Guide for Residential Real Estate Investment in Bijapur

Bijapur officially called as Vijayapur houses numerous historical monuments, mausoleums, fortifications, and palaces that date back to the Adil shahi dynasty. This heritage city is not only historically significant but is ideal for living as well. It is a popular tourist spot as well. The place falls among the top ten best property destinations in Karnataka. 

The robust industrial boom clubbed with increasing job opportunities has made the place desirable for residential investment. In addition, this contemporary city contains a major road transport pivot and has prominent road and railway facilities. It also houses many educational institutions. 

The sections below highlight the lucrative prospects of investing in residential real estate in Bijapur.

Top Reasons to Invest in Residential Real Estate in Bijapur

Here are some of the salient pointers that will help you confirm investing in the residential real estate sector of Bijapur. 

  • Steady Growth of Real Estate Market in Bijapur

The most significant reason why investing in the residential real estate sector is worthwhile is that Karnataka has managed to gain stability alongside generating substantial profits from the homeowners. The state has attracted young generations to prosper in their career. Moreover, the availability of copious recreational opportunities and a favourable climate add to it.

  • High Returns on Investment

Bijapur and its outskirts are ideal investment choices for beginners in the real estate market. The higher rates of rental earning and appreciation rates make it suitable to invest in the real estate market. Moreover, the increased residential value will ensure high returns on investment.

  • Organised and improved intercity infrastructure

Overall public infrastructure and the availability of transportation facilities have a decisive impact on a place’s real estate sector. These facilities are now evolving in a robust manner in Southern India. Ease of commuting is a significant factor when it comes to investing in a real estate sector of a given place. In recent times, the improved transportation system in the city of Bijapur has made the place vastly appealing to investors.

In addition, the improved metro connectivity among all the south Indian cities has transformed and enhanced the way people used to commute earlier.

  • Land availability 

When compared to different parts of the country, property prices in South India are much more affordable, making it feasible for you to construct your dream abode. 

As the demand for residential complexes is on the rise, property developers in Bijapur are gearing up to match the demand and extend the best infrastructure to investors, making their investment worthy.

Also, the city has set low charges for operation base. This factor is one of the significant reasons why one wants to settle down in Bijapur and construct their spaces.

As per statistics, NRI investment in real estate Industry has been around USD 14.9 billion in 2021, and is anticipated to rise to USD 25 billion in the coming years. This is a significant portion of the investment which is going to be made in South India.

Investment Opportunities in Residential Real Estate in Bijapur

Before making an investment in Bijapur, you must be well acquainted with the locations that are ideal for 

  • Railway Station Area

One of the desired locations in Bijapur that is ideal for residential real estate investment is the railway station area. Well-connected railheads will ensure hassle-free commutation to the residents enabling them to reach out to different parts of the city. You can also find well-equipped hospitals and healthcare centres here which is perhaps a vital requirement. 

Also, the railway station area of Bijapur has witnessed exponential growth and has emerged as being a favourable residential hub. 

  • Adarsh Nagar

You can also consider Adarsh Nagar to construct your space. The availability of basic amenities and an enhanced transport system make the place a suitable location, prompting one to construct his or her own space.

  • Gangapuram Colony

Ganagapuram colony is also a notable property location in Bijapur where you can invest. Smooth connectivity and seamless transportation ensure that the property site is a pristine residential area. The locality of the place covers major social infrastructure at closer proximity. You can also access basic facilities like supermarkets, hospitals and educational institutions easily.

Things to Consider Before Investing in a Residential Property in Bijapur

There are certain parameters that must be considered before you go for investing in a residential property in Bijapur, to help you make an informed decision. 

  • Choose Proper Location 

Property location holds utmost importance while investing in residential real estate sector in any part of country. You must look for the availability of certain factors like infrastructural development of a place, easy accessibility to public transport, hospitals, and educational institutions while buying a property. Moreover, property location stirs the property’s worth. Hence, you must crosscheck the property location and availability of basic amenities before settling for one.  

  • Scrutinise Real Estate Developer’s Reputation

Before investing in a residential property, you should conduct thorough research of builders’ profiles. In this regard, visit developer’s website to acquire the necessary information by going through builders’ transaction histories. In addition, you can keep a check on the developer’s ongoing projects, note reviews and experience of other clients. Verifying developers’ profiles will help you to comprehend their credibility and make a safe investment.

  • RERA Authentication of the Property

The Real Estate Regularity Authority Act, 2016 was implemented to boost investment and secure the interest of potential homebuyers. It is important for homebuyers to review a property via RERA for enhanced transparency. Homebuyers can track the status of their project from the RERA website. It will also enable buyers to withdraw from a project and get a full refund if there are discrepancies in builder’s commitment and actual project.

In case you invest in a property that is not registered under RERA, you cannot reach out to any authority in case of any legal disputes. Hence, builders, brokers or developers must register properties by visiting the official Karnataka RERA website.

Stamp Duty and Registration Charges in Bijapur

Refer to the table to get acquainted with the stamp duty charges that you have to bear while acquiring a property in Bijapur.

Property ValueStamp Duty 
Property worth ranging between ₹21 lakh to ₹35 lakh3%
Below ₹20 lakh2%
More than ₹45 lakh5%

Let’s see the stamp duty rate that is categorised based on gender.

