Real Estate Developer in Belgaum
They say it takes a whole village to raise a family. Well, it takes more than just dreams to make a home too. There are people who want to buy a home, there are those who want to sell theirs or their land and then there are those who connect the two by actually building that home. Real Estate Developers play that crucial role of buying land, getting all documents cleared, planning a property with all its amenities by incorporating latest technology, design trends and using state of the art construction materials and techniques. They have to bear in mind the customer’s needs, quality standards and cost for the same, all the while ensuring that their property gets sold quickly and they can focus on the next project. Belgaum is fast booming in the real estate sector with plenty of old houses coming up on the market for sale which can then be developed into large complexes- both commercial and residential. Apart from this, Belgaum also has a large land bank in the suburbs with areas like Majgaon, Macche, Halaga, Ganeshpur, Kanbargi which offer open plots.
Real Estate Developer in Belgaum
A real estate developer can both be a single person or a group of persons who are partners in a company. Belgaum has quite some Real Estate Developers who have gained repute by providing excellent quality projects over the years and earning the credibility of the customers. Just about a few years ago, a real estate developer in Belgaum normally handled individuals who wanted to build a house on a plot they had purchased in the outskirts like Ganeshpur, Bhagyanagar, Rani Channamma nagar, Srinagar, MM Extension, etc. Of late, the trend has been to acquire old buildings, old bungalows/ houses and develop the property into a residential or commercial complex. This trend has picked up to a large extent now, so much so, that almost the entire repertoire of a real estate developer in Belgaum comprises of such projects.
Who is a good real estate developer
A customer does his background check before choosing a real estate developer when he wants to sell his land or buy a property developed by the company.
- All reputed Real Estate Developers are registered under the Real Estate Regulation Act ( RERA ) and associated with CREDAI ( Confederation of Real Estate Developers’ Associations of India) to bring in utmost transparency in their dealings. A developer without a RERA registration may not offer you all the transparencies in the deal.
- A good developer is one who deals in a transparent way while buying land as also with his customers while selling property.
- He ensures that all papers and documents are updated, clear and with all the necessary permissions and clearances in hand
- He consults with reputed lawyers, structural engineers, designers, architects, landscape artists and financial institutions with a good track record
- His website, video , advertisements or brochures give a clear understanding to the customer of the plan, carpet area, FSI, Built up area and such things which a layman may find difficult to comprehend. Once declared, he does not make any changes in the layout or the approved plan without intimating the concerned authorities or the customer.
- He charges a reasonable cost for his property and ensures utmost satisfaction of the customers
- He keeps on his word of delivering the said property in time and if not possible, pays interest on the amount paid by the customer.
- He never cuts costs on the design, décor, amenities, spaciousness, quality fittings and the like because it is in the details that quality lies.
A real estate developer has to have a clear understanding of the geography of the city’s landscape. Localities with ample underground water table, localities with already developed amenities like roads, electricity, piped gas, piped water, bus facility and nearby markets and hospitals are coveted areas to develop a residential property. On the other hand, places in the business district, streets where people flock to make purchases, newly developing areas with frontage and wide roads for parking are most suitable for commercial projects.
A reputed real estate developer understands that communication is the key for customers and hence, is available for clarifying any doubts of the customers or multiple site visits if required. This builds up credibility and ensures smooth functioning of the project.
A large project almost looks like a mini village when the work is in full swing. There are the masons, carpenters, supervisors, plumbers, electricians and several other helpers who put in their efforts. The real estate developer must have his own team of all these workers plus multiple contacts to ensure work never stops in case someone doesn’t turn up.
All real estate developers have to face the tricky situation of holding landbanks and properties till they are sold. This involves huge investments. Many times, they have sought finance from banks and consortium which they have to pay interest for. Then there are the volatile market conditions, where there is a cyclical boom and low periods. In case of delay in project completion, they have to pay customers interest on the money they have already paid. Unsold properties can have their value depreciated over time. Notwithstanding anything, the developer has to keep offering new projects at different locations and different price points to its customers. This ensures that the company has something for people of every budget.
Real estate projects come with a demanding schedule and grueling times for developers- from start to finish. There are several stakeholders involved. Time is of essence and so is transparency. When all this is handled deftly, a real estate developer is much sought after by the clients because they are sure that when they opt for a property developed by a particular real estate developer, they will always get the best deal. Many times, developers not just develop properties, they also develop family like relations with their customers. This, is a true sign of success for any developer- the happy customers. Then there is no need for any advertisement or promotion when quality and reputation speaks for itself.