The validity of a house depends upon the foundation it is laid on. Simply put, if you want a guarantee on your home, then selecting a suitable real estate company is a must.
Here are a few factors that can lend aid to choosing the best company–
Preliminary Research for a suitable list
This is a primary step to veto all options before a final list. The research needs to be divided into the following categories:
1. Based on the key market players:
These can be easily determined as the top sellers in that particular area. Jot down the top results to get an average list of names that are trusted by the residents. For the best real estate company in Hyderabad, you can also consider the criterion based on mid-segment, upper-segment and luxury-segment projects, according to your budget.
2. Based on the past projects:
You can search their past projects and determine how credible the developers are in terms of timely possessions of the flats, maintenance of the buildings, complex amenities, and security with a gated community. These factors and their execution in their past projects are a reflection of their reputation in the market.
3. Based on the specifications of their apartments:
Note down the configurations and the apartment structure offered by that developer. You may observe that for similar configurations, some projects have larger carpet areas (as measured by RERA standards) compared to others.
Apartment structure factors in the placement of the rooms, balcony and veranda space, and storage rooms. This shall determine which developer is offering the best end of the deal.
4. Based on their USP:
An experienced and good real estate developer can execute a unique vision for their projects, even under the same ticket size. For reference, some offer Lakeside views like The Regent in Hyderabad. Some have avant-garde architecture, some have distinct amenities, and so on. In the end, it depends on your preference, but a unique feature is like adding a feather to the cap!
After you have evaluated their reputation based on the aforementioned parameters, the next step is to conduct a site visit. Every developer allows provisions for visiting the construction site for potential buyers to assess the grounds. This displays whether the developers are coming through with the proposed and approved plans.
In most cases, the administration staff or sales executive accompanies you and explains the intricacies during these visits. This particularly helps for under-construction projects, and maintaining such a level of transparency is an attribute of a trustworthy real estate developer.
Since Hyderabad is the foreground of a major influx of residential projects, surveying the construction could give you an idea of the best real estate company in Hyderabad.
Testimonials and Surveying the Neighbourhood
“Straight from the horse’s mouth” is the most valid testament of a quality project. Testimonials, reviews and word-of-mouth give an estimate of how credible the developers are. Moreover, you can also approach the residing neighbours to ask for a house tour and affirm if they are satisfied with the developers.
Inquiring with the locals in the neighbourhood will also give an outside perspective on the project, thus inferring the reliability of the developers.
Based on social media presence
Nowadays every real estate company is active on social media. You can access their pages to verify their brand value. You can also assess their engagement with subscribers to evaluate the feedback, positive remarks or criticisms.
This step will help eliminate the options based on red flags– the most prominent being if the developer hands over heaps of paperwork and contracts to sign. Several lawsuits have emerged based on the complex entrapments of these contracts.
If the clauses mention unnecessary NDAs (non-disclosure agreements) or ask the client to refrain from discussing any details of the project; this gives a negative connotation to their credibility.
A trusted developer will always encourage a mutual contract between the buyer and seller, making sure that there are no hidden clauses.
You can hire a property legal counsellor to guide you through these contracts.
One of the signs of a viable real estate developer is if they are sanctioned by banks for home loans to the buyers. This implies that the banks have forecasted a high valuation for the project under the developer.
Some real estate companies also offer special payment schemes, monthly instalment schemes, and provisions for government aid for low-segment projects.
This is key in determining whether the developer is offering value to the worth of the project. To determine that, first record the average trending price of the locale. For e.g., if you are searching for 3 BHK flats in Hyderabad HITEC City, then check the average property prices per sq.ft. of that area.
Now cross-reference it with the prices offered by your developer. If they are near the average, it means that the project is not overvalued.
The “Overvaluation” factor needs to be considered by the buyer, as you may not yield the desired ROI in the long term. Property consultants are available for this evaluation.
You can augment your preferences as you want, but the above tips can be applied to the general judgement of the real estate company.
To experience the city of Nawabs in its optimum form, Aurobindo Realty has checked all the boxes mentioned above, with a guarantee of a lifelong relationship with the homeowners.