Timely project delivery depends on a multitude of factors that could push the dates back more than anticipated. A professional developer is aware of where time is accounted for and where it may stretch, and takes both into account when proposing a delivery date. Thus, truly professional developers can deliver on time, every time. But what does a timely delivery entail? The following are questions to ask project developers, or at least research about them, that expand all the factors of a timely delivery –
1. Developer’s Reputation and Track Record:
How well have their previous properties sold? Within what time? Have any of the owners faced any property-related problems since?
(a) Past Performances -
(b) Financial Strength -
Are they financially stable? Or do they have a lot of debt or have taken out multiple loans that could impede cash flow? Is it possible they could face a delay due to a lack of funds?
(c) In-house Resources -
Do they have in-house resources? Do they insource their construction teams, thereby losing control over the construction timeline? Can they not afford it by themselves?
2. Legal Diligence and Approvals:
(a) MahaRERA registration -
Do they have a MahaRERA registration or a Maharashtra Real Estate Regulatory Authority number for the project? Are their particulars uploaded to the official website?
(b) Clear Land Title -
Do they have a clear land title of the plot where the property is being constructed? Is there any ongoing dispute regarding the lack of a Clear Land Title?
(c) Construction Approvals -
Do they have a complete list of documents, all approved, both for the construction and sale of the properties? Do they have the official commencement certificate, environmental clearance, or a similar document with official approval?
(d) Occupancy Certificate -
Before you step into your property, did you get the Occupancy Certificate handed to you, the lack of which can land you in legalities and red tape when it comes to possession?
3. Efficient Construction and Operation:
Were you allowed access and welcome to do in-person site visits and inspections to check the construction progress? Were you able to personally verify that the construction was completed on time?
(a) Site Inspections
(b) Availability of Material and Labour -
Were you able to see that they had ample materials as per construction plans, and no corners were cut? Whether the supply chain itself is steady and managed in good faith?
How were they able to handle accidents, mistakes and other unforeseen events that could send the completion date back despite rigorous planning? Did they have any type of contingency plans?
(c) Unforeseen Events -
4. Contractual Safeguards:
(a) Detailed agreement for sale -
Did they have documents that provided all the details and instructions, a date for possession and a specified grace period in case of any unforeseen events?
(b) Penalty Clause -
Do they have a penalty clause in their own agreement that favours the buyer should there be any miscalculation on the part of the developers, such as delayed possession, alignment with RERA registration and compensation or refunds where appropriate?
5. Effective Communication and Transparency:
Have they kept you in the loop throughout the construction period? How regularly will you be updated regarding the construction?
Common Causes Resulting In Delay That May Crop Up:
While the developers try their best to keep to schedule with their construction, there are a few things beyond their control that could delay your possession of the property, particularly in Pune –
(a) Regulatory Bottlenecks
Delay in obtaining clearance certificates and documents due to a high influx of such at government offices.
(b) Financial Mismanagement
If the money is not calculated prior to the construction, and reliance is only on the sale of the properties themselves.
(c) Infrastructure Issue
If the site is in a small place, then connectivity and issues such as sewage and water systems become difficult to install.
Despite all these possibilities, some developers in Pune have consistently delivered on time, no matter what problems they have faced. The most prominent of those are as follows –
1. KUMAR BUILDERS:
Kumar Builders have been a construction institution for decades, with their work going back more than 60 years. They have built many buildings and projects over the years, ranging from premium houses to mid-level spaces. They use the best technology, stay up to date with new techniques, are veterans at their jobs, know all the know-how of this work, and in no way depend on outside help for their constructions. Given how many years they have worked in construction, they know the system inside and out.
Kumar Builders is a legacy, and still going strong. Nowadays, their projects are more often than not wellness-based, because they have come to realise that a home is forever and thus should cater to everything. Their experience also gives them the confidence to provide a near-accurate delivery date that they can fulfil without any problems. One can take them at their word without any worries when it comes to possession time; they will complete all the work and related formalities in time.
2. KOLTE-PATIL DEVELOPERS:
This is one of the best and reliable property developers in Pune. They have worked in the area for more than 30 years and pride themselves on almost always delivering possession to their clients within the set time. They are also involved in building townships and have delivered as per the ETD for most of the properties there.
3. VTP REALTY:
This is another real estate developer that is known for its township constructions along the Kharadi and Mahalunge areas of Pune. They have an in-house construction team that saves time by avoiding the wasted time of outsourcing. They are also known for their timely delivery of property to their customers.
4. KOHINOOR GROUP:
The Kohinoor Group is a real estate developer of Pune that is rather well known for delivering residential projects on time, particularly within the suburban areas. This is a highly trusted developer with over 40 years of experience. They have built many projects and handed over possession to their clients, almost always on time.
While there are other real estate developers who are more nationally based or have been operating in Pune for a shorter period, the above are the very best of the lot and are worth considering when buying a new property.
