How to choose the right developer?

A home is something that is dreamt by everyone. Most of us purchase a home once in a lifetime and some of us are not even able to do the same. There are lot many emotions and dreams attached with owning a home. But it is not easy as it seems to be as it involves financial as well as proper planning. You need to do a lot of research to shortlist the right developer as it is the most important and hardest task involved in property buying.  

When there are so many of things involved and at stake it becomes crucial for the home buyers to choose the right builder even before selecting the project where the risk to property minimizes.    

The trust level of homebuyers on developers have lost as in the last few years there were many cases reported against the developers as they were incapable to deliver the project. This created havoc in the minds of home buyers as their hard earned money and savings were in danger. To prevent this, Government bought the RERA that came as the savior for the buyers rights. This has helped a lot of property buyers in choosing and investing with the right developer.  

Still, to remain on the safer side and make your investment fruitful, it is suggested to all the buyers to go for a proper market research to get the complete details about the developer.

Here are some of the key points that you need to know to choose the right developer:

1. Know about the background of the developer

Today, internet is the key for almost everything. The very first step is to know about the developer’s reputation. Builder’s website, reviews, news related to developer, visit to project sites, etc… can help in a detailed knowledge about the developer. RERA website too can help in getting the information about the developer and his projects. Another way is to hire an expert or real estate consultant who can guide you better and in detail.

• Check the Construction Quality

Be a smart buyer; take out time to visit the delivered projects by the developer. A check of the construction quality like the standard of interiors and exteriors, parking space, open green area and much more can be determined only through looking into the past completed projects. This is vital in estimating the credibility of the developer.    

RWA (Residents Welfare Association) can also help you in this. It is suggested to see for any quality certifications received by the developer.

• Ask for Referrals

Referrals act as an important point, you can ask your friends, colleagues, relatives who have invested in any project of that builder. They can give you a better and a clear picture about the builder and their quality.

• Plan Approval

Before you make the final decision of purchasing or investing, do ensure that the developer has all the necessary approvals for the project from the legal authorities. The approvals help in knowing the authenticity and whether the builder is following the National Building Code (NBC) or not.

• Timely Delivery

1^st May, 2017 the implementation date of RERA provide every little detail about the builder and its project, their past deliveries, possession date, etc… In case the track record of the developer is good then your investment is secure. Government’s policy of RERA has helped and has come out as rescuer for the home seekers.  

• Transparency in Information

More the transparency… More the trust…

A right builder will always reveal all the information related to the project, residential units, carpet area, super built-up area, carpet area, total built-up area and other hidden charges. More the transparency in information, more reliable the builder will be and it will help in shortlisting the right builder.

• Project Appreciation

If the project developed by the builder has received positive reviews or the property prices have appreciated then, you can rely on the developer. Project appreciation can specify the trustworthiness and credibility of the builder. 

All the above mentioned simple tips will surely help you in choosing the right developer.