A devel­oper’s rep­u­ta­tion counts

Builders who care for cus­tomer con­ve­nience and want to of­fer them qual­ity prod­ucts will not want to tar­nish their brand by not get­ting all ap­provals for projects

HT Estates - - HTESTATES - HT Es­tates Cor­re­spon­dent

In­dia’s econ­omy is once again on a sure foot­ing, and peo­ple across the coun­try are now con­fi­dent about buy­ing homes. Pur­chas­ing a home is of course a huge in­vest­ment, and there­fore not some­thing where there can be any mar­gin for er­ror – and yet, things can and of­ten do go wrong.

One of the most com­mon mis­takes that many buy­ers of prop­erty com­mit is do­ing busi­ness with de­vel­op­ers who lack es­tab­lished cre­den­tials. Deal­ing only with re­puted real es­tate builders is the first line of de­fence against get­ting cheated out of one’s money, and be­ing as­sured of buy­ing a qual­ity prod­uct.

How can one iden­tify rep­utable, re­li­able de­vel­op­ers from the huge num­ber of builders con­stantly putting projects on the mar­ket? There are sev­eral defin­ing fac­tors:

Le­gal sanc­tity

Ev­ery residential and com­mer­cial build­ing needs to get a va­ri­ety of per­mis­sions from lo­cal and gov­ern­ment bod­ies. Re­puted de­vel­op­ers will en­sure that their projects have all the cer­tifi­cates and per­mis­sions re­quired by the lo­cal author­i­ties. Again, their rep­u­ta­tion is at stake and they will not take such mat­ters lightly.

All in­stances of ille gal con­struc­tion that one reads about in the pa­pers to­day have one fac­tor in com­mon – these projects are by un­scrupu­lous or in­ex­pe­ri­enced builders who ei­ther did not care to get their projects prop­erly ap­proved, or did not know of all the ap­provals and per­mis­sions they need to ob­tain.

Timely com­ple­tion

In most cases, de­vel­op­ers will of­fer their projects for sale be­fore it has ac­tu­ally been com­pleted. On pur­chas­ing a home in an un­der-con­struc­tion pro­ject, the buyer is as­sured of a cer­tain time­frame in which pos­ses­sion will be given.

Re­puted de­vel­op­ers will not push the pos­ses­sion timeline be­yond a ra­tio­nal limit, firstly be­cause they are ad­e­quately funded and se­condly be­cause they will un­der no cir­cum­stances jeop­ar­dise their cred­i­bil­ity on the mar­ket. Most of the in­stances of ir­ra­tionally de­layed pro­ject com­ple­tions in­volve new, un­der-cap­i­talised and of­ten strug­gling builders. Re­puted de­vel­op­ers can and will al­ways stick to the sched­ule.

Zero-de­fect homes

For re­puted de­vel­op­ers, cred­i­bil­ity is the key to their brand recog­ni­tion – it is their pri­mary com­pet­i­tive ad­van­tage in the mar­ket. They will never of­fer homes that have con­struc­tion de­fects like bad elec­tri­cal fit­tings/wiring, faulty plumb­ing, wa­ter seep­age, bad drainage, etc. Qual­ity con­struc­tion also in­cludes the right size and shape of rooms that are in sync with the over­all pro­ject de­sign.

Struc­tural in­tegrity

Qual­ity con­trol is an im­por­tant part of ev­ery build­ing con­struc­tion be­ing un­der­taken by a rep­utable devel­oper. Their engi­neers will check and mon­i­tor ev­ery as­pect of the con­struc­tion process, in­clud­ing soil com­pact­ness, proper ce­ment/sand ra­tio, slump test­ing, drainage en­gi­neer­ing and earth­quake re­sis­tance of the build­ing.

This en­sures t hat t he pro­ject will not suf­fer from con­struc­tion-re­lated de­fects in the fu­ture. Choice-based re­mod­elling aside, buy­ers will not have to pay for struc­tural re­pairs in the fu­ture.

Ad­e­quate ameni­ties

Re­puted de­vel­op­ers know that it takes more than four walls to make a home, and will al­ways strive to of­fer a good lifestyle to their cus­tomers. They will al­ways pro­vide fa­cil­i­ties like proper park­ing spa­ces, ad­e­quate se­cu­rity, in­ter­nal ac­cess roads, play­grounds, club­houses and aes­thet­i­cally land­scaped open spa­ces in their projects.

Fly-by-night de­vel­op­ers, on the other hand, will look to pro­vide only the barest essen­tials in or­der to keep their prices as low as pos­si­ble, since their main aim is to at­tract non-dis­cern­ing, bud­get-strung buy­ers who do not look be­yond their fi­nan­cial re­stric­tions.

It goes with­out say­ing that a home in a pro­ject by a rep­utable devel­oper will cost more than the thread­bare of­fer­ings of anony­mous lo­cal builders, but it is al­ways worth it. If one chooses to pa­tro­n­ise in­ex­pe­ri­enced de­vel­op­ers, the only at­trac­tion will lie in the price.

SHUTTERSTOCK

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