How to do diligence on a project with no brochure

There is a version of this page that says “register and we will tell you when we know more”. This is not that page, because there is genuinely a lot you can find out right now, and none of it requires anyone’s permission.

1. The registration on the portal

Search the registered name, not the marketing name. For this project that is Shree Venkatesh Serenique Phase 1.

The record gives you the promoter as a legal entity, the declared completion date, the sanctioned layout as a downloadable file, and the filed carpet areas. That is four things the brochure does not exist to tell you, available before the brochure exists.

2. The promoter’s other registrations

The portal lists every project by the same promoter, including the ones that ran late. This is the only track record that is verifiable rather than described.

Compare declared completion dates against actual ones across their delivered projects. A firm that has been consistently a few months late is a different proposition from one that has been years late once.

3. Quarterly progress filings

Promoters are required to file progress updates against a registered project. They are public, and they are the most honest construction update available anywhere.

Read them against what a sales team is telling you. Where the two differ, you have learned something more useful than either on its own.

4. A delivered building, visited alone

This is the check almost nobody does and it is worth more than the other six put together.

Go to a completed project by the same developer, unaccompanied, and talk to somebody who lives there. Three questions cover most of it: when were you promised possession and when did you get it, what broke in the first two years and how did the builder respond, and how did the handover to the residents’ association go.

5. The land, and the road to it

No street address has been published for Serenique, which limits this one for now. When it is released, stand on the plot on a weekday morning.

Look at the approach road rather than the entrance, ask what is planned on the neighbouring plots, and ask the nearest existing society about water. In Bavdhan that last question is the one that matters.

6. Whether a bank will lend against it

Ask two or three lenders whether the project is on their approved list. An approved project means a bank has already run legal and technical diligence on the title and the plans, at their cost rather than yours.

A project no lender will touch is information. So is a project three of them have already cleared.

7. What is in writing, and what is not

At pre-launch, almost everything you are told is a plan rather than a commitment. That is not dishonesty, it is the stage the project is at.

The discipline is to sort what you have heard into two lists. Anything in a registered document or on the portal goes in the first list. Everything else goes in the second, and the second list should not be part of your decision.

What you are actually buying

With no plans, no areas and no price, the purchase reduces to three things: the plot, the promoter and the declared date.

All three of those are checkable today. Which is why buying early is a reasonable decision and buying early while believing you have information that does not exist is not.

The release ledger on the home page exists to keep that line visible. When something moves from the awaited column to the released column, it is because a document exists, not because somebody said so.