How to choose the best real estate company in Mumbai?
Article by Mr. Rohit Kharche, Director of The Baya Company
Buying a flat or, a house, or, any kind of property anywhere, is always going to be a significant investment for you. Having the ownership of a property does make you feel secure, and even proud, but the property buying process that you have to go through is anything but simple. From zeroing on the right location to finalizing the deal, there are several steps to the process, and finding the best real estate company in Mumbai is a vital step which must not be taken for granted. This is a tricky step, because if you are not careful you will end up dealing with financial losses, and disappointments.
Here’s our guide to help you find the best real estate company in Mumbai. Go through it and prepare your checklist before you start house hunting in Mumbai.
Tips to find the best real estate company in Mumbai:
Since, the real estate in Mumbai draws people from all over the country, there is a big demand for quality housing. There are a lots of real estate companies in Mumbai both old and new,whoare engaged in developing attractive real estate projects. When the market is teeming with real estate companies, it is not possible for the buyer to decide which way to turn, and which company to trust. When every project sounds promising with tempting schemes available to ease the burden of the buyer, it is absolutely normal to feel lost. But if you just keep some basic points in mind during the sorting process, you can save yourself from regret. Let’s figure out what these points are-
How much experience does the company have in this field?
There is no dearth of real estate companies in the city, but when you start your sorting procedure,shortlist real estate developers who have years, even decades of experience. The new developers might have some tempting offers up their sleeves, and innovative ideas, but true innovation can only come when you have years of experience in designing projects and meeting the home buyers’ demands. Seasoned developers who have spent decades in this field, they are well aware of the nitty-gritty of the market. The only reason they have been able to retain success is because they have relentlessly updated their service in keeping with the changing real estate landscape, and they know what to deliver.
The number of projects they have completed so far:
A seasoned realestate company will have many completed projects scattered around the city. You should visit their website and checkout the number and details of the completed projects and visit those sites. Check reviews online, and if possible talk to people who have bought flats from them to learn about their experiences. Find outwhether they were delivered the carpet area they were promised or, not, and askwere the flats delivered as per schedule? Getting referrals and relevant information on all these aspects will help. Do your research on real estate in Mumbai to learn about the trust score of the brands.You should always opt for a real estate company who are trusted.
Do they have RERA certification?
Once you are past the short-listing phase, you need to delvedeeper. After finalizing areal estate company in Mumbai by sorting through thelist, and the project in your preferred location, check whether they have the right documents or, not. Most importantly, the project should have the RERA certification. If the project does not have the RERA approval, then back away. You can also get it checked on the RERA website itself, by entering the project details, if it has the approval then that should be a green signal for you. Also look for other documents, including the NOC certificate, the building plan. A trusted real estate company will always have the necessary documents.
Communicate with the developer
Meet the real estate company representatives and have a candid discussion regarding the project. If you have already got the brochure, then discuss the floor plan, the financial schemes, or, points you are not too sure of. Talk about the timeline within which the project would be wrapped up. Visit the construction site, and check for yourself. Is the carpet area being allotted as per the plan? Also check the kind of materials that are being used for the construction, the fittings, every tiny detailing will give you clarity regarding the company. Go through the project brochure and learn whether the utilities being promised by the real estate developersare being taken care of or, not.
Pricing is definitely going to be another crucial factor here. Before you make any move in this direction, you should learn about the real estate prices in Mumbai. Do your own survey of the market and learn what is the standard price, and also what kind of package is being available at a certain price point. Go through the pricelist and packages offered by your shortlisted companies. Also different real estate companies have different financial schemes, so if you want to opt for an EMI scheme check which scheme seems more suitable for your need. Even if you do not need any such scheme, you should still compare prices to ensure you are getting the best deal.
Conclusion: Prepare your own checklist keeping the above mentioned pointers in mind. Be careful, gather information, check reviews, communicate, and compare before proceeding. Choose the real estate company in Mumbai carefully to ensure your investment is in safe hands.