Established or Small-scale Builders
When it comes to building your new home you often face the question, whom to approach - Established or Small-scale Builders? The real estate market is crowded with an abundance of developers – new as well as established and there are too many great deals as well!
Every developer in each region may carry distinct advantages and drawbacks. Hence, to make an informed buying choice for your flat in Kerala, a prospective buyer must weigh the pros and cons while selecting a real estate builder. The prime real estate portal, luxurykeralaflats.com brings to you a few points to keep in mind when deciding on a developer for your luxury flat in Kochi:
RERA Certification
It is mandatory that all real estate developers register under their respective State’s regulatory authority RERA. You can safeguard your investment in the event of delayed possession, incomplete project or faulty or substandard construction in a project by a RERA-registered developer.
Credibility
A reputed developer is considered to have more credibility than a lesser known developer. This, of course, does not mean that such developers or new builders would engage in fraud. Usually, a developer with a track record of 20-30 years and an established brand name is considered to be more reliable than a new player in the market.
Price points
A brand residential project always comes at a premium price! Buying a property from an established builder would prove to be more expensive than that from a small-scale developer or a lesser-known builder.
Construction quality and amenities
With an established builder, luxurious real estate projects with better quality construction and interiors as well as additional amenities are available. The newbie builders in the market may not offer that. Also, established developers may offer warranties for the interior fixtures.
Better maintenance and upkeep of property
Generally, projects of established developers are well maintained due to their experience in servicing their already existing projects’ clients. Right from construction till the time of handover to the housing society, the developer maintains the amenities. Some developers go the extra mile and help Residents Welfare Associations (RWAs) maintain various aspects of the project including club house, golf course, swimming pool, kids’ play area and others. Investigate the builder’s track record at first before investing.
Higher resale values and wider buyer base
In the reseller real estate market, established developers’ properties have ready resale value even during a slump but both new and small developers might face difficulties selling their projects. Investors usually trust a renowned developer when it comes to under-construction projects.
Differencing features:
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