How to Verify Builder Credentials Before Buying an Apartment in Mohali

1. How to Verify Builder Credentials Before Buying an Apartment in Mohali Investing in property in Mohali is a very important decision, especially because of the fast urbanization, enhanced infrastructure and the proximity to Chandigarh. With new residential projects coming up all the time, the home buyer needs to keep two important facts in mind: 1. Properties project and 2. Builder. As investors who put their hard earned money into the transaction, we always want to mitigate the risk as much as possible. If we are to recommend or consider a builder, that builder needs to be a reputable builder. A good builder means your money is secure, and you diminish the risk of legal issues, bad construction and quality issues. So check the credentials of the builder before you proceed with the transaction to avoid any financial or emotional distress. 1. Check RERA Project In accordance with the Real Estate (Regulation and Development) Act 2016, all builders and real estate developments must be registered with their respective state’s RERA authority. In Punjab, this body is known as the Punjab Real Estate Regulatory Authority (PBRERA). The steps are simple: Go to the official PBRERA website, Search for the Builder by name, or search the project, Confirm both; check the details: Project dates, approval and complaints. This is a very important step. If the builder is not RERA registered, best to avoid.

2. 2. Investigate Builder’s Reputation The builder’s past experience is a good predictor of their dependability. As you investigate, think about the following items. You can look for views on real estate forums, Google and social media for information. If you find lots of complaints or past properties that were not completed correctly, be careful. 3. Confirm Legal Documents Make sure that the builder has all of the necessary legal approvals before you purchase an apartment. These usually include: • Land title deed: This verifies that the builder has ownership of the land. • Building plan approval: This indicates the project has been approved by the local development authority. • Environmental clearance: This is important for larger residential complexes. You should also consider hiring a legal professional to research these documents for you – you cannot just trust the builder’s word for it. 4. Go to the Construction Site When a project is under construction, visiting the construction site can be helpful: • Is the construction proceeding as shown in the marketing materials? • Is the work progressing at a certain pace? • Are safety requirements and labor standards being followed? Talking to workers on the site may give you a feel for the construction culture and focus of the builder. You will also be able to compare the projected completion date against on-site developments.

3. 5. Financial Strength and Partnerships A builder that is in a strong financial position will usually fulfill obligations promptly and with quality construction. To evaluate a builder’s financial position, you might consider: • Inquiring into the builder’s financial history and scanning media coverage. • Identifying if the builder has partnered with good institutions or banks available to the public when seeking a home loan, major institutions will conduct their own vetting of builders before they partner. • Identifying if the builder has partnered with good landowners or development companies, reputable associations can indicate the reliability of a builder. 6.Get Recommendations Sometimes, the best information can be gained from those who have worked with the builder. 1. Speak with current residents who reside in the builders past projects and obtain their opinions about their experiences. 2. Ask about, post sale, support, maintenance issues and how responsive the builder is to problems. 3. Join local, online forums or community groups that specialize in real estate discussions in the area. If you’re looking for properties in Mohali, there are local resources such as facebook groups, WhatsApp communities and reddit, Quora, etc. with members providing feedback on their direct experience.

4. 7. Beware of Promotional Hype Developers will often market their developments with enticing promises such as, “no EMI until possession,” “modular kitchen only,” or “limited time discounts.” Some might be promotions worth exploring, but others could simply be promotional gimmicks to entice buyers. Conclusion In assessing a home purchase ,even though it is purely a financial decision, there is a psychological commitment. Therefore, if you are thinking about buying property in Mohali, then you would want to be dealing with a credible, financially sound, reputable and compliant developer who has a track record that meets your satisfactory criteria. Be thoughtful, ask relevant questions, conduct research, and seek help when necessary. Mohali’s property market is booming – and if you follow a proper procedure – you will have the desired outcome of finding your perfect home, through what is certainly not a stress free process. Why wait? When you can choose the best for yourself and your family, keeping in mind crucial pointers.