Q1. What does Private terrace in a flat mean?
Ans: – Flats would be provided with open to sky area with access from within the flat. This is called private terrace and can be used only by the occupants of that particular flat.
Q2. What are the checks that has to be done while finalizing a flat in terms of the building?
- Approved plan of the building along with the number of floors.
- Ensure that the floor that you are buying is approved.
- Check if the builder has the right to put up structure over the land-Either as owner or as a contractor.
- If so, check the title of the land ownership with the help of an advocate.
- Check that the builder is building without any violation of front setback, side setbacks, height, etc.
- Check specifications given in the agreement to sell.
- Check the reputation of the builder.
- Ensure that urban land ceiling NOC (if applicable) has been obtained or not.
- Check for the Works and Planning permit.
Q3. What kind of properties are listed on your website?
Ans:- We list a range of residential real estate properties including apartments, villas and plots through our web and mobile platform. Our listings include everything from new, resale, under construction and upcoming properties.
Q4. Do you offer home loan services?
Ans:- Yes. We have tie-ups with some of the leading banks in the country such as the HDFC Bank, the ICICI Bank, the Axis Bank, LIC India, Bank of Maharashtra, India bulls and PNB.
Q5. What are the taxes that I need to pay before buying a property?
Ans:- The buyer needs to pay the following taxes:
- TDS or tax deduction at source on amount exceeding Rs 50 lakhs for the purchase of property excluding agricultural land.
- Stamp duty
- Service Tax – Applicable if the property is being purchased from the builder who conceived and constructed the project before offering possession to the buyer. If a `ready to move in’ property is purchased from the seller, service tax is not applicable.
- Value Added Tax (VAT)– If applicable in the concerned state.
Q6. What should be the language of the registration document?
Ans:- The language of the registration document must be the one that is commonly used in your district. According to Section 19 of the Indian Registration Act, the Registering Officer or the registrar has the power to decline registration of your document if it is presented in a language which is not commonly used in the district unless it is accompanied with a true translation of the language in use.