Home :: General Faq’s
1. What Should My Down Payment Be?
25 -30 % will be the down payment for Plot.
2. How Does My Credit Score Impact My Home Loan?
Based on CIBIL Score.
3. Who are the approving authorities related to property acquisition?
The right authority for registration like BDA, BBMP, BIAPPA & BMRDA and other local authorities.
4. How does EMI differ from PEMI?
As mentioned above, the EMI begins only when the loan is fully disbursed. If the loan is partially disbursed, then only interest payments are made o n the amount disbursed. These interest payments made before the loan is fully disbursed and before actual EMIs begin, are known as pre-EMI.
5. Are there any income tax benefits from owning a property home?
Yes, there are. The tax code provides various benefits to people who own their homes. They may deduct both property tax payments and mortgage interest and other expenses from their income tax.
6. What is the process of registration of properties?
Registration of a property involves stamping and paying minimum registration charges for a sale deed which acts as a legal proof and kept as a record at sub-registrar’s office.
7. What are the registrations and Stamp Duty charges in Bangalore?
The ongoing stamp duty fee in Bangalore is approximately 5.65 per cent and registration charge is 1 per cent of the total value of the property.
8. Major differences between built-up, carpet area and super built-up area?
Built-up area is inclusive of not just the carpet area but also the area being occupied by the walls of your home. Carpet area is defined as the precise area within the walls of your home. If you had to lay out a wall-to-wall carpet in your entire home, the area covered would be the carpet area. Super built-up area takes into account all the area under the common spaces which is the apartment's proportionate share of the lobby, staircase, elevator and the corridor outside the apartment.
9. How maintenance charge is calculated on apartments, villas & layouts?
Differs from project to project.
10. What are Pre EMI benefits?
As you know Pre-EMI are only the interest’s portions on the distributed loan amount until the full loan is distributed. The EMI Structure starts only after the Pre-EMI phase. On completion of the Project, Pre EMI interest paid can be deducted later in 5 equal installments for next 5 yrs from the end of financial year of possession.