How to rate your home developer?

Q: Hi, now a days judging various property developers before you buy your home can be a nerve-wracking exercise.

Himani,

16th June 2014

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Hi,
Don’t need to worry. Rating agencies such as CRISIL have ways to judge the various risks associated with real estate projects. You can take a leaf out of their books when selecting your home to ensure that your money is in safe hands.

Sishir,

16th June 2014

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@Sisir,
Can you tell me which are the parameters to judge the developers? Do you think these parameters will work for a long period of time?

Jackie,

16th June 2014

@jackie,
Obviously, it will work for a long time as the CRISIL hand over a Real Estate Star (CREST) rating to projects based on a few key parameters. The goal is to judge if the project will be delivered on time while meeting the specifications. The most important economic norm when measuring risk is the developer’s track record. So, among various factors, CRISIL checks key ones such as the builder’s construction skills, the quality of their management team, their processes, financial strength and accounting standards to assess their ability to complete the project as per the specifications.

Sishir,

16th June 2014

Secondly, checks are done on construction quality control practices, like material testing followed by the builder. The experience of project consultants such as architects, structural contractors and other suppliers is also judge.

Sishir,

16th June 2014