When you have made a decision to buy your own home, there are a lot of real estate agents, brokers, builders, friends and the family members who will give you their own opinions. Finally it is up to you to decide the parameters and specifications of your new home. However, this is the first step. The decision to go for a branded builder or any player in the housing sector is a major decision. Here’s a little checklist for you to help you along the way.
In case you are wondering as to why you should invest your savings using a brand that is going to a cost fortune, here are some of the reasons as to why you should:
1.The Invisible Trust:
While researching the real estate sector, you will realize that a few brand names make a frequent appearance on your computer screen. Besides, you can see such names on the billboards, in television ads, during the discussions at the social gathering and even in the newspapers. You may think that such brands have a lot of money for advertisements, but in reality they have been doing marvelous business which involves selling well constructed projects that are satisfactory to their customers. They are known to deliver quality projects that are highly valuable. Therefore they are trusted and hence stand safer bets.
2. No Foul Play:
There are very minimal chances of foul play when you buy houses from renowned builders, since they are normally transparent in their dealings. This implies that your investment will be secured. The price range of the renowned branded developer will be within a fixed range while in case of less known builder, their prices will seem lower at first but will have lots of hidden costs which will finally escalate the costs. Besides, a reputed builder always gives the promised carpeted area as well as the total built up area.
In going with a brand name, there are chances that you will get a property that is built on a dispute free land. On the other hand, dealing with an unknown builder will leave you with a lot of worries in your mind.
In order to reduce the worries, you can take time and ask the builder about the sanctioned plan and the IOD. The IOD involves a set of instructions that are needed by a developer in order to construct the project legally. Unknown builder may ignore the sanctioned plan.
You are required to ask the builders about the Commencement Certificate (CC) and the title papers. CC is required during the registration and the time of resale. A good builder will provide all these information. Moreover, a good builder will give you Occupancy Certificate (OC) and Khata on time. A khata is a very important document that records all the details about a given property. It comes hardly when it comes to the water connections, electricity, building license, trade and the availing of the bank loans during at the time of resale.
OC is another very vital document that is required for any apartment buyers. Brand builder will commit on the Khata and the OC in writing and will make it part of the sale agreement/Sale Deed.
Established builder will ensure that the payment schedule reflects the stages for the actual completion of your home. This may not be the case for the non-branded builders.
3.Home Loan Is Easily Available:
While buying a new home, one may have to apply for a home loan. When the builder is known, your loan gets sanctioned easily. This is due to the fact that the financial institutions know them very well and they trust them. They are aware that with such builders, the chances of fraud are minimal.
When the names such as ICICI bank, HDFC bank or SBI are associated with the builder, there are less chances of encountering malpractices in the long run. There are many cases where fraudulent builders have conned people. Therefore when buying a home, deal only with branded builders as the banks trust them and their schedule.
When you deal with branded builders, you can be assured that in many aspects such as the finishing, material used and the amenities will be as promised. They will also offer services at a fixed price range without compromising the quality of the services they offer. Thus, you won’t have to worry about the quality of the doors, windows or cabinets. They will study your needs and provide services that will satisfy your needs and interests.
5.There Are No Hidden Costs:
When you deal with renowned builders, you will not encounter hidden costs such as the legal fee, parking charges and in case they are there, you will know at the beginning.
6.Delivery On Time:
No matter what, a branded builder will tell you the date of acquisition of your property and deliver on time. This will give you a chance to eliminate the pre-EMI rates. The non-established builders may not be in a position to stick to their timelines.
7. High ROI Guaranteed:
Everyone eagerly awaits for their new homes to be ready like the pictures found in the builder’s brochure. Moving into the new house is the wish of everyone but what makes it an investment is the value of your new property. The location of your house is very important so as to double or triple the initial time after some time due to demand. A branded builder will consider this and you are guaranteed of great return on investment.
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