House hunting adventures in Bangalore - 3 (Documentation)

Documentation is a very important part of the property you zero in on. 

1. Property related :
1. Check the documents thoroughly.Dont leave this to some two bit lawyer appointed by your agent. Be sure it is someone knowledgeable and indeed looks after your interest(preferably someone who is on YOUR payroll)
2. Akrama-Sakrama factor. This means there are building complexes that are built with an extra floor or extra villa etc other than what is in the original approved plan.  http://www.deccanherald.com/content/45737/ipl-2012.html Its quite convenient for Sellers to leave out this info under "Buyer Beware"
3. A Khata versus B khata. This is another factor that a good lawyer can give your details about how accurate your home papers are. http://basunivesh.wordpress.com/2012/05/16/difference-between-a-khata-and-b-khata-bangalore-property/
2. Bank Related :

1. If the Bank loan officer says the property papers are allright, dont just take their word for it. They are paid on commission for every loan they sign on and have been scammed for overlooking dubious papers. 
2. Most often than not the loan officer will ask you to "just sign" and they will do the rest. Easier said than done. but with so many forms to sign it gets difficult to read it. 
3. As one of the Bankers said, if we read everything on the terms and conditions, no sale would ever take place. 
4. So yes, its like that check box in most internet sites "I have read the terms and conditions" scary but somethings we just leave to fate!
5. The whole deal while working out a Bank loan involves a lot of paper work/details/copies/identity proof etc. Keep a set ready and handy all the time : copy and scan the following documents
• Passport copy of name/address proof
• Letter from your bank stating you live currently at so and so place
• Letter from your office stating your address
• Electricity bill from current place of residence
• Rental agreement
• Utilities bill
• Bank Statements
• Marriage certificate copy if required
• Keep the above for both the person in whose name the loan is being taken and the person who is an addon(example spouse)
3. Registration related :
1. While registering the property just remember that most of these government offices open at 1030-11:00ish for business. So unlike our banker and our agent who knew that the office would open so late, we were asked to turn up with the seller at 08:30a.m.! Quite an awkward place to be, esp since we are new to the act of registering but agents/Bank officers are not. One wonders why they add to the anxiety. 
2. Keep your identification details with you as you will have to show that while signing the agreement.(something your agent/banker might conveniently forget to inform)
3. Keep some cash on hand(10-20k or more as discussed with the agent) for "sundries" -dont expect a bill for it.

Good luck with the documentation. 

House hunting adventures in Bangalore - 2

In our search for our dream home, well we certainly saw a lot of places. Out of every 10 homes we saw in a fortnight, we probably liked 2. Dont despair, some people find a place and like it and sign it immediateley - Remember they are an exception and NOt the rule.


You might wonder if your agent have some quota of places he needs to show in a day and is that he is showing you a few crappy ones too. Be firm and state what you don't want to waste your time looking at stuff which is not in your criteria. 


As we dont have any HGTV in India, most apartments/houses are very very poorly staged. So its very important to like what you see because of what you think it can become in the future. Worst are places where current tenants maintain the home like a sewer!

