7 Procedures of Property Development Process

The procedure of property development is tricky and required efficient and experienced professionals. From buying lands to develop high-rise buildings by employing the best strategies, the real estate developers in Kolkata have years-long expertise in doing everything for you. Only skilled and experienced real estate professionals ritually follow several procedures for developing a property with success. As a client, you should be aware of the procedures too. So that, in the future you can successfully supervise the service of the hired professionals. Here is the list of basic seven procedures, which expert property developers generally follow - 

1. The Pre-purchase phase - This is the first stage in which the experts assemble their entire team and discuss securing the finance. This initial stage is crucial to the success of the rest of the development process. One of the main jobs in this phase done by the property developers in Kolkata is securing the development site and doing a thorough risk assessment. This is why this process is crucial for later success. Along with discussing the possible risk factors, the team assesses feasibilities too. This helps them to take precautionary measures timely. 

2. The purchasing and contract negotiating phase - After calculating risks and assessing the feasibilities, the developers, engage in enlisting the buyers’ agents. Then they go for selecting a suitable one and negotiate with the prices. After the negotiation of a comfort price, the team draws up the contract and then they go on buying the property. In this stage, the most pivotal task is enlisting the right agents and doing holistic background research on them. If not searched properly then problems arise in the time of buying properties and starting constructions.

3. Acquiring an approval for development and town planning - This is another significant step in which the property developers in Kolkata go through the council guidelines, enlist a town planner, acquiring the planning permission, and finally obtaining the development approval. 

4. Drawing and documentation - The fourth phase of real estate development is hiring a professional and experienced architect along with expert engineers. With their help, a drawing of the development plan is to be built and sent for approval. The estate planners should hire efficient and expert architects who have enough prior experience in drawing plans.

5. Pre-Construction - Now that the planners have acquired all sorts of approval, it is time for enlisting an experienced project manager, compare builders, and then hire one. Before starting the construction, sign a contract paper or agreement is signed between the builders and the developers. 

6. The construction phase - Finally in the construction phase, the estate builders, start the work and make planning regarding any unexpected circumstances and delays. At the same time, certification at every key stage is obtained. 

7. Completion - After a successful construction, they prefer to turn their development into a productive investment. For that decision regarding the construction and research on the potential buyers is done. Expert developers plan for achieving a long-term profit and pursue steps accordingly. 

It is not any harder to contemplate how difficult and elaborated procedure the real estate developers in Kolkata follow. Only those who are experienced and properly trained religiously follow the aforementioned steps of property development.