Read on to know how to choose a builder. Find
out the best way of selecting real estate developers
How To Choose A Builder
Builders and developers have played a pivotal role in the burgeoning Indian real estate industry. Besides the well-entrenched real estate giants, a number of smaller companies too have joined the fray in an effort to grab a share of this lucrative pie. In such a scenario, prospective buyers often get confused about choosing the best builder. They often choose the less experienced real estate developer and land in a series of unfortunate consequences, with respect to the construction of their dream home. After all, building a home is a major investment for the lifetime, and you would not want to take chances. With the tips given in the article, you will learn how to choose a builder.
Selecting Real Estate Developers
- Conduct a check on the background and reputation of the builder. For the purpose, you may consult people in your locality, who have availed the services of the builder in the recent past. Peruse the previous projects the builder has executed.
- Ask the builder a list of the addresses of his recently build homes and townships. This will help you learn the general idea of the builder, about constructing homes.
- If possible, try to get information from the occupants in his previous projects. By doing so, you would be able to know many things about the project, such as the timeliness or delay in its completion, quality of construction, compliance with the agreement, amenities provided by the builder etc.
- In case you get to visit a sample flat constructed by the builder, then carefully examine the features of the home. If it is fully furnished, then take a look at the quality of the cabinetry, carpeting, paint etc. In case if it is not furnished, then consider the dimensions of the rooms (their size and shape) as well as their placement.
- Make a careful examination of the prices quoted by the builder. Find out if there are discrepancies between what is being promised in the brochures and what is actually on the ground. It is always better to purchase a built flat than one, which is yet to be built.
- Ask for the sanctioned plan of the project. You must ensure that the project has been fully approved by the concerned authorities of the Government.
- Ask whether the project is rated by a credit rating agency like CRISIL, ICRA or CARE. ISO 9000+ certified companies usually offer good quality services and products. Check if your builder's firm is an ISO certified company.
- Ensure that the builder has obtained a 'completion certificate' and an 'occupancy certificate'. This is the proof of compliance with all local municipal regulations. Without this, you could get into trouble at a later date.
- Speak to as many people as possible, about the builder and the project, before signing the cheque.