What Are The Top Responsibilities Of A Real Estate Builder In India?

19
Jun

What Are The Top Responsibilities Of A Real Estate Builder In India?

Over the last year, the real estate sector in India has witnessed major reforms. From the Goods and Services Tax (GST) to the Real Estate Regulatory Authority (RERA) Act, a greater level of transparency, accountability and efficiency has been introduced into the system. As a result, the real estate projects and builders who have withstood these regulations are indeed the best of the lot.


If you’re looking to identify the top real estate developers and builders, then make sure that they have fulfilled each of the following responsibilities:

1. Obtaining a license: Before embarking on any kind of infrastructural development, the real estate developer must procure a license from the concerned local authorities.

2. Registering with RERA: All the projects by the builder must be registered with RERA in order to ensure the quality and reliability of the undertaking.

3. Legal and statutory clearances: The builder must ask to be granted permission and clearances for various development activities that include excavating clearance, NOC from the civic department, lift installation clearance, water and electricity supply clearance, etc.

4. Insuring the project: To ensure the quality of the construction and to protect the owner against any defects or risk in the construction, the builder must own a risk insurance policy and a liability insurance policy.

5. Delivering top quality construction: The builder must complete and deliver the project on time and must adhere to the prescribed quality standard at all costs. The ethical utilization of funds towards this purpose is a must.

6. Storing the construction material properly: During the process of construction, it is incumbent upon the builder to store the materials correctly in order to preserve the same and to prevent any inconveniences on the roads around.

7. Ensuring the safety of workforce: A responsible builder will always look out for the safety of the construction workers and will take adequate measures to ensure their safety.

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