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How To Choose The Right Builder For Your Home

Here are a few handy hints to help you choose a suitable developer for the construction of your dream home

If you already possess the land or are planning to buy land to construct your house, you need professional help to make your dream home a reality unless you know how to build one yourself. You need a good builder who will not only construct a house but also adhere to the budget agreed upon. You just can’t take chances with your forever home especially if you plan to live in it. So, how do you go about identifying a suitable builder to ensure you get your money’s worth and a beautiful, safe home too?

Here’s a guide to choosing the right builder for your home.

Credibility and Qualifications
In this era of social media and search engine optimisation (SEO), it’s pretty easy to track down a builder’s credibility and qualifications. This is perhaps the first thing you must ascertain before you entrust the construction of your home to them. A builder of repute will always be a member of a recognised industry body. It’s also a good idea to check if the builder’s company is an ISO 9001:2008 certified one. An internationally audited and certified builder is likely to adopt a more professional approach in conducting business while maintaining a stronger focus on quality and customer satisfaction.

Reputation of Trust
Trust and transparency are two important aspects that homebuyers expect from the construction industry. When looking for a builder, check for these qualities. Enquire within your network of friends and business acquaintances who might recommend a builder of repute. A trustworthy builder will not leave a project midway or delay it. The quality of construction will be given utmost priority because a home has to stand strong and safe for a lifetime. A builder, who is transparent when it comes to the budget for construction and other transactions, will have a clear payment plan in place without any fine print. This means no unpleasant surprises through hidden costs that are slapped on the customer during the construction phase. Another aspect to ascertain is if the builder is known for subcontracting the project to another builder. This is an absolute no-no because it’s a contract of trust that the builder and you have signed and it cannot be violated by the builder by giving the work to a third party.

Project Portfolio
If you’re looking for a professional builder with experience, enquire if they have a website or catalogue listing their completed projects. This will give you some insight into the kind of work the builder has accomplished. It will also give you an idea about the type of home designs they are skilled at and the materials used.

How The MHADA Lottery 2023 Mumbai Homes Looks like!

MHADA Lottery 2023 Mumbai: In accordance with the housing programme, the Mumbai Housing and Area Development Board (MHADB), a division of MHADA, will sell about 4,000 homes. The new homes are dispersed around neighbourhoods like Powai, Sion, Borivali, and Goregaon West. The Pradhan Mantri Awas Yojana (PMAY) will also provide advantages to qualif...

Timely Delivery
This must be a top priority for you, and it should be the same for the builder you choose too. The builder must adhere to the project delivery date clearly outlined in the contract. If possible, speak to the builder’s previous clients to confirm if the builder has indeed kept his word and delivered the completed project within the set deadline.

Call for Quotations
Many builders choose projects they know are profitable for them. They often do not take up low budget projects if they feel they’re not worth their time and expertise. This is why it’s wise to invite quotations from multiple builders instead of approaching just one, unless the builder is someone known to you or has been recommended by a satisfied customer. When you solicit quotations from many builders, you must remember to mention your construction budget, specifications of the plot of land, the size of the house you wish to construct, the design plan (of your own or commissioned through an architect), etc.

Package and Pricing
Most professional builders have a construction company of their own that undertakes the complete development of the home as well as the interior design and furbishing too. They have architects, interior designers, carpenters, electricians, plumbers, etc, who work in sync with each other simultaneously. They also offer a deal priced on the minimum per sq. ft. rate. To save you the time of doing up the cabinetry and other works separately, hand over the construction of your home to a builder who gives you a total package, which includes jobs that can be completed while the house construction is in progress. A majority of builders offer scope for negotiations on the pricing and payment terms based on mutual agreement. So, make sure to let each builder know that you are scouting for the best deal at the most suitable price.

