Realty – ads, meaning and buying criteria

What they say: Terrace
What it means: The terrace as they call it, is a 4×4 sq ft piece off land that is just enough to accommodate a few plants and two chairs. But in the pigeonholes that we live in, even a small terrace is nothing sort of an indulgence.

What they say: Garden facing flat
What it means: How many gardens have you seen in Mumbai? They are a few that you can actually count on your fingers. The aforementioned garden is going to be an apology for a garden. A few greens here and there do not constitute for a garden. So, your flat is going to be facing a few trees and maybe a swing, if you are lucky.

What they say: Quality fittings
What it means is you might like the sound of Jaguar or Parryware or Marc sanitation but chances are that these fittings are duplicates. So, make sure you check them carefully before buying a flat. Also, the geysers and boilers installed in the house might start leaking in a couple of months once you start using them. The aluminum used in the sliding widows might also be of poor quality, which will soon start rusting.

What they say: State-of-the-art amenities.
What it means: Almost each and every property ad today scream of possessing state-of-the-art amenities. And there those misguided souls who get taken in with such lines. Give it a thought, amenities such as an elevator opening in your house, fully air conditioned lobby decorative entrance – what use are they ever going to be to you: Given a choice we are sure you would rather forego these and buy a house at a cheaper rate. So check what you are investing in.

What they say: Swimming pool and clubhouse.
What it means: You have to shell out extra every month. The advertisements may lure you into owning a home with a clubhouse, an amphitheatre and a swimming pool. However, just think how often you are actually going to make use of these facilities and compare that with the handsome amount you have to pay every month in the form of maintenance charges. You may find that you can make do without these. But those who can afford to, please grab these houses, as they are rare to find in Mumbai.

What they say: Fully furnished flats
What it means: They are big clinchers just imagine not having to spend on the interiors. But it is a big one but check whether the interior is really free and not just an advertising gimmick.

Find out what is the property rate in that area and tally with the rate of the flat you plan to buy. If it is more then just look for another house, because paying of something that you have no say is a bit foolish. You would rather buy a cheaper house and do it up the way you like.

The quality of civil infrastructure and finishes are very important determinants in the assessment. Therefore, rating agencies will thoroughly examine the extent to which the developer’s services are integrated; the level of after-sales services; timeliness of construction and the adherence to stipulated costs.

a. Structural quality: The ability of the developer to translate the plan into a sound civil structure is examined. This depends on the quality of labor and material; the cost and project control mechanisms in place. The track record of the architects, structural engineers and contractors is also evaluated.

b. Civil infrastructure: Rating agencies thoroughly check if the approach roads, sewerage, water and electricity systems, parking facilities and security system are designed to meet the planned standards.

c. Finishes: Often the developer does not specify, in advance, the quality of the materials used in internal and external finishes. The developer’s willingness and ability to deliver better finishing is assessed.

d. Integrated facilities: A key factor is the extent to which the developer has integrated facilities. Developers, who are personally responsible for carpeting, fabrication and transport are much more accountable than those who use “third parties”