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Tips to select the best builder
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Are you apprehensive before closing the deal for your new home? Do you think you have made the right purchase? Have you ensured you got your money’s worth? Are you an NRI looking for the best deal with home loans? Thanks to the global meltdown property is in the news. Property rates have reportedly fallen in a big way. Perhaps this is the right time to buy property in India. But did you know that an important aspect of a picture-perfect deal is the builder of your home – are you satisfied with your builder?
Read on to find out how you should go about choosing a good builder for your dream home.
  • It is better to sail through known waters. A known builder with a good reputation in the market is always a safer bet. It is important to run a thorough background check on your builder. How many projects has s/he completed in the past? Does s/he complete projects in time? Are his/her customers happy with their homes? Does s/he have any cases of fraud against him/her? Is s/he financially sound? Make sure you have the answers to these questions.

  • Look at the earlier projects of the builder; it will give you a fair idea of the quality of builder’s work. Talk to some of the earlier customers to verify any problems that they may have faced.

  • Ensure that your builder has got the plan approved by the local municipal corporation. Enquire about the electricity and water connection. It is advisable to invest in a home within the municipal limits to ensure a water connection from the city corporation.

  • Make sure your builder has a Completion Certificate and Occupancy Certificate from the Municipal Corporation.

  • Ensure that the builder transfers the title in your name. The records with the corporation must show you as the owner of the apartment. Ensure that the electricity bill and water and corporation tax are charged to your name.

  • A good builder should not encourage cash transactions. Your builder should be able to give you a detailed break up of your payments and should be willing to accept check payments.
Be a vigilant buyer - finding a good builder depends upon how good a customer you are!
Have you dealt with a property developer/builder? Are you happy with your home? Did you have any problems settling the deal? Would you recommend your builder to others? Do let us know.
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