What are the construction companies in Bangalore?

 

Cities like Mumbai, Delhi, and Kolkata have been top choices of cities where an individual will think of settling in. Bangalore, however, known to be the Silicon Valley of the country has been the fastest growing city, with a population of more than 9 million people of all kinds of ethnicities; it has and will be the center of attraction for the real estate sector with a lot of construction companies with a wide variety of options at your disposal.

Top construction companies in Bangalore are companies like

✔ SOBHA
✔ BRIGADE
✔ PRESTIGE DEVELOPERS
✔ VYSHNAVI DEVELOPERS
✔ CONCORDE GROUP
✔ GMR INFRASTRUCTURE
✔ MANTRI DEVELOPERS
✔ EMBASSY GROUP and so on.

To make things easier, the government has implemented rules and regulations that a reputed construction company will follow to deliver to the best interest of customers. As matter of fact, for an individual, buying a home is a major milestone and if there is a system that is followed there will be guaranteed results.

The Real Estate Market has grown at a rapid pace in the past couple of years. India’s real estate sector, which includes the housing, retail, hospitality, and commercial sub-sectors, is one of the largest contributors to jobs in the country. There have also been a lot of regulatory improvements to make the market safe and affordable for home buyers. Reputed construction companies in Bangalore are the ones who have gained a loyal following of customers for their projects, by delivering what was promised with all required amenities.

Top construction companies in Bangalore that you can trust, with your money?

There are basically 2 entities that are a market for construction companies in Bangalore, which are the residential market and the commercial market. Bangalore has been an active space for the residential market, and now because of the sustained demand is seeing a surge in the commercial space also. For the above question, as to which construction company you can trust with your money, here are a few ways which will help you scrutinize things better.

1. RERA (Real estate regulatory authority)

✔ It is such a regulatory body that has been involved in keeping track of construction companies in Bangalore and safeguarding the interest of home buyers during the period of construction.

✔ RERA was implemented in 2017, and almost all states have set up the regulatory body now. All top construction companies follow the rules and regulations set up by RERA to obtain the occupancy certificates for projects (OC). Once the OC is obtained there is no risk for the home buyer, in turn helping better cash flow and trustworthiness in the industry. It is no doubt that implementation of reforms like RERA and GST has brought significant improvements in the market.

✔ Top construction companies in Bangalore and India have to follow the set of rules laid down by these authorities to deliver the end product.

✔ According to research conducted recently, it has been seen that more than 870 Projects were launched in the year 2018 in Bangalore, out of which majority of the new supply targeted the middle class, job going individual to own a house in Bangalore.

✔ The number has seen a significant rise since 2018, citing a good response from that particular audience. Affordable houses were built with a cap of 18 Lakhs to 32 Lakhs, which were primarily for the mid-segment and less than 50% was for the affordable segments and the luxury segments where the cost of flats varied from 70 Lakhs to 1 Crore and above.

From the buyers perspective, you must be able to choose based on your requirement, refer our Blog on How to understand the best apartments to buy in Bangalore in 2020 for a more. We at GR group, believe in delivering to the needs of the customer, and hence provide a variety of options under the various residential and commercial projects we have undertaken so far.

How to specify the scope of a top construction company in Bangalore?

As discussed so far, the scope of the top construction companies in Bangalore can be determined with respect to the type of service and the final product delivered. Top construction companies will follow all regulatory measures from the competent authority for their projects. All residential projects have to have an OC, to determine the genuineness of the project, and to protect the interest of the buyer. As we’ve mentioned earlier it is to reduce the risk of the buyer.

There are more than 500+ construction companies in Bangalore that have not been able to sustain these regulatory measures and have had to suspend operations of the on-going projects, in a way helping buyers to assess the scope of the construction company. The companies that have sustained these measures are the ones that have been following these regulations and in turn, are delivering the best in class homes to their buyers.

The occupancy certificate will determine and help the buyer to know if the project has all the required legal documents from the competent authorities and there are no legal implications on the project. The scope of the top construction companies also can be determined by the age of the company and their reviews in the market for the projects developed in terms of quality and pricing of the flats.

Being in the real estate industry of Bangalore for more than over a decade, it is our goal to provide the best in class service and product to our home buyers, for them to purchase their dream home in the city of Bangalore.