Investing or purchasing a new property is not an easy task. While a lot of research is needed during the complete property buying process; shortlisting a perfect developer is one of the most important and toughest jobs.
In the last few years many cases have emerged where property buyers have been duped by the builders. To tighten the noose, government has implemented RERA that has not only safeguarded the homebuyer’s rights but has also helped buyers to get a detailed background of the developer. This has helped a lot of property buyers in choosing and investing with the right developer.
Still, to have secure investment, it is advisable to all the property buyers to carry out a proper market research to get a brief detail of the background of the developer. Here are some handy and simple tips to choose a right developer:
Check the Construction Quality
This is an important tip that determines the credibility of the developer. Before purchasing, a prospective homebuyer must visit the completed projects by the developers. This will help in determining the construction quality of the project, standard of the interior and exterior, parking and green spaces and much more. You can also talk with the RWA of the project to understand more about the developer.
Background Check of the Builder
Today, internet has solution to all your problems. Do a proper research on the developer by reading reviews and news pieces related to the developer. You can get complete information about the developer and his projects on the RERA website too. Moreover, you can also hire an expert who can help you in providing details of the builder. If the builder is a part of any builder association, you can gather information from their too.
Ask for Referrals
As your friends, relatives or your colleagues who have invested in a particular property of the builder. They can give you a clear picture about the builder and the construction quality.
Before purchasing or investing, ensure that the builder has received all the mandatory approvals for the projects from the related authority. This enhances the credibility of a builder and also provides details that whether the builder is adhering to National Building Code (NBC) or not.
Today, RERA provide every minute detail about the developer, their past project, possession time, delivery time etc. You can check whether the builder has a good track record in terms of project delivery or not. If yes, then your investment is secure.
A right builder is one who never hides any information with the buyer. They must provide transparent information related to the project, residential units, carpet area, super built-up area, carpet area and total built-up area. If asked, the builder can also provide sufficient information related to their past project without any delay. This is another example of a perfect developer and will help a buyer to shortlist a right builder instantaneously.
Whether the project developed by builder have garnered positive reviews or the property price of the particular project have witnessed an appreciation, if that happened then you can easily rely on such developer.
Perhaps, this is one of the trickiest tip and important information that can easily help you in judging the right developer. This can be done with the help of a broker or a strong market research. If a project has high vacancy rates, then you must find out why people have left the units in a high percentage, the major reasons behind leaving the property etc.
Following all these above simple tips will help a property buyer in choosing a right developer.