How to evaluate a real estate developer?
The finalising of a deal for buying home or flat should be a well-researched and thoughtful process as you will be investing your hard-earned money into it. But, before signing on the dotted lines, evaluation of the concerned real estate developer on all the parameters should be a mandatory task. However difficult the process may turn out to be, a thorough inspection will hold you in good stead in the long run. Even if you are buying apartments in Kolkata at affordable rate, this process shouldn’t be ignored.
- Checking the background of the real estate developer is the most important part of the evaluation process. Buyers should always be aware of the name of the developer. His goodwill in the market, stability and active presence in the industry are matters of concern that you must focus on. Brand value itself speaks a lot about the developer concerned.
- When you have planned to buy apartments in Kolkata from any developer, you must also be aware of his past records, the number of projects he has done before and verify them properly. The past record of the developer will speak for its authenticity. A quality check of the past projects can also give an insight into the type of quality and project he will deliver at the time of possession.
- A legal expert can help you check if the developer has all the necessary approvals and is following the building codes in his projects. Get hold of a reputed lawyer who will help in the process of the verification of the developer’s past records and will also help in all the legal works in your case.
- It is important to check the financial position of a developer and how he manages his funds. His source of funds should not directly be affected by market sentiments. Timely completion and delivery of his projects are also affected due to his financial position.
- Buyers should also consider the reviews from past customers of the same developer. Their guarantee can be the most important official statement that would help in the further process when you buy the home.