Godrej Properties buys 62-acre land in Kurukshetra for development of residential plots

Realty firm Godrej Properties on Monday said it has purchased about 62 acres of land in Kurukshetra, Haryana to develop a plotted residential project. In a regulatory filing, the company informed that this project will offer about 1.4 million square feet of plotted residential development.

The company did not mention the total deal value of this land parcel.

Kurukshetra is a self-sufficient city with good infrastructure consisting of schools, colleges, hospitals and has sig ..

M3M Group has bought 13-acre land in Noida for Rs 827.41 crore through auction. The total acquisition cost would reach Rs 1,200 crore, including lease rent and registration charges.

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Return on investment in real estate - 2022 witnessed increase of 6 percent in average property prices

Bengaluru and Hyderabad have seen maximum 5-yearly increase of 10 percent in average property prices; The IT capital also saw the highest rental yield of 3.9 percent among all major cities, followed by Mumbai with 3.8 percent.

The year 2022 saw a 6 percent yearly increase in average property prices from Rs 5,826 per sq. ft. in 2021 that went up to Rs 6,150 per sq. ft. in 2022. The southern cities of Bengaluru and Hyderabad witnessed the maximum 5-yearly increase of 10 percent in average property prices in the last five years, an analysis by Anarock Research said.

The major cities included in the analysis were NCR, Kolkata, MMR, Pune, Hyderabad, Chennai and Bengaluru.

The Reserve Bank of India will likely take a pause after a spate of interest rate hikes, so growth momentum will continue. The year 2023 will continue to be driven by end-user demand, but serious long-term investors will find the market dynamics more than favourable. Property prices are likely to rise by another 5-8 percent in the larger cities – this bodes well for investors focused on capital appreciation, but also means that rental demand will increase, it said.

The current average prices in the top 7 cities are collectively approximately Rs 6,150 per sq. ft which indicates that there has been an increase of over 11 percent since the last five years from Rs 5,551 per sq. ft. in 2018 to approximately. Rs 6,150 per sq. ft. in 2022, it said.

The year 2022 saw the maximum yearly rise (6%) in average property prices which were at Rs 5,826 per sq. ft. in 2021 and increased to Rs 6,150 per sq. ft. in 2022. The previous four years, on the other hand, saw either no change or a maximum of 3-4 percent y-o-y increase in 2021 against 2020. Before the Covid-19 pandemic, property prices across cities remained range-bound due to a prolonged demand slowdown, it showed.

Among the cities, Bengaluru and Hyderabad have seen maximum 5-yearly increase of 10 percent in average property prices in last five years. Average property prices in Bengaluru stood at Rs 4,894 per sq. ft. in 2018 and went up to Rs 5,570 per sq. ft. in 2022. As for Hyderabad, average prices in 2018 in the city stood at Rs 4,128 per sq. ft. and had risen to Rs 4,620 per sq. ft. in 2022.

Bengaluru commands the highest rental yield of 3.9 percent among all major cities

Rental yield saw a decline across most cities in 2020 when compared to 2019 – a natural fallout of the pandemic and its work-from-home and e-schooling ethos. 2021 saw some improvement, with rental yields rising across cities and nearing 2019 levels.

However, 2022 saw a decent rise in rental yields, which breached pre-Covid levels of 2019 across all the top 7 cities. This was largely due to a sudden spurt in rental demand with offices and schools reopening.

The current rental demand will remain strong in all cities as urban work opportunities rise and more people migrate to cities, the analysis said.

ANAROCK Research indicates that Bengaluru has the highest rental yield of 3.9 percent among all major cities, followed by Mumbai with 3.8 percent.

As for the real estate outlook in 2023, under-researched investments and a short-term profit perspective must be avoided in 2023, said Prashant Thakur, senior director and head – Research, ANAROCK Group

All the factors that drove up capital appreciation and rental yields are firmly in place, and the profitability potential for both investment rationales remains promising. That said, 2023 will face some headwinds in terms of economic slowdown and inflationary pressure, and this needs to be factored into any investment decision – including for real estate, he said.

