When you’re considering buying a home, location and budget are two things that are usually in your mind. But having a builder on board is of extreme importance as well. The choice of the project or builder can often decide the quality of your stay at your new home.
It’s better to be informed before than to be sorry later. It is recommended that when you look at flats for sale in Mumbai, you conduct a comprehensive background check of the builder to make sure that your investment is secure.
Here are a couple of parameters that can help determine the credibility of your builder:
RERA Registration
According to the Real Estate (Regulation & Development) Act, 2016, it is obligatory for all developers and promoters to register under their respective state regulatory builder. RERA registration is regarded as one of the main attributes of a builder who is trustworthy. You must verify the builder’s RERA certificate to evaluate if an investment in their project is secure or not. A builder who is registered under RERA would all their information mentioned on the state’s RERA website that can be availed in the public domain for homebuyers to view.
Project Quality
Do make it a point to visit the completed projects of the real estate builder MMR. This will enable you to sense the quality of construction, the standard of the interior and exterior work, parking, and open & green spaces including facilities like rejuvenation areas, parks, and the club area. Try to get reviews from owners who are living there. If you’re planning to purchase a project currently under construction, do not blindly go by what the brochure claims.
Background Check
As a potential homebuyer, if you’re looking at the best properties MMR, it is critical that you conduct a thorough and comprehensive independent research via the internet by searching for any negative buzz around the builder on social media and online discussion forums. Moreover, do visit the official websites of every builder you have shortlisted to gain extensive knowledge about their project details, past delivery record, financials, and awards, among many others.
If you visit a completed and ready project where people are living, it would also help you to make the correct decision. You should also think about hiring an advocate who can carry out a complete verification check of the builder through banks, brokers, and builders’ association bodies.
Word of Mouth
This is one of the simplest ways to learn about the credibility of a real estate builder Mumbai. Talk to your friend circle or extended family members who have invested in projects recently and enquire about their experiences. In this way, you would understand the facts straight from the horse’s mouth.
Transparency
When you buy a new home, there needs to be absolutely no ambiguity pertaining to the covered area, super built-up area, and total built-up area. It is imperative that you always ask the builder to give you details regarding their previous projects, expenses incurred, and references you may contact, even if you have all the necessary data from other sources.
If you find any discrepancies in what has been reported, it needs to be seriously looked into and cross-checked. If the builder hesitates to fully respond to your queries or does not want to provide additional data, he/she is probably hiding something.
Keeping these parameters in mind, you may begin the process of looking for your dream home. IndexTap offers an extensive list of properties in MMR for you to peruse.
Visit IndexTap for more such exciting analysis and details on real estate.
