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What is a Carpet Area?
The carpet area is the actual usable space within your property’s walls, excluding the thickness of the walls. Imagine it as the area you could cover with a carpet. It represents the living space you’ll truly utilize.
What is a built-up area?
The built-up area is the total covered space within a building’s walls, including the carpet area, the thickness of walls, balconies, and other usable spaces like lobbies. It’s typically larger than the usable carpet area.
What is a super built-up area?
The super built-up area is the total space you’ll be paying for, including your apartment (built-up area) and a share of common areas like hallways, amenities, and lobbies.
What is a floor plan?
A floor plan is a scaled drawing, like a map from above, showing the layout of rooms, walls, doors, and windows on a single level of a building.
What is a Possession Date?
The possession date is the key date you can move in! It’s typically outlined in your agreement and signifies the completion of construction and handover of your property.
What is an Agreement for Sale?
An Agreement for Sale is a preliminary contract outlining the terms of a property purchase. It specifies the sale price, possession date, and other conditions before the final ownership transfer.
What is a vitrified tile?
A type of durable, glazed ceramic tile often used for flooring due to its water resistance and easy maintenance.
What is Total Consideration?
The total consideration is the entire amount you pay to acquire a flat. It includes the base price, any parking charges, and other fees mentioned in the agreement.
What is Force Majeure?
Force Majeure is a clause in contracts that excuses unforeseen events beyond anyone’s control, like natural disasters or wars, delaying or preventing obligations (like completing construction) without liability.
What is Completion certificate?
A completion certificate is a legal document issued by a local authority certifying that a building project has been constructed in accordance with approved plans and meets all necessary safety and building regulations. It signifies the project’s completion and allows for occupancy or operation.
What is Possession letter?
A possession letter is a document issued by the seller (builder or developer) to the buyer acknowledging the transfer of physical possession of the flat. It signifies the buyer can now move in and occupy the property.
What does G+4 mean in a building description?
G+4 refers to the number of floors above ground level (G). It indicates a ground floor plus four additional floors.
What is a super built-up area?
The super built-up area is the total space you’ll be paying for, including your apartment (built-up area) and a share of common areas like hallways, amenities, and lobbies.
What is the difference between 2BHK and 3BHK apartments?
2BHK has two bedrooms, a hall, and a kitchen, while 3BHK has three bedrooms, a hall, and a kitchen, providing more space and privacy.
How do I know if a project has legal approvals?
Check for approvals from local authorities such as building permits, occupancy certificates, and compliance with zoning laws.
What are the common amenities provided in residential projects?
Common amenities may include lifts, parking, power backup, water supply, security, landscaped gardens, and recreational facilities.
What documents do I need for property registration?
We’ll guide you through the process. Typical documents include sale agreement, allotment letter, occupancy certificate, and completion certificate.
What are the charges associated with property registration?
Registration charges vary by location and property type. We can provide an estimated cost upon request.
What are considered extra charges during construction?
Deviations from the agreed-upon plan, additional material upgrades, or unforeseen site conditions may incur extra charges.
How will I be informed about extra charges?
We’ll provide written change orders for any agreed-upon modifications before implementing them.
Can I negotiate extra charges?
Depending on the nature of the change, negotiation may be possible. We prioritize transparency and will work with you to find a fair solution.
What taxes do I need to pay for property purchase?
This depends on your location and property type. We recommend consulting a tax advisor for specific details.
Are there any tax benefits for first-time homebuyers?
Certain government schemes offer tax deductions for first-time property purchases. We can provide relevant information.
How will you handle tax deductions applicable to construction costs?
We’ll provide the necessary documentation to support your tax claims as per regulations.
When can I expect possession of my property?
Possession timelines vary depending on project complexity. We’ll provide a detailed schedule in your agreement.
When can I expect possession of my property?
Possession timelines vary depending on project complexity. We’ll provide a detailed schedule in your agreement.
Can NRIs invest in Indian real estate?
Yes, NRIs can invest in most residential and commercial properties in India.
Are there any restrictions on property ownership for NRIs?
There may be restrictions on agricultural land or farmhouse purchases. We recommend legal consultation.
How can NRIs manage their property in India?
We can help you appoint a nominee or property management company to oversee your property.
Can I take possession of my flat before registration?
In most cases, NO. Possession typically happens after registration is complete. This ensures legal ownership transfer before you move in.
What documents do I need for taking possession of my flat?
This may vary, but commonly required documents include the occupancy certificate, possession letter from the builder, and a copy of the registered sale deed.
What happens if the builder delays possession of my flat?
Review your agreement for clauses related to delayed possession. You may be entitled to compensation for the delay depending on the terms. It’s advisable to consult a lawyer if facing significant delays.
What documents should I verify before buying a flat?
Verify ownership documents, approved building plans, completion certificate, sale deed, and encumbrance certificate.
How are maintenance charges calculated, and what do they cover?
Maintenance charges cover common area upkeep, security, utilities, and amenities, usually calculated based on square footage or flat size.
How can I assess the construction quality of a flat?
Check for quality of materials used, construction reputation of the builder, and certifications like ISO for construction standards.
What safety measures should a residential project have?
Safety measures include fire exits, earthquake-resistant design, adequate lighting, security systems, and compliance with building codes.
How important is the location when buying a flat?
Location is crucial as it affects convenience, resale value, and lifestyle. Choose a location that suits your needs for work, schools, and amenities.
What should I consider about the neighborhood before buying?
Consider factors like safety, proximity to essential services, noise levels, and community atmosphere.