Tag: real estate builder and developer ranchi

Questions to Ask a Real Estate Developer in Ranchi

Buying a property is a big move and a major financial investment. It requires thoughtful planning, doing property surveys and verifying credentials. As investors, you should be vigilant during the entire process. One careless move can force you to pay a heavy price. While choosing to work with the real estate builder and developer in Ranchi, it is important to vet and ask him questions. It will help you to be aware and understand the process better.

Eliminate All Confusion before Buying a Home

In this article, we will discuss a list of questions to ask the real estate developer. You can finalize your decision and work with the best experts.

1. What is your background?

Before you select a real estate developer, consider this primary factor. Perform a background check to know his track record and delivery rate success. Any good developer should complete one successful project with 100% client satisfaction. You can check his credentials by visiting the online company website. Talk to his previous clients and visit the ongoing construction sites. This way, you can check their work quality, material selection and layout.

2. What is your track record?

In the real estate market, execution matters as much as expertise. If the developer lacks a solid track record of project delivery, you should not work with them. All professional developers complete their tasks within time and budget. For other details, you can stress the following points.

  • Actual project cost vs estimated budget
  • Delivery timeline
  • Quality and assurance of construction
  • Testimonial and feedback from the clients

3. Are there proper approvals?

The developers portion a part of the land while securing several approvals. They give it to the municipal authorities or the government as Open Space Reservation or OSR. Later they develop it into recreation grounds, hospitals or other amenities.

If the developers build additional units in this land like a parking space, the occupants can face legal issues. Instances like this make it important to check the approvals before buying a property.

You can abide by this checklist of approvals –

  • Building regulations
  • Pollution and Water
  • Height clearance
  • NOC from airport authorities

4. How is your financial condition?

The process of property development is lengthy and complex. With proper capital, the developers can ensure the smooth running of the projects. Money helps source the engineers, contractors and other parties. This way, the project can go off the ground without hassle.

Developers with a shaky or unsteady financial position delay the projects. They cut corners while guaranteeing property quality. This is why it is important to ask them questions about their financial report.

5. Can I customize my home?

All good developers give you the option to customize your new home. You should ensure it before choosing to work with them. Every investor would want to decorate their home in a personal way. Modern-day developers work with designers who add fancy fixtures to your dream property. Ask your real estate developer questions concerning this. If you plan to indulge in changes, clarify it before buying the property.

Consult the team of experienced real estate developers at Loyala Group. Buy premium quality customized properties at affordable prices. We promise a comfortable and standard living as per convenience.

Few Points To Consider When Buying A Property in Ranchi

Once you start looking for a property in Ranchi, you will notice numerous of those scattered all over the city. No doubt, buyers often have a tough time choosing the best among them. Since most of them don’t have experience buying properties, it is always advisable to get in touch with real estate builders and developers.

Sometimes, buyers end up losing their minds or overpaying as they have to undertake various tasks like applying for a mortgage, saving a down payment and competing with other buyers. Real estate prices are rising very fast, so the sooner you can buy your dream home, the better your investment will be. Even if you are in a hurry to buy the best property in Ranchi, you have to consider few vital points.

Buying A Property In Ranchi? Consider The Points Stated Below

1. Choose The Right Plan
Though homebuyers can choose from numerous payment options like Flexi-payment plan, down-payment plan, possession-linked plan or construction-linked plan, make sure you consider their convenience first. Hire a reliable developer as default or late payment on their part in a few schemes can impact your credit score. Look for a guaranteed rental scheme where developers have to pay your rent while your building is under construction.

2. Approval And Licenses
Once you have shortlisted a property, your next task will be to ask your real estate builder and developer in Ranchi to provide you with the necessary paperwork like the environment clearance, approved building plans and commencement certificate for work. If you want to know whether the builder has the development rights or has just bought the land, ask for the land title status. Also, check whether he has right over the property.

3.Register The Plot
Don’t forget to register your property with authority if you want to have complete peace of mind after buying your dream home. This will make you its lawful owner. You will get the property’s rights from the date the sale deed has been executed and registered. It will take around 15 days for your documents to get registered. Collect the document and send it to the bank if you have taken a home loan.

Since you are now aware of all the vital points you have to consider when buying a property in Ranchi, it’s time you start looking for experienced real estate developers and builders. Loyala Group has some of the most experienced and dynamic professionals who can make your vision of a dream home come true.