the jurisdiction of BBMP or BDA as an additional fee.

Also, the registration fee remains at 1% for all property-buying transactions in Bangalore

Explore popular 5BHK flats in Bangalore for sale and find your dream living address in the finest locality and your budget bracket.