Tips to Make Sure that the Project you are Investing does not Get Stalled or Delayed Infinitely
Nov 29, 2019 Home Trading Steps
Even with the bad reputation of the under-construction projects with their delays and some of them getting stalled, the demand for under-construction properties is still higher. The feeling of being the first occupant of the newly constructed home is unmatched.
According to the reports for the second quarter of FY20, 73 percent of people preferred under-construction properties in the NCR region while 83 percent preferred the same in Mumbai despite the mounting cases of project delays and builders going bankrupt.
If you are looking to invest in the under-construction property make sure that you tread the water carefully to make sure your investment doesn’t go sour and you get the fair value of the money you invest in.
The best brand in town: Most builders and companies spend a fortune on advertising and making false promises. Don’t’ fall for all the advertisements but do heck their track record. Builder with the best record of completing the project on time and delivering it as promised is the one a homebuyer should be looking at. One can always find reviews online for the projects that they offer. It is an excellent way to understand the credibility of the builder.
Background research: When You choose a project, look at the location and the neighbourhood. There are chances that a project that harms the environment can be scrapped at any stage of the construction. A builder can buy the land near a reservoir or a bird sanctuary, but later as a threat to the environment, the authorities can scrape the project. It is the responsibility of the home buyer to make sure that the project they are investing in is in the permissible zone and what is the future of the locality where the project is being constructed.
Small projects can be a good idea: Most People go for big projects and even though half the price of the project is because of the reputation of the builder. The bigger the project, the higher the cost. There’s no harm in going for smaller projects. Smaller projects mean that the builder will have enough money to finish the project on time without delays. The price will be accessible on the pocket, and the home buyer will not have to wait forever to get the occupancy of the unit.
It is advised to the homebuyers to make sure that the project they are opting for is registered with the RERA of your state.
According to the reports for the second quarter of FY20, 73 percent of people preferred under-construction properties in the NCR region while 83 percent preferred the same in Mumbai despite the mounting cases of project delays and builders going bankrupt.
If you are looking to invest in the under-construction property make sure that you tread the water carefully to make sure your investment doesn’t go sour and you get the fair value of the money you invest in.
The best brand in town: Most builders and companies spend a fortune on advertising and making false promises. Don’t’ fall for all the advertisements but do heck their track record. Builder with the best record of completing the project on time and delivering it as promised is the one a homebuyer should be looking at. One can always find reviews online for the projects that they offer. It is an excellent way to understand the credibility of the builder.
Background research: When You choose a project, look at the location and the neighbourhood. There are chances that a project that harms the environment can be scrapped at any stage of the construction. A builder can buy the land near a reservoir or a bird sanctuary, but later as a threat to the environment, the authorities can scrape the project. It is the responsibility of the home buyer to make sure that the project they are investing in is in the permissible zone and what is the future of the locality where the project is being constructed.
Small projects can be a good idea: Most People go for big projects and even though half the price of the project is because of the reputation of the builder. The bigger the project, the higher the cost. There’s no harm in going for smaller projects. Smaller projects mean that the builder will have enough money to finish the project on time without delays. The price will be accessible on the pocket, and the home buyer will not have to wait forever to get the occupancy of the unit.
It is advised to the homebuyers to make sure that the project they are opting for is registered with the RERA of your state.
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