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The rising cost of inflation and the rapid uptrend in real estate prices have changed the property market in Bangalore. In the last decade alone, the average price of an …

The rising cost of inflation and the rapid uptrend in real estate prices have changed the
property market in Bangalore. In the last decade alone, the average price of an
apartment/plot has surged by over 100 percent with some locations witnessing an
astronomical increase.
Keeping this in mind, let’s take a look at why buying a home in Bangalore is better than
renting one.

You Get an Affordable Home

Ever since metro rail connectivity arrived, real estate prices have found a new impetus to
grow exponentially. Neighborhoods that are near metro stations have seen prices skyrocket
over the last decade. The same will hold true for regions where metro rail is already
proposed and in the works.

You Save on Rent

The average cost of a 2BHK home in upper-middle-class neighborhoods along the IT
corridors typically ranges upwards of INR 20,000 per month, exclusive of monthly
maintenance. This outlay is permanent and one you won’t get back. If you rent a house for a
year, you are shelling out INR 2,40,000 per annum. Add the standard 5% increase in rent to
the picture, and the rent for the second year increases to INR 2,52,000 per annum.
If you can save them money, what constitutes two years worth of rent can serve as a
downpayment for a decent 2 BHK apartment within the city limits.

You Get an Asset of Your Own

When you buy a home in Bangalore, you will officially be the owner of property in the
fastest-growing cities of the world. This also gives you an asset that you can call your own
and be proud of. Another benefit is you can use the house as a hedge to make further
investments or take loans in case of capital requirement

You Get Tax Benefits

Let’s face it, nobody likes seeing lakhs of their salary going into taxes. Getting a home will
change that for you. Here’s a list of all the benefits you can get on a home loan.

Section Deduction Details
80C INR 1.5 lakh On loan principal. Also
inclusive of stamp duty
charges
24b INR 2 lakh On interest paid
80EEA INR 1.5 lakh On interest paid provided
the stamp value is above
INR 45 lakh
80 EE INR 50,000 On interest if the property is less than INR 35 lakh and does not exceed INR 50 lakh

Are you searching for the best time to buy a house? The best time is Now! And, look no
further than 5 Elements Realty. We have dozens of tastefully designed projects across
Bangalore, available at affordable prices with connectivity to the tech hubs and key business
districts.
Visit our office at 303, Brigade Corner 110/73, 560 082, Kanakapura Rd, 7th Block, Jayanagar,
Bengaluru, Karnataka 560070, now and get busy choosing a house that suits your every
need.

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