Tips for builders for new real estate projects

Key prerequisites:

• Make sure that you have all the legal documents ready and all the govt. regulations fulfilled before the project starts. Otherwise the project can be mired in long legal battle and result in significant financial loss.
• A happy local community is very important for the success of the project. Bad relationship with the local community may result in political and legal complication later on, something as a builder you should avoid.  

 Site specific features:

• Clear demarcation of the site with site properly maintained and cleaned to lend a good first impression to the visitor.
• Prospective buyers need to find your site easily. In India the direction is given with respect to nearest big landmark. Clear directions should be available from key near landmarks. Registering at residencebuy.com allows prospective clients to locate your project location in Google map.
• Provide basic site amenities to give a good first impression to the buyers. Having a clean office with professional receptionist, air conditioning, good sitting arrangement, and adequate refreshment goes a long way towards creating a good first impression.
• It is useful to have courteous support staff who treat customers with respect and diligently follow up for next steps.
• Having a scaled model of the completed project at hand provides the buyer a complete picture of their future abode. Premium builders at residencebuy.com can upload their project details in our site for the prospective clients.  

Other key factors

• Provide the availability chart for all the buyers to see and choose their property.
• Keep the copies of sales agreement and other legal documents to be signed (by the buyer) ready so that the buyer has a good idea about the exact requirement.
• Pre-approval by a lender is a very important consideration as it simplifies the buying process and makes the project more attractive.
• Clearly stating and maintaining a timeline is a key part of any project management. Having strictly defined completion milestones is essential for a timely completion of the project. It also often keeps cost overruns under tight control and increases the profitability of the project. Moreover this will also build a long term reputation for future projects.  

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