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Finding a real estate developer
10 Oct

By Balvinder Singh Kalra

Category: blog

Finding a Real Estate Developer with all the Right Credentials No Comments

Finding a Real Estate Developer with all the Right Credentials

Planning to buy a property or 3BHK Flat in Mohali? Then, don’t get driven blindly by the brochure claims. You need to perform a reality check on all builder resources as well as his competence.

Vetting on the builder’s credentials is the toughest task but it should be the first thing on your checklist. Most of the real estate developers in the market have no track record of fulfilling the promises or giving possession on time. In the current scenario, when the market is undergoing a financial crunch, knowing your builder or real estate developer is inevitable.

No matter what excuses or reasons the builder gives for the delays, it’s the buyers who have to bear the burden. The buyers need to be very diligent and smart enough to select the right real estate developer. This post covers some vital tips which will help the buyers find a real estate developer with all right credentials.

1.     Track Past Records and Commitments

If a real estate developer has never delivered any project on time, the chances would be the same this time as well. The first thing every buyer should enquire is about the experience and project delivery time of the builder. Cross-checking with the delivered projects will help the buyers getting clear information on the possession status.

Read More: CHANGING TRENDS- Buyer wants QUICK POSSESSION PROPERTIES

2.     Financial Health of the Developer

Enquire about the debt or cash flow levels of the real estate developer. Most of the time, builders use funds from one project in another project. They would have taken a bank loan for another project, so, the current project would be depicted as zero debt. This data is not available with anyone; the buyers need to enquire directly with the developer. Annual Balance sheets or their names on the stock exchange will help the buyer in getting a clear picture. If the project has a loan approval from a leading bank, then the project can be trusted.

3.     Complying with RERA Norms

A RERA registered real estate developer will make sure that the buyers know about this. Complying with RERA norms ensures that the entire project would be completed on time and would be charged as per the RERA protocols. This eliminates any chances of foul play.

4.     CREST Rating

A real estate builder with CREST or Crisil Real Estate Star Rating will help the buyers to strike a comparison between other similar projects in Tricity.  CREST is a city-specific rating based on several parameters such as quality constructions, clean titles, timely completion, etc. So, before buying any 3BHK Flat in Mohali, this parameter should be vetted.

5.     Contemporary Amenities

The buyers should have a closer look at the state of art amenities offered by the builder. An ideal developer will easily gauge the needs of a 3BHK apartment in Mohali and inculcate them in the project. Modern amenities such as two parking spaces, store, servant room, CCTV, lush green surroundings etc are a must-have in today’s scenario.

6.     Home Loan Sanctions

The bank easily grants a home loan for 3BHK in Mohali, if the builder is reputed and has an excellent track record. If the home loan grant is taking time, it’s time to re-think the decision.

7.     Online Help

The buyers should cross-check the internet with the developer’s online reputation. The reviews, feedbacks, comments on the social media pages or Google are very helpful in zeroing in the right developer. Before buying your dream 3BHK Flat in Mohali, the buyer must explore the internet for added satisfaction.

8.     Construction Quality

A genuine developer will share all the construction and fittings details with the buyers. If not, then the buyer should enquire about the construction material used along with fittings and accessories. A reputed 3BHK in Mohali developer will take help from professional teams for all works such as plumbing, AC fittings, wood-works, etc.

Read More: Importance of Hiring Professional Teams- Electrical, Plumbing, AC

For Canvas, all the details are mentioned on the official website to keep things transparent in front of buyers.

9.     Cross Check the Documents

Last, but not least, don’t get swayed away by the claims. The buyers should cross-check the RERA documents, blueprints of the construction, other quality certificates and NOCs.  Before signing the dotted line, the buyer must see and verify the documents himself.

Canvas at Wave Estate, sector 85 offers you dream homes. The independent floors of Canvas offer all contemporary amenities along with a separate servant room and a commodious store. It is the only project in the Tricity offering two car parking spaces.

With a reputed legacy, strong financial backing, outstanding track record, connoisseur project planning and clearance to all quality checks,   Canvas is leading the league.

Booking for the floors has already commenced. Grab this now or never deal today!

Call us at +91 97001 97007 for more assistance or mail us at info@canvasat85.com. To know more visit https://canvasat85.com/

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Balvinder Singh Kalra

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