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Your ‘Peace of Mind’ Checklist

Friday, 31 January 2014 - 12:37pm IST | Place: Mumbai | Agency: DNA
Focus on these key parameters to evaluate the transparency and commitment levels of a developer.

They say worry is interest paid before it is due. Peace of mind, on the other hand, is free. However, when it comes to purchasing a new home, or identifying a developer for redevelopment, the worry word seems to loom large on the horizon while peace of mind remains elusive.

So how does one make the transition from one to the other? Simple, you make a checklist with parameters that will enable you to rate developers and their ability to deliver projects. Opting for those who rank high will obviously give you peace of mind while worries will just fade away. So let’s look at aspects that can make all the difference.
1.     Experience and expertise.
2.     Adherence to updated norms
3.     Complying with all formalities
4.     Systematic, time bound approach
5.     Ability to deliver as committed
6.     Clarity on exactly what will be provided
7.     Transparency in all monetary dealings

While comparing developers, these are the aspects that can help you identify those who can ensure your peace of mind going forward. A case in point is Mayfair Housing, which is considered to be among the leading brands when it comes to this crucial factor.

Quiz Nayan Shah, MD & CEO, on his formula for providing peace of mind and he gives a one-word reply - transparency. “Our approach towards all our stakeholders are driven by transparency and approachability. We ensure there is transparency in five key aspects; title, carpet area, approvals, possession and pricing. Carpet area is known to customer and pricing is based on the carpet area.

All the plans are approved first and only then, do we offer our flats to customers. Title documents and all approvals are shown to customers. We specify the exact date of possession and the exact finished product that would be delivered. We have displayed our title, approval, legal documents in scan copies on our project website which available for general public at large to check and verify.

We are the first developer to voluntarily comply to the proposed Maharashtra Housing Regulatory Authority Act 2012 (state) and Real Estate (Regulation & Development) Bill 2011 (Central),” he explains.

Experience and expertise are again, aspects that give Mayfair customers a comfort level provide customers a high comfort level. Mayfair Group was established in 1964 and is entering its 50th year of operations. With 16 housing societies already redeveloped and 23 currently under redevelopment, housing societies are assured that the modalities will be taken care of and any possible hurdles, managed effectively by taking proactive steps.

The knowledge that you will get possession of your flat on time, in a building that has been constructed using modern technology and quality materials, in adherence to all the norms with the exact area promised, is a concept that is increasingly becoming a reality in Mumbai. All it requires is a bit of home work!  

They say the proof of the pudding is in eating it. We also asked office bearers of housing societies to share their real life experiences of the redevelopment process. Read on...

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