Buying your Dream home is indeed a celebratory milestone in your life. Why wouldn’t you commemorate the joyous occasion of gifting you and your family great real-estate in the best part of the city, a place you can call home. Well for many the dream is to have a well-settled and welcoming abode, that reflects their personality.
But starting out can be daunting. Not everyone is clued into the real estate market to make well-informed decisions about how to invest and where. Resultantly, due to unethical brokers out to make a quick buck, people are stuck with sub-standard dwellings, and the house of their dreams becomes the dwelling of their nightmares. It can all go wrong right at the beginning when you choose the incorrect Developer that you want to invest with.
There are a number of other reasons why you should choose the developer carefully.
1. Ethics in building materials:- A Reputed builder or developer will source only the best for his buildings. The developer will not cut costs to ensure his profit since he knows that any potential disaster will bear heavily on his brand name and company goodwill in the eyes of his customers. And once an impression is lost, it never comes back.
2. Clearances and permits:- A reputed developer will have all necessary clearances from municipal authorities and government bodies. Hopefully, no permit issues will arise once you have occupied your dream home. There are a number of little things like construction permits, building height limits, etc, that developers need to adhere to. A reputed one will always ensure he abides by the rules.
3. Important associations:- A reputed developer will always be a member of some industry association, like the Confederation of Real Estate Developers Association of India (CREDAI), or the Builder’s Association of India (BAI). These are in a way, self-regulatory bodies that establish strict rules for builders and any deviation may lead to a company being blacklisted.
4. Realty Ratings:- The CRISIL Real Estate Star Ratings (CREST), provide a city-specific assessment of real estate projects and can help with the comparison of quality projects within a specific city. A reputed builder will be registered with CRISIL, to get rated and have his projects listed there.
5. Financial Stability:- A good developer will have a stable company, without it being over-leveraged. Get hold of the company’s balance sheet, and see whether the business is in bad debt, or the numbers and figures don’t add up correctly.
Well, when you do decide to invest in your dream home, remember to choose the best property dealers in Bangalore. For example, if you are looking at purchasing a 3BHK flat on Kanakapura road, do research about the various developers that have projects in the region. Going over every minute detail is very important. After all, it is the decision of your home and your lifetime!
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