5 reasons why reputation of the builders is important- a perspective for home buyers of ‘one apartment per floor’ 3 BHK exclusive homes in Hyderabad
Buying a house is an important decision that involves factors like budget, family needs, the type of house, the location, and expectations about the kind of lifestyle you need.
In Hyderabad, you have a strong market for small standalone buildings where apartments are constructed on a plot size of 400 sq. yds. To 2000 sq. yds. These standalone building apartments could be ‘cluster living regular apartments (2, 3 or 4 apartments per floor), or the more exclusive ‘one apartment per floor’.
In fact, the ‘one apartment per floor’ apartments is constructed in small plot sizes ranging from 400 sq. yds. to 600 sq. yds. These independent, exclusive floors are more expensive than their cluster-living regular apartments. The reason is simple- you would normally have 5 exclusive residence apartments in small plot size. Only 5 families can stay in these exclusive residence apartments in Hyderabad since GHMC permits only 5 storey apartments built on small plot sizes. Hence, the cost of construction, as well as amenities like power back-up, parking, stairs, elevators (lifts), and all other features/specifications, is shared between the 5 families in these ‘one apartment per floor’ residences.
Here we are discussing important factors that help you choose the right builder in Hyderabad for this ‘one apartment per floor’ segment!
The moment you start looking out for properties in this ‘independent-floor’ segment, you must evaluate the offering of various builders. A reputed builder in this segment will demonstrate the ability to add a lot of value to the property.
A builder must be thoroughly assessed based on past projects, timely completion, and quality consciousness. The developer of property you are considering must possess all the right credentials, permission for construction, etc. The builder must make your home, both, in accordance with the law, and also with a lot of love!
1. Timely completion of past projects
RERA defines that it is the prime responsibility of the builder to finish their projects on time. Smaller projects do not come under the purview of RERA, however, they need to be approved by GHMC in Hyderabad. Reputed developers give timely possession. You must be confident of receiving the keys to your home on time. Check if the builder scores well on this parameter!
2. Following the GHMC checklist and provide ‘evidence of statutory permissions’
Do check if the builder is registered with RERA, and has a permit from GHMC to carry out construction. This must be checked before applying this one factor before choosing any developer. The builder in Hyderabad must be able to provide you with- 1) Building permit from GHMC, 2) Soil test report, 3) Water test report, and 4) Survey report
3. Modern and relevant amenities to give you the luxury quotient
Having relevant amenities like car parking, power back-up, elevator access, water and sewage provisions, security, and high-quality specifications needs to be checked. If you are paying for a ‘one apartment per floor’ residence in Hyderabad, you are actually spending much more than a regular apartment.
You must get high-quality, branded elements in every aspect of your exclusive home. Unless branded items are used, both in construction as well as specifications, you will not realize value for your money. After all, an exclusive apartment is intended to give you a spacious, high lifestyle quotient
4. High ROI with a luxurious ‘one apartment per floor’ unit
This works in your favor when you wish to rent out your home or sell it in the future. These ‘one apartment per floor’ projects are usually located in well-established and preferred localities which are considered upscale. In Hyderabad, you find these in some of the best areas like Jubilee Hills, Kukatpally, Gachibowli, Kompally, Sainikpuri, Yapral, Uppal, and virtually the entire Hyderabad. These localities would usually be popular and have good connectivity besides providing you with a secure and discerning neighborhood.
This makes for high return investment in a property that’s exclusive and luxurious.
5. Easy home loan sanctions
With a reputed builder, the probability of a loan being sanctioned are higher. The banks repose greater trust in reputed builders with a track record of timely completion of projects.
Hence, a builder’s reputation matters!
A good reputation comes with a builder keeping promises and demonstrating ‘strength of character’ by being committed to quality & customers.
Once promises are kept by the builder, the obvious outcome is trust and reputation!
To quote Benjamin Franklin- “It takes many good deeds to build a good reputation, and only one bad one to lose it.”