REAL ESTATE FAQ'S
  • Carpet Area: This is the area of the apartment that doesnt include the area of the walls i.e. the area of the apartment that a carpet can cover. Built Up Area: This is the area of the apartment that includes the area covered by the walls. Super Built Up Area: This includes the Built-Up Areas such as the lobby, lifts, stairs etc. This term is therefore, only applicable for multi-dwelling units, such as flat complexes.
  • Yes. The RBI may grant permission to a Foreign Citizen of Non Indian Origin / Foreign Companies if the property is purchased for residential use and the consideration is paid by way of foreign exchange.
  • NRIs can be defined as: Indian Citizens who stay in a foreign country for employment Indian Citizens carrying on their business or vacation Indian Citizens abroad for any other purpose in the circumstances indicating a definite intention to stay outside India for an indefinite period NRIs can also be : Indian Citizens working abroad on assignment with foreign governments or international agencies Officials of Central and State Government and Public Sector undertaking deputed abroad or temporary assignments or posted to their offices abroad. Indians who have settled abroad permanently or gone abroad on immigration. NRIs become residents of India once they come back to India to engage in employment, for carrying on any business or vocation, or for any other purspose indicating a definite intenstion to stay in India for an indefinite period.
  • By registering the transaction of an immovable property, it becomes permanent Public Record. Title or Interest can be acquired only if the deed is registered.
  • If you purchase a new flat within two years of the date of sale of the original flat, and invest the entire amount of capital gained into the new flat, you will not have to pay any capital gains tax.
  • Approach the Registrar of Co-Operative Societies and file the various relavent documents.
  • There is no prescribed norm for determining the market rent rate, though it can be easily found out by approaching.

BUYING TIPS

It is important to select the property depending on following criteria:

Parameter
Location Of Site:




Affordability:
Place of work:
Market place:
School:
Public transport:
Builder:
Water & Electricity:
Area:

Hospital services:
Society expenses:

Security:

Parking:
Questions to be asked
While choosing the location, you need to keep the following parameters in mind like proximity to the main roads, bus stops, railwaylines, transportation services, civic amenities like educational institutions, park, police station, temples, community hall, hospitals, and auditorium within reach.
Does the location fit your budget?
How far is the office from the desired location?
Where is the nearest market?
Where is the nearest school?
Are buses/trains easily available from the location?
Does the builder have a good reputation in the market?
Is there a steady supply of both?
Commercial areas face traffic jams during working hours and level of noise is rather high
Are they available easily?
Is the monthly outgo on the society and maintenance a strain on your budget?
Are the security systems in place, like a professional guard or electronic systems?
If you own a vehicle, you will need space to park it