How To Choose The Right Builder For Your Home

Here are a few handy hints to help you choose a suitable developer for the construction of your dream home

If you already possess the land or are planning to buy land to construct your house, you need professional help to make your dream home a reality unless you know how to build one yourself. You need a good builder who will not only construct a house but also adhere to the budget agreed upon. You just can’t take chances with your forever home especially if you plan to live in it. So, how do you go about identifying a suitable builder to ensure you get your money’s worth and a beautiful, safe home too?

Here’s a guide to choosing the right builder for your home.

Credibility and Qualifications
In this era of social media and search engine optimisation (SEO), it’s pretty easy to track down a builder’s credibility and qualifications. This is perhaps the first thing you must ascertain before you entrust the construction of your home to them. A builder of repute will always be a member of a recognised industry body. It’s also a good idea to check if the builder’s company is an ISO 9001:2008 certified one. An internationally audited and certified builder is likely to adopt a more professional approach in conducting business while maintaining a stronger focus on quality and customer satisfaction.

Reputation of Trust
Trust and transparency are two important aspects that homebuyers expect from the construction industry. When looking for a builder, check for these qualities. Enquire within your network of friends and business acquaintances who might recommend a builder of repute. A trustworthy builder will not leave a project midway or delay it. The quality of construction will be given utmost priority because a home has to stand strong and safe for a lifetime. A builder, who is transparent when it comes to the budget for construction and other transactions, will have a clear payment plan in place without any fine print. This means no unpleasant surprises through hidden costs that are slapped on the customer during the construction phase. Another aspect to ascertain is if the builder is known for subcontracting the project to another builder. This is an absolute no-no because it’s a contract of trust that the builder and you have signed and it cannot be violated by the builder by giving the work to a third party.

Project Portfolio
If you’re looking for a professional builder with experience, enquire if they have a website or catalogue listing their completed projects. This will give you some insight into the kind of work the builder has accomplished. It will also give you an idea about the type of home designs they are skilled at and the materials used.

How The MHADA Lottery 2023 Mumbai Homes Looks like!

MHADA Lottery 2023 Mumbai: In accordance with the housing programme, the Mumbai Housing and Area Development Board (MHADB), a division of MHADA, will sell about 4,000 homes. The new homes are dispersed around neighbourhoods like Powai, Sion, Borivali, and Goregaon West. The Pradhan Mantri Awas Yojana (PMAY) will also provide advantages to qualif...

Timely Delivery
This must be a top priority for you, and it should be the same for the builder you choose too. The builder must adhere to the project delivery date clearly outlined in the contract. If possible, speak to the builder’s previous clients to confirm if the builder has indeed kept his word and delivered the completed project within the set deadline.

Call for Quotations
Many builders choose projects they know are profitable for them. They often do not take up low budget projects if they feel they’re not worth their time and expertise. This is why it’s wise to invite quotations from multiple builders instead of approaching just one, unless the builder is someone known to you or has been recommended by a satisfied customer. When you solicit quotations from many builders, you must remember to mention your construction budget, specifications of the plot of land, the size of the house you wish to construct, the design plan (of your own or commissioned through an architect), etc.

Package and Pricing
Most professional builders have a construction company of their own that undertakes the complete development of the home as well as the interior design and furbishing too. They have architects, interior designers, carpenters, electricians, plumbers, etc, who work in sync with each other simultaneously. They also offer a deal priced on the minimum per sq. ft. rate. To save you the time of doing up the cabinetry and other works separately, hand over the construction of your home to a builder who gives you a total package, which includes jobs that can be completed while the house construction is in progress. A majority of builders offer scope for negotiations on the pricing and payment terms based on mutual agreement. So, make sure to let each builder know that you are scouting for the best deal at the most suitable price.

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Godrej Properties buys 62-acre land in Kurukshetra for development of residential plots

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