1. A few homes we saw and liked had some super master bedrooms but a galley like kitchen. In our homes we dont have maids to do the cooking. It is a joint activity. So our Kitchen criteria was something with a lot of work space. Say in case two women-(imagine that) are in the kitchen.
2. Make a list of who all are going to stay in your apartment/house. If there are elderly, be sure NOT to choose too many split levels -as these are sure  traps for having a fall.
3. Ensure the bathrooms are well lit/roomy/dry and elderly/child friendly too. Not all guests/visitors leave bathrooms dry like you might want to, so ensure that is taken care of in the guest/common bathroom.
4. Look for places that dont require too much re-modelling. Sometimes one man's treasure is another man's trash. We were keen to buy an empty shell if the wood work was not up to the mark in most places. 
5. Remember that most sellers who bought their place for investment, and have tenants currently, would have compromised on the interior work with some cheap woodwork. 
6. Do a little home work around the society/gated community you are targeting. Are those sports/gym etc actually working? 
7. What is the cost of maintenance?(some places have a higher maintenance charge)Dont forget to factor that in, as it will add to your monthly expense along with your EMIs.
8. We made a mistake of making just some perfunctory queries thro our agent, who ill advised that some known tenant in the same property said "they had absolutely no problems". 
9. What we overlooked was the gym had stuff which was not working, a swimming pool that was redundant, water issues that were being addressed by the committee and so on..
10. Also a good idea is to figure out what are the rules of the committee,the charges etc. We for one had to struggle while doing up our interiors -as the rules of work timing/workers staying in property changed all the time. 
11. These are things that might have become clear had we introduced ourselves to the committee instead of the builder.
12. Find out the water situation, example we didnt know that after HAL there was no Kaveri drinking water. We have borewells that are treated with Reverse Osmosis.
13. Check the common areas and how they are maintained. 

There are pros and cons with large apartment complexes. 

1. Ask yourself if your kids need a larger play area, and more friends/people to hang out with - a larger apartment complex helps that. 
2. Imagine in a smaller complex if you didn't get along with your  US returned, always-complaining-about-everything-neighbours, well you are stuck aren't you ? But the flip side is its also cosy and you get to know everyone intimately(Maybe a con for some)
3. We zeroed in on an eco friendly building complex which was not ostentatious to look at, and had a very earthy feel to it. It also had fewer buildings/villas and thats why seemed less crowded. 
4. A smaller apartment complex is good if you dont want the crowd and the whole beehive look of the residential property. 
5. Selling and buying property in large complexes would be easier as they are differentiated on price and value addition done.
6. Larger complexes have a good supply demand of work force and prices can be kept optimum esp for domestic help, gardeners, car washers, dog walkers etc..Might not have the same luxury in smaller residential areas.
7. Do check proximity to markets, schools, public transport. Places that are away from the noise/well secluded have the issue of planning your outings/errands due to distance.

So choose whatever appeals to you and your family. Think long term. These are expensive decisions and cannot be changed overnight.  

House hunting adventures in Bangalore

It all started when we decided that it may be time to move into our own place after having lived in a rented accommodation for two years.

A few things we added to our "must have" and "nice to have" list.  

Must have list 

1. Right price within budget
2. Bearing in mind that my husband and in laws are quite tall,  a factor to be included i.e. higher ceilings. Some homes in Bangalore have low ceilings at the most inopportune  places
3. Another "must have" was Privacy. Rooms situated in such a way that there is enough privacy for everyone. 
4. We prefer rooms that are NOT dotting the living room, guests/visitors needn't know where every room is.
5. Good light/air
6. My family is quite loud, so hopefully no ground floor where one probably shouts out to each other, "where did you keep my purse" and so on..the neighbours hear everything. 
7. Also ground floor usually meant less light, or having curtains drawn all the time, another no no.
8. Proximity to place of work. 

The "nice to have list" was quite long as you can imagine. So I will leave that out now. 

Online searching and Agentinvolvement

The search criteria was set up in some of the realty portals : magic Bricks, 99acres.com,indiaproperty and so on.

While we did line up a few places from the search, having an agent or two on the task helps. Their network is way larger and they can line up more places to your liking on a specified day.

Our agent was an old time friend, so there are pluses(lots of hard work and personal involvement) and minuses in such a relationship - one that takes the other for granted 

1. Give your agent a Budget criteria. If your budget is say 30 Lakhs, be sure most Indian agents will start showing you places for Rs. 50 Lakhs. 
2. Most would say "your budget is not enough". It never is "enough" for them. Even at Rs. 2 Crores, agents are known to say they have only property for Rs. 4 Crores. Dont get swayed by it. 
3. The higher the budget, the higher their commission. Ideally most agents like working for big ticket budgets. But dont let that bother you. They are also sensing how far you will stretch your budget.
4. Stick to your budget. Imagine if you said your budget is 20L, your agent will start showing you something for 30L. Get the drift ? See a few. and then decide what is your actual budget and what you are NOT ready to budge from.
5. Fix your walk-away price after that, since you get a glimpse of what work the agent can do and what are the properties in his kitty. 

