Even though the real estate sector is growing by leaps and bounds, one must know that there are many unprofessional builders/developers in this business. It makes sense to find an appropriate developer or builder and here are some great pointers to help you make this process easier.
In the past 10 years, the rise of urbanization, nuclear families, and growth in household income has contributed to the growth of the real estate sector. The rise in this sector has attracted many big and small real estate companies in India to cash in on the opportunity for making money. And this has made it more challenging for potential home buyers to choose a good builder.
Since buying a home is a lifetime investment, and so you can’t afford to bear loss! Performing prior research to choose the right developer is rewarding. Here are some great pointers you must go through before hiring a real estate developer.
BACKGROUND CHECK-
Inquiring about the developers should be your first and essential step to finding a reliable developer. The more you know about, the better you’ll get an idea of their services.
• Conduct online research about their background and reputation or you can even enquire about the existing customers about the company.
• Visit the company’s website to know more about the company portfolio, partners, associates, and history.
• To know them better, you can also visit their ongoing sites and check their layout, upkeep, and building quality.
• Seek advice from the owner of that project about service standards and reliability.
QUALITY CHECK-
The construction quality of a builder says a lot about the company. If a developer gives equal importance to everything, right from layout planning to building and finishing quality, it’s more likely that their future built-ups too would have the same level of durability. Cross-Check if the developer utilizes the latest construction technology and has quality certifications or ratings for its projects.
CREDIBILITY CHECK-
Properly verify the contract before coming to a decision. It is also recommended to check how genuine the property is if you ever wish to sell the property in the future.
Make sure to look up hidden costs, places to sign, and promises like “The clubhouse will be ready in a month” or “You’ll have 24*7 security but you have to pay a token amount, usually all this comes with a hidden cost.
This is why choosing real estate companies in India is, therefore, an important journey that either leaves behind unpleasant memories or good ones.
DOCUMENTATION CHECK-
Since real estate is plagued by liquidity problems, developers end up with project deterioration, low sales volume, and a drop in demand. You should be extra careful with that. Make sure the developer has provided you all documents in relation to authority, land title, approvals, construction commencement, building plan, and other information. You can consult specialized lawyers and take their help to understand the terms & conditions and the fine print. Whether it’s a big construction firm or small builder make sure you get your documentation done.
In real estate, what you see is what you believe. Hence, do some legal work and explore all the available options and, in turn, find the right property developer for you.
