The real estate industry worldwide is an ever-growing and ever-evolving sector that meets the demand for commercial and residential spaces. Real estate is a lucrative business in world cities such as Mumbai. This naturally means that there are hundreds of developers in Mumbai catering to the needs of buyers and investors. Given this growing number of real estate developers in the city, one might assume that purchasing property in Mumbai is a cakewalk. But this couldn’t be farther from the truth.
There are only a select few developers that have a long-standing reputation for being quality-focused and professional in their dealings. Not taking care while selecting the right properties in Mumbai could actually make you the victim of a scam or fraud. Hence, you need to ensure that you are partnering with the best firm when you purchase property in Mumbai. Remember, choosing a less experienced and reputed builder could leave you with an unpleasant property buying experience.
Following are some ways to ascertain the trustworthiness of your chosen developers in Mumbai:
- Previous projects: The most foolproof way to understand the credentials and capabilities of a real estate developer is by seeing their previous projects. The quality of construction and maintenance of these projects will serve as an indicator of the things in store for you, should you finally choose to buy a home from that builder. Most builders would willingly tell you about their previous projects if you wish to visit these sites. They could also give you references of a couple of existing customers so that you can get genuine feedback from customers about the quality of service.
- Industry standing: The perception of the builder among peers is an important aspect. The top management of the best building firms usually has an active role to play in various industry bodies. These are signs of a forward-looking firm that is genuinely interested in the overall development of the real estate sector. The developer’s focus on quality certification and standardization are reflected through certifications such as ISO and OSHA.
- Online presence and reviews: Today, customers are more proactive online than ever before. Whether it is bouquets or brickbats, you will find opinions about a business online. You could check real estate forums to read reviews of the builder or certain properties in Mumbai. An important aspect to remember here is that such forums sometimes contain false criticism as the real estate development industry is a highly competitive one. Nevertheless, if you come across any particularly worrying information online, you could always ask your builder to clarify concerns about those properties in Mumbai.
- Corporate management: The professional standing of the senior management of the firm says a lot about the corporate culture of the firm. For example, if the chairman of the firm is regularly invited to be a part of industry conventions or has received awards for outstanding contribution to the real estate industry, the developers in Mumbai can be said to have proactive corporate management ethos.