Buying a property is probably the most important financial investment in your life and you cannot just put the money into any property they sell. Knowing the builder of your home or property investment is as important as finding the right location or facilities.
A lot of people only know about a few major builders and are skeptical about properties launched by any other builder. However, a number of builders in Delhi/NCR are now coming up with some wonderful residential and commercial projects and building trust in the market.
So, if you are wondering how to judge real estate builders, here are a few parameters on which you can evaluate them.
We understand that as a customer who is investing his hard-earned money, it is very difficult to trust a builder who has no properties in his portfolio.
This is why running a background check for the builder is very important. You should do your own research to find out about:
- The brand value of the builder in the market
- The builder’s goodwill in the industry
- Financial position and fund management during the crisis
Nothing speaks better for the developer than his own previous work. Look for successfully completed projects and their popularity in the market.
You need to judge the past projects of the builder on the following fronts:
- Quality of the construction
- Possession timeline
- Satisfaction level of the current owners
- Availability of the amenities and facilities as promised
- Whether the builder has delivered what was committed
When you go to buy a property, you are asked to undergo a myriad of paperwork and provide multiple documents.
You, as a customer, also have equal rights to ask the same from the builder.
Best Developers in India have to get multiple approvals from the government for building a project and if your builder has all such paperwork in place, you can rest assured that the company is functioning legally.
If you do not want to get into this trouble, you can also hire a legal consultant.
The status of your property and the builder are also important aspects of financing a property purchase.
A bank or NBFC will grant loans only if it is completely satisfied with the property so before you choose a builder, it is better to do a little research in this respect.
Some builders partner with a bank to make financing easier for the buyers. If this is the case, the builder is most likely trustworthy.
Apart from these, there are some more things to justify a builder with respect to a particular project. You should try to understand the vision of the builder in developing a project and what value he seeks to add to society.
For example, whether the builder has thought about the convenience of the owners as a factor, what are his views about the nearby facilities, and what he wishes to give as a final product.
It is always good to think analytically so that your money is safe but, when you choose a builder, you should also believe in their vision- what they have planned for you.
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