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Tips for Builders to sell flats |
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Recent realty boom in India had its celestial effect on Chandigarh also. A large number of builders acquired land in its periphery and drew plans to develop large townships in Panchkula, Mohali, Zirakpur, Kharar and other areas. Appearance of full page advertisements in major newspapers inviting applications for booking of flats has been a common occurrence.
Good response and bookings are essential for successful commissioning of a new housing project. These provide finance and confidence to the builder. However, recently, many builders have been found complaining of lack of enthusiasm among flat-aspirants. The demand-supply law of economics has begun to play its role. Presently, the number of builders and the number of flats being offered by them are large while demand has receded. There are hardly any bookings being made. People are expecting a fall in prices. They have become choosy too. They are comparing the locations and specifications also. The change from a seller’s market to a buyer's market is quite evident.
Another striking feature of the present scenario is that some builders are receiving fairly good response while others are hardly getting any bookings despite making alluring promises. Builders need to know that a number of factors affect the bookings of flats with them and unless these factors are taken care off, expecting an encouraging response for their flats or apartments will only bring disappointment.
Here are a few tips for the builders to follow. This 10-point program if followed, is going to invite a better response to their housing schemes:
1. Build Trust: Good Track record of a builder impresses the people most. To build trust, exhibit previous works completed successfully in your advertisements. Reputation travels fast. When it becomes known that people living in flats built by a builder are happy and have no complaints, bookings for the next project will swell fast.
2. Choose Good location: While planning to setup a colony, keep three things in mind: Location, Location and Location. Location is one of the most important factors that speeds up the booking of flats. Proximity to a good city, connectivity and availability of a main highway, availability of telephone, availability of internet facilities with wi-fi technology, provision of cable network or DTH satellite, pollution free environment with greenery all-around and small distances from railway station, airport and bus stand matter a lot.
3. Go green: Choose a ratio of 65:35 or more for open area : occupied area. Concentrate on landscaping. Develop parks. Let there be greenery all round. Plant trees early. Must develop a jogger’s track. All these will bring a healthy feeling to the flat buyers.
4. Develop Services fast: Develop water supply and sewerage services fast. Lay metalled roads. Provide street lighting. Put sign boards showing directions and flat numbers. Complete 24X7 power back-up arrangements for essential services. Still better if you are building a market, a club and a swimming pool also. Approach district administration to make local buses run up to your colony. Let these services be in progress when flat-aspirants pay visits to your colony. The development will leave a good impression on them.
5. Develop sense of security: Provide proper boundary wall for the colony. Provide barbed wire fencing of proper design with at least 4 runners over the boundary wall. Provide gated security. Let there be round the clock guard at the gate to scan the visitors. Sense of security plays great part in tempting the buyers to buy a flat. Must take full and actually effective fire fighting measures. We are not to create towering infernos. Must train a few residents in operating the fire fighting system at the time of handing over the buildings.
6. Force Site Visits: Keep conveyance available for any one who approaches you and seeks to book a flat. Almost force him to pay a site visit through free conveyance provided by you. Keep a good guide who could explain the plus features in easy language and in a brief manner. Keep care of customer's time. The way a test ride makes up the mind of a car buyer, a site visit plays significant role in winning a customer.
7. Go for Structural Design: Must get the building designed from a competent structural engineer. Make the structures earth-quake resistant. Never adopt design evolved on basis of thumb rules. Change your mindset and drive the thought out of mind that a structural engineer will make the buildings costlier. He will rather help in saving money by providing economical RCC work.
8. Prefer Durability: Make the buildings stronger and durable. Current practice is to ignore quality and supervision and cover all defects through attractive finishes. Choose durable materials and specifications rather than brittle but attractive looking products. This will bring long term benefits. Never think that you have to pass off the guarantee period only. Let the flats be maintenance free for years to come. For this, take special care and full treatments against leakage and termite. These two problems break the back-bone of the confidence built by you among investors.
9. Earn Reasonable profit: Look for a reasonable profit only. Greed leads to doom. Produce more, sell more with less profit per unit and see your profits soar. Don't try to kill the golden eggs laying hen in one day. No body stops you from preparing realistic estimates, counting unforeseen expenses and counting escalation in prices but profits must be reasonable.
10. Observe transparency: After reading the brochures, a buyer is going to develop a certain idea of the size of the flat that he is going to own. Take care that his dream is not shattered when his flat is handed over to him. Let there be full transparency in the deal. This, if taken care of, is going to pay dividends to the builder.
Happy selling!
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