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How To Check Real-Estate Builder’s Reputation

Many real-estate builders are fast developing flats in Chennai nowadays. People have lot of chance of being confused in deciding as to who is a top and reliable builder. The buyers have to be very careful in choosing the builder and have to know about the builder’s reputation. There are many easy ways to get to know about the reputation of a builder, some of which are listed out below:

  • Chennai is a very big city and the builders are promoting a variety of 2BHK and 3BHK apartments. The buyers must have clear information about the builder and they can do this by visiting their completed projects and also by talking to existing and prospective customers of the concerned buyer.
  • Asking friends and family who have recently purchased a property in Chennai may give the buyer a more clear perspective about the builder and his reputation. Such a word of mouth reference is always one that can be trusted upon.
  • Few legal details of the builder are also supposed to be noted. The first detail to be checked is if the builder has an ISO certification which will assure the builder’s quality. The next point to be noted is the builder is a member of Builders’ Association or Trade Association like Confederation of Real Estate Developers’ Association Of India (CREDAI), Builders Association Of India (BAI) etc. These organisations will make sure that the builder abides by the legal limit of interest and all other financial proceedings.
  • The buyers should approach banks because banks usually have a list of the builders to whom loans will be sanctioned to and other legal assurances. Be sure that the company is financially stable. Start off by getting the company’s balance sheet, this can be got from the company’s own website or you can also contact the Registrar of Companies regarding the same.

As you know, Chennai is a very large city and has several builders promoting flats and luxury apartments.  It becomes necessary for buyers to take a lot of care before choosing the builder.

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