Investing in a plot is one of the most important decisions you can make, and it begins with lots of questions, like should I buy from this developer? Is the chosen developer credible or not? To be honest, these questions are most important to ask because your hard-earned money, years of savings, are bet on your one decision. So, it’s important while buying a plot in Jaipur take some time and check the developer’s credibility.
In this blog, we will discuss some of the ways through which you can identify whether the developer is trustworthy or not.
1. Research online reviews and ratings
One of the simplest ways is to check online reviews of the developer. In today’s world, you can get any information through Google. These reviews will provide insights into the developer’s work. While checking the online reviews, use a combination of different sources like Google reviews, their social media and other platforms like Quora and Reddit (if available) or real estate forums. Quora and Reddit are the discussion forums where people discuss many things. People post their questions or experiences, and then people join that discussion by commenting on the post. Through this, you can get to know about the developer’s services.
Sometimes there are some fake reviews, and to get the actual insights about developer-comparison of reviews from different platforms are important to get a clear picture of the developer’s services.
2. Check the History & Track Record of the developer.
Before buying a plot in Jaipur, one of the important steps you can take is to check the developer’s history and track record. Check the list of successful projects and a consistent track record, which will help you to understand the developer’s commitment towards quality and timeliness.
3. Visit Past Projects
To evaluate a builder’s credibility, you should visit their completed projects. Through this, you will get an idea is the developer actually delivers what promises. Past projects also show you the quality of construction. If after years, the construction is in good condition, it means the developer uses good quality material, and you are buying a plot in a safe township.
4. Review the developer’s reputation in the market.
A good developer will have positive word-of-mouth reviews in the market and also have ties with trusted real estate bodies.
5. Check for customer complaints and legal cases.
While gathering information regarding the developer’s reputation, it is important to check the customer complaints on platforms like RERA or National Judicial Data Grid (NJDG), and you can also use E-court portals. Complaints will give you a good idea about the services provided by the developers.
6. Check Licenses and certifications.
A responsible developer would get necessary licenses and certificates from the responsible authorities and would follow the industry norms. Certificates like No-objection certificate (NOC), completion certificate (CC), or RERA registration, etc., if the developers have these documents, it means they are complying with the set government rules and regulations. It means your plot is safe from any legal issues, but it's important to verify the documents for this you can hire a lawyer
7. Check awards and partnerships.
Developers who are associated with organizations like Confederation of Real Estate Developers Association of India (CREDAI) or the Builders Association of India (BAI) generally has the good track record of delivering projects on time.
8. Speaking to residence
Speaking to the residents will tell you about the developer’s behaviour before or during the process of buying and after purchasing. Their real experience will give you real information on whether you should choose this developer or not.
9. Pending cases and legal disputes
Checking for pending cases and legal disputes can save you from the problems that may arise in the future. If there are many pending cases of legal disputes its total red flag. One or two is considered normal, but if it’s too many, not trustworthy! Legal issues include land acquisition disputes to regulatory clearances; if these issues persist again and again in the projects means there are some problems from the developer’s side.
10. Financial Stability
Financial stability is one of the other ways to find out that is the chosen developer is credible or not, which is to check its financial stability. Financial stability will tell you whether you can trust the builder that you will get your plot on time. To check the developer’s financial stability, you can check their financial statement, mainly the balance sheet, from which you will get to know whether the company is in serious debt or not. The data of some developers are publicly available on their website or public platforms. Financial stability is one of the ways which tells you whether developer is able to deliver the project on time or not.
These ways will help you to find a credible developer for your investment or to get a home to make memories with your happy family.
Happy Investing. Happy Buying!