Owning a residential apartment in Chennai is a life goal among the common people living in the city. Your home fulfills multiple needs and provides a place to relax and enjoy. Before striking a deal and buying a residential apartment in Porur or any other part of the city, you must carefully analyze your decision and the builder’s reliability.
It is not just the building, the builder plays a crucial role as well in the peaceful life you get after investing in residential apartments in Chennai’s Porur or other neighborhoods. The chances of getting the value you expect from your home depend primarily on the builder’s reputation.
What is the need for choosing the right builder while you buy an apartment in Chennai?
Choosing the best builder plays a crucial role while investing your hard-earned life savings. The durability of your dream home, the quality of life it offers, and a lot more are dependent on your builder’s commitment and conviction. Factors such as the builder’s reputation, financial standing, past track record, and legal standing are indicative of their capability and dedication.
It takes careful planning, diligent saving, and smart decision-making to get the best possible home in today’s world. Years of hard work, planning, and saving must culminate in the choice of the best apartment in Chennai as well as the most reliable builder. This is often a once-in-a-lifetime achievement for many of us. So it calls for exercising great caution.
The absence of proper regulatory authority makes choosing the best builder all the more important. If you are looking for new flats for sale in Porur, partnering with the right builder saves a lot of hassle later.
Significant factors to consider while choosing your builder
The real estate sector is filled with several players. Not to mention the not-so-organized contemporary real estate industry in the nation. Several of the apartment deals in metros are currently sold while in the construction stage. In order to avoid any unwanted litigation or any project going incomplete or abandoned, it is extremely crucial to pick the right builder.
Ensuring the proper investment of your life savings and securing a blissful life in your dream home demands careful consideration of the following:
#1. Licenses and approval
If you have selected the location and the property, it is important to check all the builder credentials. Starting with the title of the land and the builder’s license for development and construction, all relevant documents must be thoroughly verified to ensure your safety.
#2. Credibility and reputation of the builder
See whether the builder has earned the trust and goodwill of the customers. The commitment to keep promises related to quality, amenities and timely delivery needs to be ascertained from past projects and buyers.
Not just staying in business for long or making tall promises, it is in fulfilling the words that make a builder truly reliable. With a lot of new flats for sale in Porur available, you need to be sure of the builder’s ability and reliability.
#3. Past track record and experience
It is only natural that everyone expects his or her home to be built by an experienced and expert builder. Checking the experience and number of projects delivered will give a clear idea about the builder’s capability. It is important to check this while investing in a residential apartment in Porur.
#4. Post-sales support and service
Residential apartment purchase is not like buying groceries. It requires support and assistance from the part of the builder. Even before signing the agreement, you need to check about the builder’s support after closing the deal. The necessary updates and maintenance until you form your apartment residents’ association must be provided by the builder.
#5. The financial status of the builder
Checking whether the builder is financially stable and has financial credibility is important. Before investing in your residential apartment in Chennai, you must check if the project is funded or backed by reputed financiers. Collecting information about the developer’s past record related to loan commitments is essential.
#6. Industrial association of the builder
It is necessary to ensure that the builder you have shortlisted is a member of any reputed builders association such as CREDAI. The rules and regulations provided by these associations have to be followed by the builders, ensuring that they do not violate any code of conduct.
#7. Legal check on the property and the builder
It is recommended to check the legal standing of the builder. Ensure that there is no legal case or other such issues on the business or the family of the builder. This assures there won’t be any delay in project completion due to distractions caused by court proceedings. Moreover, the developer must have the necessary approval and NOCs from the concerned authorities and agencies.
#8. Details of financing banks
You had better check whether banks are willing to finance the builder you are zeroing in on. Before you invest in an apartment, check whether any bank is willing to fund the builder’s project. This helps understand the financial standing of the builder while ensuring that the property papers are clean. Moreover, you can also be aware of your possibility of getting home loans from banks.
#9. Utilities and amenities offered by the builder
Check whether all modern amenities and basic utilities as per contemporary standards are being offered by the builder. Basic necessities such as potable water, electricity, and gas supply are integral. Ensure that the builder provides facilities such as play area, clubhouse, swimming pool, car parking, and security features.
Buying apartments in Chennai—whatever the purpose behind it—is one of the biggest decisions in the common Chennaiite’s life. It is imperative that you exercise the utmost caution before investing your precious money on a property. In order to ensure that you get your dream home and enjoy leading a peaceful life there, running a diligent check on the apartment-builder as well as the property is crucial.