Real estate is the most expensive buy for common man today. Years and often, generations of hard earned money is invested in a purchasing a home. In return, the bare minimum expectation of a home buyer is the delivery of a quality home within a committed timeline.
With the advent of RERA and multiple other public compliances, the onus is on the developer to complete a project within the stipulated timeline. RERA has drastically reduced the risk experienced by a home buyer. However, homebuyers have an equal responsibility to perform diligent and thorough check of a developer’s past track record.
Similar to any financial investment where historical performance and returns impact your decision-making and future investments, in real estate too, a homebuyer is first and foremost investing in a developer’s goodwill and track record for delivery and then the product. It is neither the marketing nor the financial schemes that should lure you. Ofcourse, they can be great bonuses. But goodwill and commitment to delivery is paramount to keep your investment “in safe hands”.
With a 23% increase in sales of newly launched projects between 2022 and 2023 as per CII-Anarock Housing Market Report, the housing market is set to reach new peaks. This highlights the potential, optimism and trust of the market. Hence it is imperative for developers to professionalise their approach to real estate and for home buyers to make vigilant decisions.
