Are ready to occupy flats a good choice?

The choice between ready to move in flats or under-construction properties needs to be thought through. If you find a good property in a location of your choice, it is likely you bypass ready-to-move in property. But, considering the present situation of delays in property possession, it is not always wise to invest in an under-construction property.

There has been a steady rise in demand for ready to move flats in Kengeri and other areas of Bangalore like Whitefield. While both locations are a contrast; Kengeri is a suburb location of Bangalore with a laid-back environment of coconut trees surrounding the area and Whitefield, a very famous, upcoming yet developed area of the city. This rise in demand shows an interesting trend in the realty sector.

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There are many reasons for home seekers to invest in a ready to occupy flats in Kengeri for example.

  1. Ready to occupy flats indicate a positive trend of reality investment in the said locality. It means that people are staying there and the occupancy is good. Property buying has reached to the next level if a realtor is offering ready to move in flats. The buyer also has an advantage of sourcing information through recommendations and word of mouth publicity.
  2. Another major reason is the convenience of moving into a fully constructed flat. It means the basic amenities are in place. It also means that the area and your neigbourhood is completely developed. There will be schools, hospitals, commuting options in the vicinity. In other words, you are paying extra-money (if at all) for instant comfort of shifting to a new home.
  3. When you are investing in a ready to occupy flat, it is obvious you are not making any compromise like staying in the best locality, having recreational facilities which you desire, or checking on security. So, thus the benefit of buying a home close to your office is your prime option too. The sooner you shift close to the office, the luckier you are.
  4. Ready to move in flats are mostly ready for possession too. It means you don’t have to wait for long to switch to your desired location. It is hassle-free in comparison to investment in under-construction project. Even the reputation of the builder cannot get a possession in time, if it is not meant to happen.
  5. When you are investing in a ready-to-move property, you know the house structure exactly. In other words, it is evident to you what you are buying. You can buy an appropriate size flat depending upon your personal requirement. It saves you a lot of time in searching for a property.

While all this means a positive feedback for ready to occupy flats, one important thing is to do a ground check on the facts. It is advisable to seek recommendations, and also, check on the construction quality of your home. You should not get anything less than what you asked for, especially when huge money is involved.

How to deal with builders for property related issues

Owning a home is a milestone in everyone’s life. But many innocent buyers fall into the traps that plague the real estate business world. Dealing in real estate is a smart game as one need to keep his eyes and ears open to escape from these two-faced dealers.  One needs to be diligent to get a good deal and to buy affordable flats in Bangalore or in any other Indian cities. All legal papers in connection with the property must be verified before one signs an agreement with the builder.

affordable-flats-in-Bangalore

CREDAI (Confederation of Real Estate Developers) Bangalore, which is a charter of CREDAI India is a governing body of builders and is working towards forming a group of quality builders who sell properties and low budget flats in Bangalore to the buyers. CREDAI consists of builders who aim to provide transparency and promote real estate industry in the right way. All CREDAI members need to follow some code of conduct as if they should maintain uniform clauses for agreements on construction of the property, the timeliness in the completion of the project, the approvals, area utilization etc.

Even when all these rules and norms are present, many fall into the false traps and become prey to the frauds. It usually happens when people go around looking for cheap flats in Bangalore, and get cheated by builders who doesn’t care about quality aspects. Here are some important points to keep in mind while you deal with a builder or when your under construction property is in dispute.

  1. Approach the builder directly, as most of the builders are customer oriented. They focus on the customer’s interest always. As the builders are obliged to provide the details on the issues of the property to all customers, they have no other way than to address your concern.
  2. If the builder is not directly solving the problem, then one can approach CREDAI, if the builder is a member. A complaint can be filed in the CREDAI through the customer Redressal forum. When the forum takes up the complaint, then they will enquire with the builder and ask them to take necessary steps to resolve the issue. The builder is supposed to get back within the stipulated time mentioned. If the builder is not responding and if the matter is genuine, then CREDAI takes action like, the committee can call up a meeting with both parties.
  3. If the customer is Bangalore based and wanted to solve their property related issue, then he/she can approach other organizations like National Realtors Association (NRA) which have a branch in Bangalore called the Bangalore Nations Realtors Association India.
  4. If the builder is a non-CREDAI member, then the consumer court is the best to be approached for to protect the consumer right. They will help consumers to deal with unfair practices happening in the consumer world. The committee investigates the cases and a board decides the verdict depending on the circumstances.
  5. Legal actions are the last resort, which a consumer do to battle against the builder. But if you are filing a civil case it may take a long time to get settled.