Investing in a property is a crucial decision, but its smart execution must also be prioritized. Despite the evolution in the real estate segment, discrepancies in project management persist. This is only when the unregistered projects that don’t comply with the RERA guidelines are invested in. After the implementation of RERA, most home buyers and corporate investors faced inconvenience due to project delays, and financial losses were reduced. On a practical note, identifying and evaluating the red flags or major issues related to land procurement requires expertise and in-depth knowledge. Thus, to bridge the gap between buyers and the builder, RERA consultancy in India plays a vital role in accomplishing land due diligence.
Land due diligence is a comprehensive assessment of the land to uncover the major hazards, legal issues, disputes, or any other issues during the lifecycle of a project. In simple words, environmental hazards, disputes, ownership issues, and bad comps can influence the RERA registration as well as project approval. Let’s simplify these red flags of RERA registration for speeding up the RERA registration of the real estate project.
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Detailed assessment of the red flags related to land in RERA registration
It is indeed an exciting moment to celebrate when a land is being invested in. Whether it is the allocation of funds in the investment for residential or commercial projects or property ownership, the level of happiness is relatable. Nevertheless, before proceeding with the project management, it is advisable to get familiar with the underlying issues related to land before making an informed decision. Unlike the traditional real estate transaction woes, RERA compliance protects you from fraudulent or misleading projects.
Here’s how the expertise, profound knowledge, and experience of RERA consultants in India address the red flags in the land due diligence:
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Improper documentation or missing documents
What you should know: If there is no clarity in the documentation, or any documents related to the project are missing, then this may indicate legal trouble! In short, it is important to invest in the project after ensuring that it has been legally documented & verifiable.
Why this red flag needs to be addressed: The hidden clauses in the real estate transaction, potential hazards related to the project, non-compliance, and ownership-related issues may affect the buyer if the documentation is not verifiable.
How to make an informed decision: Partnering with the seasoned RERA consultants in India will be a wise step to make sure the project is documented. Based on the assessment, the RERA experts will recommend to buyers how to proceed with the investment. Alternatively, builders can seek the assistance of the legal team of RERA consultancy in aligning the documentation goals with RERA registration.
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Infestation or contamination of soil
What you should know: If this issue related to land is overlooked, damage to the property, wooden structure, and health hazards can be experienced.
Why this red flag needs to be addressed: At present, sustainability has been adopted by the modern real estate developers, hence, this land issue is a result of non compliance or property documentation. Therefore, it is the right of the buyer to ensure that the land is free of pests, insects, or any other kind of infestation.
How to make an informed decision: The extensive legal knowledge, proven track record, and the RERA accreditation of professionals are altogether blended by the experts to execute land due diligence. Therefore, the trusted RERA consultants in India help clients in uncovering this red flag related to the land. The whole idea is to protect buyers from choosing the land infested by pests and insects.
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Bad comps
What you should know: The consistent non-compliance with RERA guidelines, previous track record of unfinished projects, unclear project delivery timelines, and misleading advertisement promoted by the builder are some of the issues related to bad comps.
In simple terms, bad comps are projects with poor history, non-compliance, and known lack of transparency.
Why this red flag needs to be addressed: According to RERA, every builder has to adhere to the updated guidelines. But due to the non-compliance, lack of transparency, and poor record of construction, the bad comps may not obtain RERA approval smoothly.
How to make an informed decision: From the above information, it is clear that bad comps should not be invested in. The top RERA consultants conduct due diligence and help clients in uncovering this red flag related to the property. Hence, buyers are protected from partnering with bad comps through comprehensive legal & land due diligence.
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Foundation cracks
What you should know: Structural problems or an improper construction approach adopted by the structural engineer can be among the reasons behind the foundation cracks. It also implies that the modern construction practices, expertise, and precision have been overlooked by the builder. As a result, the visible foundation cracks are witnessed by the home buyer.
Why this red flag needs to be addressed: If the property with foundation cracks is invested in, then the frequent repairs and additional expenses may be lined up in future. To be specific, financial loss incurred due to foundation cracks can be avoided through professional land due diligence.
How to make an informed decision: The detailed assessment of the property, land due diligence, legal due diligence, and project management are addressed by the top RERA consultants in India. Thus, buyers can stay at ease while this red flag in a real estate transaction gets checked by the experts.
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Lack of ventilation
What you should know: Inadequate ventilation of a property may lead to moisture problems, poor air quality, and mold growth at home. Hence, this red flag related to land needs to be inspected before the execution of a real estate transaction.
Why this red flag needs to be addressed: If a home buyer invests in a property located in a high-humidity area, then, lack of ventilation can attract multiple consequences. This is precisely where the RERA consultancy in India comes into the picture to protect home buyers through a comprehensive land due diligence.
How to make an informed decision: Uncovering this red flag related to the land while investing can bring peace of mind to home buyers. The seasoned RERA consultants employ best practices in land verification and project assessment to help home buyers make an informed decision.
The Bottom-line
Are you planning to buy a new home? Partner with V3 Infrasol, the leading RERA consultancy based in India, to uncover all the red flags of land, thereby making your investment secure. Alternatively, if you are a builder, our legal and land due diligence services can help you address these red flags. After a detailed report about the issues of land or other legal discrepancies, our professional RERA experts will recommend a roadmap towards RERA approval. Browse our services at https://www.v3infrasol.com/ and make real estate transactions, secure and RERA compliant!
