Expert Tips to Check a Builder’s Reputation
Investment in real estate is a big deal. It is about making one of the biggest investments of your lifetime. Real estate investment has attained a lot of popularity in the past many years. However, it is crucial to understand a few things prior to making an investment. The most important thing is to investigate about background and history of the builder. flats in delhi ncr
Listed below are some of the best ways to check a builder reputation:
1. Quick Background Report
You need to start off with a quick online research of the builder and/or the company name. Google and look for the details on various customer forums, websites related to property, blogs, and news reports, etc. You will get a lot of information online. Apart from an online search, you need to do some field research too. It is best to speak to individuals (both known and unknown to you) who bought 3 bhk flat in Indirapuram or homes from the builder’s old projects. Present market price of the past projects as compared to those built by other builders will help you know a lot about standing of the builder you wish to choose. Last but not the least, check out the credentials of contractors associated with property project.
2. Past Record
Refrain from buying a property without checking past record of the builder. An experienced builder holding expertise in the market and a decent delivery record will be the ideal choice. These builders have a professional approach. You should also check his track record. Research on how well the past projects did, the time taken for completion, and much more. If you notice lack of transparency, simply refuse to buy from the builder. It is good if the builder you wish to choose is or will be a member of an industry association. These are actually self-regulatory bodies following very strict norms for builders. They will give unbiased and true ratings for builders. property in delhi ncr
3. Financial Stability
Do not make a deal with a company that is overleveraged or is in a heavy debt. They may be unable to repay loan and the project gets strike off. Hence, it is better to check beforehand. Some reputed builders such as Rishabh Group create a separate page for financial details on their websites. You simply need to check out the page on various websites.
4. Ratings are Important
Certain organizations across the country of provide city detailed assessment of real estate projects. These companies help buyers compare various projects as per requirements, budget and quality. Many of these organizations also have a ratings list for developers. They rate developer on varied parameters including:
– Decent track record of transfer of clean title
– Maintenance of legal and construction standards
– Timely completion of project
However, only builders registered to these companies are rated. For non-registered companies, look for reviews from customers and their track records online. real estate companies in delhi ncr
5. Certificate for Quality
It is important to reach out to an ISO 9001:2008 audited and certified builder. Principles of 9001:2008 certification of the International Organization for Standardization for a quality management arrangement revolve around complete customer focus and satisfaction. Hence, a certified builder can be trusted for a professional approach. So make sure you check for this certificate for quality prior to making an investment on a property or a housing project.
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