This is a question posed to us more often than you think. And it is a very valid one. Friends and colleagues would like you to believe that the value of an apartment depreciates after a certain time and some are even of the opinion that it is better to rent a home than purchase it. This theory though has been debunked by the ongoing pandemic which taught us one of the greatest lessons that big or small; buy your own home where nobody can throw you out. Additionally, the depreciation factor does not come much into play when it is an apartment in electronic city as it is a high-value neighbourhood.
So, what is the truth? The truth is you can still get the maximum value out of your apartment if you verify the undivided share of land allocated to your apartment. Now, what is an undivided share of land? An undivided share of land is the individual share of land allocated to each buyer on which the apartment is situated.
When does this come in handy?
It is quite common knowledge that while the value of your apartment may depreciate after that long a time, the prices of the land will appreciate over time and offer substantial returns to you especially if it is an apartment in electronic city Bangalore. The reason behind this is it is an area that is growing by leaps and bounds and with the Namma Metro line coming up, the prices will shoot up even further.
The percentage of UDS allocated is extremely important when 30 years down the line your building may get demolished due to a natural calamity or reconstruction or come under a government acquisition project. The compensation that you get will depend on the percentage of your UDS.
An allocated car parking space is an added bonus as the UDS will become UDS calculated + car parking land in sq ft. Apart from these factors, the quality of construction has become much better due to which the average life span of the apartment has increased. Additionally, with proper maintenance, you can further extend it. Case in point is Sujan Singh Park, the famed 72-year-old apartment which is still going strong.
To conclude, the land value is something that would always appreciate and high-worth locations can alter the depreciation factor. It is worth considering buying a flat in electronic city as it is an area with a forever developing infrastructure and with the advent of builders like Mahendra Homes who use the best quality construction material possible, the lifespan of apartments has considerably increased. They are known for their high standards of quality and maintenance which is why they have become a name to reckon with. Considering the pros and cons, it would be a wise decision to invest in a residential flat in electronic city Bangalore built by reputed builders for whom quality precedes over everything else.