Bangalore, the Silicon Valley of India, is the most sought-after destination for the country's job seekers. Every year, tens of thousands of individuals migrate to the city in search of a fulfilling career. As a result, the demand for residential Prestige Park Grove, Whitefield apartments in Bangalore is also increasing to accommodate this huge workforce. While the new residents usually choose to stay at a rented house, individuals with a stable job and higher income prefer to buy an apartment than rent one.

Freedom

A homeowner is the boss of his residence. He doesn't require anybody's permission for making any kind of alteration at his apartment. He enjoys greater privacy. Moreover, he can always go for that exotic piece of furniture or delicate crockery set without worrying that it will get damaged during home shifting, a normal phenomenon in the case of a rented apartment.

Stability

Home owners usually have fixed EMIs. Hence it becomes easier for them to plan out their other future expenses - be it children's education fee, daughter's wedding expenses or parents' treatment cost. Renters are generally clueless about how much they are going to pay few years down the line. Therefore, allotting a definite amount towards rent and planning other long term expenses around it, is not always possible for renters.

Appreciation

Land prices in Bangalore have been on a steady rise since early 2000s, resulting in appreciation in housing prices every year; sometimes manifolds. According to experts, over a ten year period, real estate has seen the highest scale of appreciation in comparison to any other class of investment. Hence buying an apartment in this city is a wise decision from an investment point of view too.

Tax Benefits

EMIs and property tax obligations are a homeowner's best friend during income tax filing in India, since both of these offer tangible tax benefit. The current housing loan interest deduction limit is extended up to INR 2,00,000 every year. However, the extent of the tax benefit one is eligible for is dependent on the income bracket one falls into and whether one has already occupied the house.

Retirement Income

Most of the Bangaloreans work in the private sector, which does not offer pension to its retired employees. Buying residential apartments in Bangalore in the early years of employment can go a long way in ascertaining steady flow of income during the post-retirement phase in their lives. The ever increasing home rent in the city makes owning an apartment meaningful, since the same can be put for renting purpose.