Category Stamp Duty
For Male, Female, Male + Female, Male + Male2% if property value is below ₹20 lakh3% for property value between ₹21 to ₹45 lakh5% for property worth above ₹45 lakh
Female + Female5% and 3% depending on the property value mentioned above

Here are the registration charges that will be charged when you will invest in a residential property in Bijapur:

Category Registration Charges
Male + Female 1%
Female + Female1%
Male + Male1%

Besides bearing stamp duty and registration charges, you also have to pay a surcharge on stamp duty.

Future Forecast of the Residential Real Estate Sector in Bijapur

As per recent data, it is anticipated that Indian real estate sales are going to reach USD 1 trillion by FY 2030, which will resultantly add 13% to the country’s GDP. The massive contributor among them is South India.

Bijapur is one such city in Karnataka that has a lot to offer to investors. It falls among one of the proposed smart cities from Karnataka owing to its high-functioning transportation system and availability of much-needed resources and amenities.  In addition, the city holds other smart city attributes like enhanced housing units, smart technology and better employment. An under-construction airport, Vijayapura Airport is going to be established in the city which will make transportation seamless in the coming days.

Technology hub, power surplus, industrial boom and sustained infrastructure investments in this city will fuel up investment in the residential real estate sector.

In the coming years, employment opportunities are going to scale up. Hence, it will prove beneficial for you to settle here. 

Comparison between Residential Real Estate vs Other Asset Classes

Here are some of the key differences between a residential property and other varied asset classes: 

  • Residential Real Estate vs. Commercial Real Estate 

Albeit commercial property extends higher returns, residential alternative proves to be more beneficial and manageable in the long run. For instance, it is easier to rent out a residential property than a commercial real estate. Moreover, reselling a residential property is comparatively more convenient than a commercial property. You also get to reap tax benefits while investing in residential real estate.

  • Residential Real Estate vs. Stocks and Mutual Funds

Mutual funds and stocks will enable you to earn higher returns, however, these investment options can prove to be risky being prone to higher volatility. If you want to dodge the risks associated with mutual funds and stocks alongside earning stable returns, investing in residential real estate will be ideal. 

Mutual funds expose your investment to the equity market and its volatility, where you have a chance to lose your money. 

  • Residential Real Estate vs. Gold 

Investment in gold can be done both short-term and long-term. However, it still extends lower returns as compared to return generated from long-term investment in residential real estate. In addition, gold is highly volatile and has a higher chance of getting stolen. Also, the price of gold keeps fluctuating.

  • Residential Real Estate vs Bonds

Both real estate investment and bonds prove to be robust passive income sources. While Bonds is a debt instrument that ensures more predictable earning, residential properties extend higher returns. Also, residential real estate can be easily rented and allow you to claim tax benefits.

Refer to the table below to see the brief comparison between residential real estate and other asset classes depending on volatility, returns, risks, liquidity and ticket price.

ParametersResidential Real EstateStocks & Mutual FundsGoldCommercial Real EstateBonds
LiquidityLow High High Low Moderate 
RiskLow High Low Low Moderate 
VolatilityLow High LowLow Low 
Ticket SizeHigh Varies LowHighVaries

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Steps to Invest in Residential Real Estate Property at Bijapur 

Here are the steps that will guide you to invest in a residential real property at Bijapur.

Step 1: First, calculate your finance and set up a budget before going ahead with the residential real estate investment plan.

Step 2: Shortlist some of the property sites of your choice and 

Step 3: Scrutinise the property by visiting the sites. Also, conduct a thorough online survey to acquire more information about the sites.

Step 4: Reach out to real estate experts and understand the future prospects of the shortlisted properties. It will also enable you to understand the prospects of the properties, thereby making an informed decision.

Step 5: After examining the RERA authenticity of the property, finalise a property. 

Step 6: Prepare legal documents and initiate payment for all the necessary charges like stamp duty and registration charges and shift the property ownership under your name. Also, ensure clearing payment for service charges to the real estate consultants and 

Step 7: Finally, avail of an insurance plan for the newly purchased residential property. 

Final Word

Bijapur is flourishing as a fulcrum for professional education. You will even find the first Women’s University and Sainik School here. In addition, the place is well-connected via roads and railways both strategically and geographically. However, before buying a property in Bijapur, you must be well acquainted with the ins and outs of the property sites and must ensure whether the property is registered under RERA.

Frequently Asked Questions

What is the nearest airport to Bijapur?

The nearest airport to Bijapur is Rajiv Gandhi International Airport in Hyderabad and Swami Vivekanand Airport in Raipur.

What is the major benefit of a residential real estate investment?

One of the major advantages of investing in residential real estate is it helps you generate stable cash flow. Even monthly rental earnings is a great source of passive earnings.

Which documents are required during residential real estate investment?

Here is the list of documents that must be kept handy while buying a property in Bijapur:

-KYC papers
-Encumbrance certificate
-Payment receipts
-Sale deed
-Possession letter
-Completion certificate
-Allotment letter
-Stamp duty and registration charges, payment proof etc.

Does Bijapur have its own railway station?

Yes, Bijapur houses its own railway station, Dantewada Railway Station, which is located at a distance of 2km from the main town which further adds to the commutation convenience.

Why was RERA implemented?

RERA, (Real Estate Regulatory Authority) was established to monitor and arbitrate any discrepancies that might crop up in real estate projects. It was meant to standardise carpet area which was not defined earlier and lower the risks of insolvency of a promoter or a builder.

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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The article may also contain information which are the personal views/opinions of the authors. The information contained in this article is for general, educational and awareness purposes only and is not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision, whether related to investment or otherwise, taken on the basis of this article.

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