Check The Builders Reputation Before Buying A Property In India

  • Added:
    May 22, 2014
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    914
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Check The Builders Reputation Before Buying A Property In India Photo by Umov  Mehta

Buying a luxurious classy property in India may seem like a simple task. Thanks to the flashy commercials and hoardings posted by real estate developers that promise easy EMI's and low interest loan rates at the most affluent places. While some developers stay true to their promise and provide all the amenities they state in their brochures, others simply deceive their customers with false statements. The best way to avoid being a victim, is by analyzing your needs and doing a background check on the property you wish to invest. If you are serious about making an investment, then the first thing you need to do is to check the credibility of the builder.

Many assume that doing a background check on real estate projects and developers is difficult, as it requires some real-estate knowledge. However the truth is that you just need the time and patience to research. A quick internet search will provide insights on the company and the project developer. The customer forum is also a good source to get the require details. Though online research may seem sufficient, it is always better to go in for a field research, as it helps gather accurate details of a property. Talking to other buyers and local brokers also helps in understanding the property rates in Mumbai and estimating the potential growth rate of the asset in terms of pricing.

It is always safe to choose an experienced builder than a newbie, as they are more likely to follow the rules and regulations, and have a professional approach towards dealing with properties for sale. Reputed builders are often a part of industry associations like the Builder's Association of India and Confederation of Real Estate Developers Association of India. If the builder of your desired project is a part of such an association, then you don't need to worry about fraudulent acts or mishaps, as the regulatory bodies always have a watch on the performance of their members. The builder you choose should also have an ISO 9001:2008 certificate.

There are several websites in India that provide details on upcoming projects in Mumbai and other major cities. These not only provide information on the pricing and the availability but also on the developers of the projects. With star ratings and city specific analysis, these websites compare the housing projects using several parameters. While these sites help in acquiring relevant information and analyzing the credibility of the builder, only those companies that are registered with the site are  accessible. The builder you choose should personally show enthusiasm in answering your queries, if they hesitate then you should think about investing in some other project. Remember property investments are huge. So don't settle for anything that seems less to you.

 

Umov Mehta is a renowned real estate expert at one of the largest websites for property in India. His work is appreciated by top professionals in the industry.

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http://www.umoveindia.com/services.php


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