Methods of home construction are evolving In Delhi and the NCR region. Most of the plots in Delhi get developed under the collaboration method. Why is it so – When plot owners don’t wish to invest in their plots; they collaborate with a builder for the home construction.
However, selecting a builder for collaboration is one of the most critical decisions, even more than in turnkey. Why is it so? – It’s because until the construction is completed, you stay in a rented place. Additionally, in case of any dispute, you lose more as your high-value plot is at stake. Thus, practically speaking, despite the legal agreement, if anything goes wrong you will suffer more than the builder.
Quick description of how collaboration works in case you are not aware
In the collaboration method for home construction; you get into a barter-trade system with a builder. Under this method, you will hire a builder for home construction. However, you won’t pay the builder in cash. In exchange for the services for home construction, you will give a share of the property to the builder.
How you should analyze and wisely choose a builder for collaboration?
Without expert knowledge and insights; it may get challenging for plot owners to analyze how to decide on the most suitable builder to collaborate with. If you are pondering over this decision; do not worry! Prithu’s research team has listed how you should analyze and wisely choose a builder for collaboration.
The primary criterion for the selection is that the builder needs to be trustworthy. For instance, if anything goes wrong in the construction journey, will the builder also worry about their brand and reputation getting spoiled, or only you will suffer? So, the larger the name of the builder in the city (not just in the local area), the better it is.
The next factor to consider is to see whether the builder is logical and solution-oriented. Because the home building is a complex journey. Thus, you need to be assured that the builder is solution-oriented.
The next important point to consider is that the real estate market is highly dynamic. Thus, you need to see if the builder is capable of finishing the project in time, irrespective of market risks such as high inflation and shortage in sales. The financial strength of the builder should be strong and independent of external factors.
Additionally, there needs to be transparent paperwork covering all the essential aspects so that there are no points of confusion in the future.
The last and most important factor to consider is that the quality of the house should be the best so that you don’t have to suffer after the house is delivered. For instance, many examples come up in Delhi, where the builder reduced the work quality in order to cut the cost. But, in such cases, the owners suffer after the handover of the site. Thus, you should be able to liquidate the rest of the floors at a high price in the future.
Prithu Homes offer collaboration services for plot owners in Delhi NCR. Please Click here to know more about What Prithu Offers in collaboration. To study our collaboration services in-depth, please read our five-minute deck on collaboration