Investing has a huge impact on your financial condition, so whether you are buying a property for your end use purpose or for investment, you really have to be extra cautious while determining on a real estate project that is right for you.

More importantly, while buying a property, you must not only look for aspects such as quality construction, layout design, amenities offered and connectivity to key locations but must also confirm that the builder of the project has a good track record in the industry; this is particularly important in India as the real estate industry is an unregulated one, and selecting the wrong developer can endanger your financial investment in the long-run.

Below are some recommendations that are sure to help you choose the right builder with a healthy reputation

Ratings by CREST and CREDAI: Crisil Real Estate Star Ratings (CREST) of a project can help you judge the quality of the project and the efficiency of the builder who is building it. CREST rates developers on the basis of the quality standards maintained in the previously completed projects and adherence to completion timelines.

You must also see if the builder is a member of CREDAI (The Confederation of Real Estate Developer’s Associations of India), as all reputable builders are a member of this apex body of real estate developers in India.

Track record of the builder: A smart way would be to check the builder’s reviews on popular real estate forums. On such online forums, you can discuss with consumers who have bought property in the builder’s preceding projects. Such an act would help you gain knowledge about the builder’s professionalism as well as the quality of construction that you can expect from his projects.

In addition, this will also help you anticipate if this builder will stick to the timeline he has committed for the possession of the project. It is suggested that if possible visit some of their completed projects as it will help you take a step that is safe and secure.

Legal approvals and certifications: More or less all reliable builders possess an ISO 9001:2008 certification, and it is highly advisable that one looks for this certificate as it is a mark of adherence to quality standards and ethics while zeroing down a project by a particular developer or builder.

Likewise, you must check all other certifications and legal approvals that the builder possesses. Also, check if the blueprint of the project plan is already approved by the concerned authorities and the builder already has got all the required approvals from the authorities for the smooth and timely commencement of the project that you are investing in.

Financial stability: It may sound a bit illogical, but you can ask for the profit and loss report of the builder for the past 2-3 years to check the financial health of the builder. Many reliable builders do not hesitate to provide this document to potential buyers and it will surely help you evaluate the financial stability of the builder, helping you to make an informed decision.

You must evaluate all possible avenues that will help you determine a builder who is professional and reliable.