Questions Which Will Help You Gauge The Track Record Of A Real Estate Developer

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Buying a property in Mumbai comes with a lot of challenges. Right from selecting the right location to choosing the right builder, one has to think about many factors. In Mumbai, the property rates are at an all-time high and hence, one has to be all the more careful when investing. Though financial planning takes the centre stage in buying a property, choosing one from the many right real estate developers in Mumbai is also equally important. Most first-time buyers are confused about the overall real estate buying process and hence, it is necessary to research thoroughly. Additionally, it must be noted that documents play a vital role in real estate investment. Though Mumbai has several real estate developers, it is necessary to conduct thorough research before finalizing one. A real estate developer’s track record is of utmost importance because that will influence the fate of your purchase! Here are some questions you must ask in order to assess the track record of a real estate developer.

· Is the financial status of the developer stable?

One must always choose a financially stable real estate developer. Make sure you inquire about the developer’s financials before investing in a project. The completion of the project relies heavily on the developer’s financial plan. The real estate developer you choose must have a healthy financial track record.

· Has the developer successfully completed all of his past projects?

Before you finalize a real estate developer it is necessary to check his past record. Check with the developer’s on-going and past projects to get a better idea. Additionally, it is essential to know whether the projects were completed as per the deadlines given to the investors or no!

· Does the developer have all the necessary permissions?

Check the developer’s licence before putting your money in the project. Right from height clearance to water supply approvals, a developer needs several approvals. Non-approvals can also lead to a delay in the completion of the project.

There are many real estate developers in Mumbai but make sure you ask these stated questions before finalizing one!