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Old 06-25-2015, 10:33 AM   #1
anu006
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Tips for real estate developer's credential verification..
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
Last edited by anu006; 06-25-2015 at 02:57 PM..
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Old 06-25-2015, 12:21 PM   #2
shub141989aga
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thanks for sharing nice & valuable info..this is going to help new investors..
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Old 06-26-2015, 06:05 AM   #3
karthikkora
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Quote:
Originally Posted by anu006 View Post
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 points mentioned
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Old 06-27-2015, 12:00 AM   #4
tejaas
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Quote:
Originally Posted by anu006 View Post
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
thats a very valuable post,
thanks!!
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Old 06-27-2015, 04:23 AM   #5
jyoti_singh
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Quote:
Originally Posted by anu006 View Post
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...
Buyers should always check the duration in which the past projects were completed to have an idea of whether the developers have the capacity to complete the project on time or not.
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Old 06-30-2015, 03:25 AM   #6
tejaas
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Originally Posted by anu006 View Post
..... 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.......
there are bound to be delays in completion of projects,
but there have been cases where the developers have made sure that the customers who have invested in them are not faced by any burdens and they do compensate for such.
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Old 07-02-2015, 04:14 AM   #7
Percy Hanley
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I really appreciate you for sharing this sort of useful knowledge with us. It's really good for buyers who want to interested in huge investments.
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Old 07-06-2015, 12:00 AM   #8
tejaas
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How to Buy Without an Agent

Search
Find an Attorney
View Homes
Get Pre-Approved
Make & Negotiate an Offer
Deal with Inspections and Appraisals
Close the Deal
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Old 07-14-2015, 04:44 AM   #9
LokeshKumar
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Quote:
Originally Posted by anu006 View Post
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
Valuable information what you have shared. Thank you...
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Old 07-14-2015, 11:36 PM   #10
tejaas
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if i am not mistaken,
I read somewhere that when taking a home loan, the bank does a background check for the builders reputation and ratings along with the customers to ascertain their authenticity.
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Old 07-29-2015, 05:25 AM   #11
raamcruise
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just a minor verification,jus to check if the assets really exists or not,generally bank keeps the property documents as a security
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Old 08-08-2015, 02:09 AM   #12
rajsingh
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You have to check about the existance of everything.
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Old 08-10-2015, 11:46 PM   #13
Pappu Paul
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Before investing check the document very nicely
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Old 08-19-2015, 03:37 AM   #14
Himanshu Basu
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Thanks for the information.
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Old 08-20-2015, 05:16 AM   #15
Himanshu Basu
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Legally all should be checked at first and then only one should go forward. Its better that way.
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