Real Estate

It's high due to rapid urban development, the Unit Area Value (UAV) system, and higher property values, especially in prime zones. All these factors contributed to increased property taxes. The BBMP municipal corporation frequently revises rates based on zones, usage, and property type, which ultimately increases the tax burden.

To get an accurate house value, use professional appraisals, check online valuation tools, and compare recent sales of similar properties. Consider market trends, location quality, and property condition to ensure a smart long-term investment.

For consistent income, REITs are a good option for rent and potential value increases. Direct investment in property requires active management.

There are some other options like the Senior Citizen Saving Scheme (SCSS), debt mutual funds, and RBI bonds. Investment in rental property is also a good option that provides you with steady income. Government schemes like fixed deposits and the Post Office Monthly Income Scheme will all provide fixed returns and also be risk-free.

Both land and REITs have their strengths and weaknesses. Land is good for long-term wealth. However, it requires a significant investment and a high level of patience. But REITs offer you more liquidity and steady income.

So for your father, REITs are a more suitable and hassle-free option because of their liquidity and regular payouts.

To sell your commercial property, you must have the following documents:

Property title deed, Property tax receipts, Occupancy Certificate (OC) / Completion Certificate (CC) , No Objection Certificate (NOC) from bank which ensure that there is no existing loan or mortgage on your commercial property. Make sure all the documents are authentic.

To protect yourself, consider hiring a trusted real estate lawyer. Try to deal directly with verified buyers or through trustworthy agencies.

You can think about ITPL Main Road, Hope Farm Junction, or Kadugodi in Whitefield, depending on your tastes and budget. Additionally, Kaggadaspura and the Outer Ring Road are the best options for you in Marathalli.

Check this post to determine whether to choose an apartment or land: https://fincuss.com/topic/82/should-i-buy-a-property-or-a-flat/2?_=1730184450913

It is a great time to buying a property in Surat as there is a stable growth, which makes it a good time to invest in real estate as you have a stable income and savings. Its better to sell that old apartment as you are not going to live there in future. About your queries:

Buying a land means longer construction time, more involvement in the process, increased cost. But buying a new flat gives you a facility ready-to-move-in with less hassle. The real estate market is very dynamic. Waiting for a best property may be offers you great results but it may also mean missing up the best opportunities. Your financial status, market trends, property location, legal clearances, resale value, tax implications. These are some factors which you need to consider before buying property or flat.

Hi

For a real estate investment, you can explore tier-2 or tier-3 cities in Himachal Pradesh, Uttarakhand and Goa. Real estate may be volatile. You should diversify your investment for that you can investigate other possibilities like mutual funds, fixed deposits and even open a small business in your chosen location.

Fees you need to pay to buy a house:
Stamp Duty which is 5-7% of total property value. Then 1% registration fees of the property value. Some legal and handling fees are also there.
It's better to consult a property lawyer to understand all the possible costs.