Real Estate Trivia

Advantages of purchasing a property developed by a reputed developer

By: Merlin Group | January 15, 2019

While investing the first thought that comes to our mind is the return of the investment. A good return is only possible when we make our choices wisely. A wise choice always includes good market research about the product we are planning to invest in. If the amount of investment is big then we can only trust established brands. As established brands would never compromise on the quality of their product because compromising on quality would work adversely on their brand recall. Hence association with a renowned brand will certainly result in a fair return of the investment.

In the case of real estate investment, the stakes are very high as the amount of investment is high. Therefore the credentials and background of the developer must be verified before making any decision.

Hereunder are a few points which will bring out the benefits of choosing the right developer:

  • Construction

Construction is the backbone of any residential project. The sustainability and the endurance of any structure depend on its constitution. With a recognized brand there will always be an assurance of getting a better composition. Hence it is always advisable to make a little research about the developer and its history; also a little comparison will provide you an advantage while taking a decision.

  • Project completion

Completing the project within the assured time is the expectation of every buyer. With the introduction of housing acts like RERA & HIRA things have become more transparent between the consumer and the developer. Every Deadline and information has to be matched with accuracy, failing which the developer can be penalized. It is quite evident that any reputed developer would duly abide these acts for sustainable brand recognition.

  • RERA and HIRA

With the introduction of housing acts like RERA and HIRA, the chances of getting deceived have reduced to zero. Every project has to have a RERA registration or a HIRA number; no reputed developer can promote, endorse or sell their products without a RERA registration or a HIRA number (HIRA is applicable in west Bengal). With these registrations, the authenticity of the developer is justified.

According to RERA, the developer cannot hold the possession on property once the initial loan installment is been paid, neither can they deliver anything less than the agreement, in built up area or carpet area. On the other hand, HIRA helps in maintaining the transparency between the consumer and the developer. According HIRA, informations provided by the developer about their project must be 100 percent authentic and real.

  • Ease of loan approval

Buying a property is a big investment hence more people opt for a loan rather than investing from their own pockets. However, the bank will not approve any loan until the developer has a good reputation and has a tie-up with the particular bank. As a matter of fact, banks will not make a tie-up until they are sure about the developer’s background. While buying a property from a renowned developer there is always an advantage of getting attractive interest rates from the bank.

  • State of art facilities and amenities

In this 21st century apartments are no longer mere shelters they are rather a lifestyle or in other words, they reflect one’s fashion quotient. With all the modern amenities and facilities, a modern apartment truly epitomizes the word luxury. Amenities like roof-top swimming pools, huge central parks, indoor & outdoor re-creational play and leisure areas, AC banquet & community halls, jogging tracks, AC gymnasiums, to keep us proactive in our leisure. Contemporary developers are not only selling homes they are rather selling dreams.

  • A better state of mind and safety at the same time

Surrounded with lush greenery, situated near water bodies, located in prime location, Vaastu-complaint architecture, proper ventilation, along with luxury apartments developers are trying to give us a peaceful and a happier state of mind.

Contemporary real estate developers are trying to cater every human need and emotion within the boundaries of their construction. Every luxury projects includes top of the line security arrangements as an integral part of its constitution in order to assure a carefree sleep for all its residents.

Every established brand works hard to maintain its brand recognition. For sustaining the brand recognition the brand has to be consistent with the product quality. Hence established brands will always strive for better quality and as a matter of fact, this striving would benefit the consumers.

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