Site Owners Forums - Webmaster Forums - Tips for real estate developer's credential verification..

Site Owners Forums - Webmaster Forums (http://siteownersforums.com/index.php)

- General Discussion (http://siteownersforums.com/forumdisplay.php?f=2)

- - Tips for real estate developer's credential verification.. (http://siteownersforums.com/showthread.php?t=155743)

Legal stuff is really important when one is buying a house and so all needs to be done on a proper level of laws so that no fraud takes place.

Quote:

Originally Posted by anu006 (Post 484716)

While buying a house, the biggest hurdle is checking the builder 's credentials.In the present market, not many developers have a record of delivering projects on time and fulfilling their promises.Even big developers are struggling to fi nish work on time. The situation is bad, especially in the Delhi National Capital Region(NCR) and the Mumbai Metropolitan Region (MMR), where the percentage of projects on schedule is 20 per cent and 15 per cent, respectively.While builders give a whole long list of reasons for these delays, in the end the burden is borne by buyers. So, it's up to them to do due diligence before buying. Following are some points to be remembered,

• COMPARE PAST RECORD WITH COMMITMENTS
• COLLECT INFORMATION ABOUT DEVELOPER'S FINANCIAL HEALTH
• DEVELOPER RATING
• CHECK IF BANKS ARE GIVING LOAN OR NOT
• VISIT PAST PROJECTS
• READ FINE PRINT OF THE CONTRACT CAREFULLY

Thanks for the information.

You can evaluate credibility and soundness of a builder by conducting due-diligence in following areas:
Real Estate Experience of Builder
Quality Orientation
Industry Recognitions & Awards
Delivery Track Record on Projects
Transparency & Customer Service
Financial Health