Owning a permanent shelter or purchasing a dream abode is the dream of everyone. Whatever be the reason for the investment in real estate, one has to take a few precautions before you zero down for a property. Real estate is an ocean and in this ocean you can find countless good players who offer several lucrative options. But among them, there are some who mislead the homebuyers with fake promises. Since it is a long term investment, one has to take necessary precautions to recognize a Credible Builder. Your selection of a property should be based on your preferences such as your budget, kinds of amenities as well as a credible builder.
1. Need to Choose a Credible Builder
Real estate is a gigantic industry and today, a sea of builders is swimming in this ocean of real estate to grab a share of this promising market. There are a few builders in this ocean who go for high promises but all these turn out to be fake ones. The prospective buyers with least knowledge of the real estate fall prey to such builders. We have often heard about deceit cases where the builder has crushed his own promises or has not made available the promised facilities or so on. Since it is a huge investment, one needs a proper research and guidance about the property as well as the builder.
No doubt, real estate has always been resilient and an investment here is considered to be a long term and safe, which at times, also provides a steady income. To get all the facts going as per your dream, it is necessary to choose a builder who has a good background in his field and who is recognized as a Credible Builder. Prior to your investment, it is essential for you to know more about your builder and also recognize him as a credible builder. Selection of a right builder is necessary because he will fulfil the desire of owning a dream house. A credible builder will help you get through this journey of owning a property, easily and legally. In this digital age, you just need to check the website of the builders whom you have shortlisted and get some more inquiries. A few points are mentioned below which can serve as tips to recognize a credible builder.
2. Tips to Recognize a Credible Builder
Before you select a property and narrow down on investment, it is essential to short list some builders and then finalise on one credible builder. Though it is a tough task to select one over the other, the given tips below will assist you to recognize and select a credible builder.
2.1. Go For a Research
This is the first and foremost task to recognize a credible builder. Once the city of your choice and the type of home you yearn for is decided, then you can begin your quest to recognize and find a credible builder in the city of your choice. It needs some research, but the digital age will make this task easy. List out the A Grade builders of that city and this can be easily done on the real estate portals. From here you can get the reputation and stability of those builders in the industry and then you can recognize and pick out one credible builder who can hold your hand in this journey of investment. Your online research will be a background check to find out if there was any buzz for your selected builder on the real estate portals.
2.2. Check Number of Ongoing and Completed Ventures
You can recognize the credibility of a builder with the number of ongoing and completed projects. With the completed projects, you can come to know about the timely deliveries of the builder, about the quality construction and the efficiency of the builder. The standard of the ongoing projects will also speak volumes about the builder. A number of ongoing projects declare that he is a credible builder and has sufficient funding and experience in the real estate sector.
2.3. Get Customer Testimonials
In addition to all your research to recognize a credible builder, you should also check for customer testimonials. The more the number of happy customers, the more credible is the builder. The testimonials speak about the quality of construction, the performance factor of the builder, time schedules and much more. It would be more informative if you could visit a venture of that builder which is already inhabited. You can check the quality of the construction at this venture. You can also see the standard of the interior and exterior work, parking and open green spaces including park and club area and other amenities. Here you get to know the first hand living experience from the residents; you will also come to know if they are facing any grievances. Word of mouth is very essential as it helps to recognize a credible builder.
2.4. Check Certifications and Builder should be Free From Legal Hassles
A builder, to be a credible one, should have all the certifications and approvals from the local authorities. A few certifications which make a builder credible are ISO, CRISIL etc, and he should also be a part of organizations like BAI and CREDAI. The availability of such certifications makes your investment worthwhile. The builder should not only possess the certifications but should also have the knowledge and understanding of all the certifications. If you are planning to invest in a Green building project, then the builder should possess a certificate from Indian Green Building Council (IGBC). He should have the liability insurance which helps to cover any immediate accidents or sort of injuries that might occur during construction. The project in which you plan to invest should be free from legal hassles and approved by nationalized banks. This helps in availing the home loans without much effort.
2.5. Hit the Last Nail
Once you have narrowed down on the research, chosen the project and recognized the credible builder, you can collect a copy of all approvals, legal clearance related to the project and the company from the builder. Don’t just depend on the fancy brochure, check the layout plans too. Take all fine precautions before you sign a contract because once a contract is signed, you will be liable to follow all the terms mentioned in the contract.
Written by
Kishore Reddy