We took a good 6-8 months in our search. At times in a job market like ours, sometimes a possible long term overseas posting etc might put the brakes on your house search, so be transparent with your agent and seller about it.

A piece of advice while house/apartment hunting :

1. Check the property in daylight. Which rooms have enough light and air, would be easily visible.
2. Check for quality of doors and windows. These soon become big ticket items if you were change or repair everything
3. See walls for dampness or for water stains. Address Seepage problems with builder/seller if possible
4. Check floors for stains. possible water logging(example in balconies/bathrooms etc)
5. Quick check the plumbing. Are the flush/taps working
6. If there is wood work done, check for wood borer problems. if its an empty place even better. 
7. Check balconies to see if there is a proper sunshade or so to divert the water from rains. 

A good idea will be to sign some of these off with the seller/builder before closing a deal.

Remember you are a buyer/customer and therefore can make a few demands like asking the seller to include some stuff if required in the agreed price and so on. 

Watch out for sellers/and seller's agents who put on an act like they are doing you "a favour"(in case you come off as someone who loved the place too much) you might end up seeming needy and agreeing to most of the seller's demands! This is a buyer's market so please know you can push a little. 

A fact :

You will never know what a "good price" for a property is untill you check around enough to know what "VALUE" it has for you right now and in case you decide to upgrade and sell this in the future. 

Realty Bites

Every year as I move to another city, I end up with my two week struggle to find the perfect place..am i finicky ? well a little, am i a worrier ? well a little and yes i find hotels mildly depressing..Well its right in the middle of a new job(position) and then to find a place to stay..and communicate to the hungry shark like estate agents on my budget, which is just never enough for these agents..am always having to stretch..when my budget as a trainee was inr 2500 i had to stretch..or even when it was 10,000 i had to stretch, and u get the drift right ?

So yes, here i am looking for apartments in chennai...preferably not in an independent house, with the landlord staying below, who needs a nosy parker finding out your every move..and i certainly dont intend to make mild chit chat with anyone's wife, or aunt so thats out!

An apartment with good ventilation, and windows that dont open into the neighbours house would be great!..i tried www.99acres.com, or www.magicbricks.com where most of the advts were given by owners themselves, but the flip side the advts are atleast a month old so most places have been let out already..

I remember looking for a place when i was in Bangalore..the realty agent said the place was for 10000 negotiable so i was under the impression it would be available for inr 9000 + maintenance. Guess what, another agent comes in with an IT sector Boy. IT boy is getting married and needs to zero in on an apt soon. The landlord, greedily smacks his lips when he hears IT boy is from a well know IT firm in Bangalore. He says the apartment is for INR 15,000 but for you i will give it for 14,000, IT boy takes his offer. I am left a speechless spectator at what transpired. What was quoted as INR 10,000 negotiable was just sold at 14,000.wow! realty bites indeed..the good part of the story was that i went and found another place in Tippasandra which was a penthouse and an almost private terrace..was really lovely as an apartment..its so important to find a comfortable place to live in...

Then was Kolkata..where i was looking for a place just like my Bangalore one..and then i found it..when i walk in i just know this is my apartment..huge old windows, abundant greenery around, breeze which blows your curtains out, its was a lovely place in Alipore..Yes., i am lucky when it comes to getting the apartment of my choice..but the path to it can be a little annoying at times :)

So yes, i am now on the look out for a good apartment in chennai...thankfully my friend has been looking at places for me(bless him) this is just what i needed as i am really stressed out thinking i havent made much headway yet..in my first 3 days in the new position..

Am sure i will find the place of my choice as i usually do...