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16Jan

How to choose a right plotted development project?

Author admin 0 Comments Categories Mechanical

How to shortlist good developers?

Great, so normally what we do is go ok google check on projects available in the area where we are looking to invest and then see which all developers are having the project with all prices, different stages of development, amenities, date of handover, bank loans approved, RERA approved projects. These are basic things what we understand and now I will take you into little depth of it. So here are the points which you might already know and sometimes may be ignored..

1. How old is developer?

A new developer is not a bad developer and old developer is always a good one, vice versa.

2. How many projects are completed?

As I said if it’s new developer then you need to be little more cautioned and should always have the direct connect with the management. Understand their background and what’s the status of the project. As well as keep a check on the twice a month update on the development progress.

If the developer is an old developer and have minimum of 5 or more projects completed then do the due diligence of those projects like commencement date, handover date, delay period, services and support of developer. Never judge on delay in execution of project for 1 year as actual delay but delay is only considered if it is beyond 2 years from promise date of delivery. What are the future projects of the company?

Is it the developer company or just the marketing company (who takes marketing rights of the developers or landlords of the projects)? If it’s the marketing company then make sure you meet the real developer before entering into agreement and have all their details. Because tomorrow by chance if you getil into any kind of problems the you can directly approach the developer or the owner of the project.

These are only 2 basic things about developer which you need to understand in depth. If you are satisfied with these things then you should go ahead investing.

Hope this was useful info.. will come to next very important topic very soon and that will cover a very important information with in detail of every terminology of a project. Stay tuned

Warm Regards,

Pankaj Kumar S

16Jan

How to choose a right project for investment?

Author admin 0 Comments Categories Mechanical

While we start this topic, we need to answer ourselves on certain questions like, 1. Am I investing for my future home or purely an investment perspective? 2. What is my budget? 3. What is the time period of my investment? 4. What is the size of plot I want to invest? 5. Where should I invest, in North or South or West or East Bangalore? These are the 5 basic questions mandatory to choose a right project. I will help you out to reach a right decision..

1. Am I investing for my future home or purely an investment perspective?

If I am investing it for my future home then I will ask myself after how many years I want to build the home and whether it will have basic necessity around my plot like schools, daily need shops, hospital are atleast reachable in 10 to 30 minutes when I will be finishing building my home. So basically, major things to be looked into is if I am building home immediately then I should have all these basic needs in and around. And if I am building it later then these needs should be available at minimum distance.

PlIf I am buying a plot purely for investment then i should look into various points like Basic necessities, future developments in and around the project, any govt projects are announced and will those be operational or under development when I want to resell the plot. What kind of developments are going to come in and around like commercial, hospitality, industrial, entertainment, etc., and what kind of appreciation can be expected accordingly can be derived.

2. What is my budget?

I am a middle class man and I always think about my budget before investing. And I would prefer having a bank loan to purchase the plot and build a home. If I have a budget of Rs.30 lacs then Rs.10 lacs is for plot and Rs.20 lacs to build a home. And if it’s only for investment then any RERA approved project will have plots starting from Rs.8 lacs onwards minimum. Bangalore outskirts does have such projects and companies offering such plots with bank loans so we do not see anyone will have concern of budget problem to purchase a plot.

3. What is the time period of my investment?

If I am buying a plot purely for investment then I always should prefer low budget plots with all the approvals and RERA approval along with bank approvals as well as the investment time period should always be 6 to 8 years and above. Longer the time period better the returns.

4. What is the size of plot I want to invest?

Two things, if you are buying a plot to build a home then you are a good judge what are you looking at. And if you are buying plots for investment then always prefer for 1200 sft or 1500 sft plot. Secondly if you a big budget then divide it in multiple projects in little distance or different regions. Never put it in same project.

5. Where should I invest, in North or South or West or East Bangalore?

This question is very easy to answer if you want to build a home because you know where you to want to have your home. And it’s difficult to decide when you are looking for investment. It is difficult because Bangalore is growing 360 degrees as I told earlier. Now which is growing at what pace is important. Every area has it’s on importance and positive things. But it becomes easier to decide only when you compare the upcoming developments and govt projects starting. So always decide based on future developments happening.

Please make sure, you are not confused while making decisions. Do research, if you are confused and then arrive to a conclusion. Now, I hope you have an answer for first question. We will look into other questions in future blogs.

Thank you,

Pankaj Kumar S

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