You have decided to buy your own home. The moment you speak your mind, there is a whole world of real estate agents, builders, brokers, and your own friends and family giving you their opinions. Finally, you have zeroed in on the locality and the type of home you want – the most demanded villa or the illustrious apartment. But, this is only the first step. You are still confused whether you should go for a branded builder or to go with any player in the housing sector.
If you’re wondering why you should invest your savings in a brand that is going to cost a fortune, here are top 7 reasons why you should:
1. The Invincible Trust
While you were busy doing your bit of research on the real estate sector, a few brand names popped up again and again on your computer screen. Moreover, you can see these names on billboards, in newspaper and television ads or even during discussions at social gatherings. It may occur to you that these brands have a lot of money to spend on advertising, but it is also true that they have been doing good business by selling well constructed projects that have left their customers satisfied. They are known to consistently deliver quality projects that are highly valuable. In another words, they are trustworthy and hence safer bets.
2. No Foul Play
Your investment is secure as there is less chance of foul play in case you buy property from a renowned property house as they are always transparent in their dealings. A branded developer will always sell you at the prevailing rate in the market while a lesser-known builder may charge extra than the current rate. A reputed builder will always give you the promised carpet area and total built-up area.
When you go with a brand name, chances are bleak that you will get a property which is built on disputed land. With an unknown party, there will always be a nagging thought in your mind that what if the land is not clear and you are not aware of this information.
To keep your worries at bay, you can ask the builder for the sanctioned plan and the
The IOD is a set of instructions that a developer needs to comply with so that he can legally construct the project. An unknown builder may violate the sanctioned plan.
You can ask the builder for title papers and the Commencement Certificate (CC). The CC is required during the process of registration and the stamp duty process and also during the time of resale.
A good builder will have these papers ready for you. Moreover, a good builder will provide you the ‘A’ Khata A and the Occupancy Certificate (OC) on time. The Khata is one of most important document for a property owner as it records all details about the property. The Khata comes handy when it comes to electricity and water connections, trade and building licenses and availing of bank loans also during the time of resale.
OC is another most important document required for any kind of apartment buyers. A branded builder will commit to the OC and ‘A’ Khata in writing and make it as part of Sale Agreement/Sale Deed.
An established builder will also make the payment schedule reflect the stages for actual completion of your home, which a non branded builder may fail to do.
3. Ease of Availability of Home Loan
Buying a new home, often means applying for a home loan. In most of the cases, if you decide to buy a brand property builder is known, your loan gets sanctioned easily. This is because financial institutions like banks are tied with well-known players of the real estate sector. So the chances of a potential fraud fall down drastically as the banks and housing finance companies have carried out the due diligence process by themselves.
When names such as SBI, ICICI Bank or HDFC Bank are associated with a builder, chances are very dim that any kind of malpractice will surface in the long run. There have been numerous cases where fraudulent builders have robbed people of their hard-earned money.
Banks trust the reputed brand names in the housing sector and know that these builders will complete the construction on time. This simply means that you are buying the right property. That’s more peace of mind for you!
4. An Edge over Others
When you go for a brand name, it certainly has an edge over others as far as amenities, material used and finishing are concerned. For the price you pay, a well-known builder will always provide you the best of amenities for your property and you will not have to worry about the quality or finish of doors, cabinets or windows.
When you go hunting for a new home, not all layouts or constructions may be to your liking. Reputed builders can realize this and try to satisfy the varied interests of their customers. That’s why when you walk into a construction and find your preferred bath fittings, a window fitted into that pretty little kitchen or a South-facing balcony, its not mere coincidence.
5. No Hidden Costs
With a renowned builder you can be sure that additional charges such as legal fees or parking charges etc. will be revealed to you in the beginning. You can be sure that they will not surprise you at the time of possession with some additional costs.
6. Delivery on Time
A name becomes a brand when it can live up to to customer’s satisfaction. A branded builder can always tell you the tentative date of acquisition of your property and will always deliver on time no matter what. Hence, you do not have to grey your hair with your pre-EMI rates. However, a non established builder may not be able to stick to timeliness.
7. High ROI Guaranteed
Everyone waits for the day when their new home will finally be ready and resemble the pictures in the builder’s brochure. Receiving the keys and moving into your new home is indeed a joyous occasion. But what really makes it an investment for life is how valuable your new property is. Over the years as the city expands and you realize your home is in an enviable location, so will the real estate pundits who will add this when they price your home at double or triple (or even more) the amount you bought it for! Hence a guaranteed high return on investment.
Moreover, the real estate pundits also add your builder’ brand value to the property appreciation trends, making your dream house a priced possession. This is an added benefit when you buy invest in real estate from a compared to a branded builder.
Ramesh Kumar has extensive experience in real estate in a career spanning over a decade. With his critical expertise in sales and marketing, he has successfully launched and closed out projects across a complete spectrum of properties like plots, budget apartments, comfort homes as well as luxury villas.
Ramesh Kumar holds a Post Graduate Diploma in Management from Bombay University and is currently serving as the Deputy General Manager – Marketing & Sales at Vakil Housing.