How to Find a Builder You Can Trust

In recent years, the mid to low-budget housing segment has received a fillip with the introduction of various policies like the Pradhan Mantri Awas Yojana (PMAY), tax exemption for builders of affordable housing, and subsidies for first-time buyers. Coupled with vast improvements in transportation and connectivity, affordable housing is now an accessible dream for many more aspiring homebuyers.

However, this comes with a catch. Attractive incentives mean more players in the market. There are more builders entering the market each day offering, ‘only the best’ homes for you. Choosing a trusted builder can be a confusing and laborious task.

We lists a few hallmarks that a reliable builder will possess.

Track record

Evaluate the developer’s track record by checking reviews online and reading what other buyers have to say. You can even visit one of the properties and speak to the residents to get real-time information about the developer and their work. Did they finish work on time? Are the facilities provided as promised? These, and many more, questions will give you a clear picture of how trustworthy the builder is.

Legalities

One of the most crucial aspects of buying a house is the paperwork and documentation. A builder of repute will have a good sense of accountability and have an impeccable legal history with all necessary documents in place.

Talking to residents from some of the builder’s newer projects will give you this important information. Looking up consumer court complaints to see if the builder has figured in any of them would also be extremely useful.

Quality of construction

Visit some of the projects under construction to check the quality of materials used. Check the model flats, talk to the workers, and site manager to understand the quality of construction.

If possible, visit a recently completed project and keep an eye out for fittings, frames, paint and plaster, and other features like allocation of green spaces in and around to get an idea of the builder’s approach towards design.

Financial record

Has the developer filed for bankruptcy at any point? Can you view their financial statements publicly? Checking these parameters of the developer’s financial health will tell you if they are capable of finishing their projects on time.

If the builder is listed as a member of trusted institutions like the Confederation of Real Estate Developers’ Associations of India (CREDAI) or shows up on CRISIL’s developer rating lists then their reliability goes up several notches.

Evaluation from third party sources

The best way to get a thorough evaluation is to engage a real estate professional who can provide guidance and give you a true picture of the developer’s quality of work.

Another, equally reliable, method is to ask the developer himself for references of satisfied residents. A good developer will be only too eager to give out names of happy customers who can provide testimonials, and this is a positive sign.

This article is contributed by Ashok Chhajer, Chairman & Managing Director, Arihant Superstructures Ltd, a long-time member of the MCHI-CREDAI.

(The views expressed here are solely those of the author and do not necessarily represent or reflect the views of RoofandFloor)