Frequently Asked Questions

It is advisible to cross check the following list of documents before booking a property.

a) Approved plans from the appropriate authority are in place.
b) Make sure all other permissions from various authorities (Utility Companies, Environment Clearance, Airport Authority, etc.) are in place.
c) Verify the supporting documents if any for the land title to make sure the land is clear and there is no disputes/litigation.
d) Confirm Builder has the Intimation of Disapproval (IOD) and Commencement Certificate (CC) to start construction.
e) Evaluated the sale agreement by an Advocate. Make sure the possession date promised by the Buildier and the penalty clause if Builder does not deliver as agreed is mantioned clearly in your sale agreement.
e) Check and negotiate the payment schedule with the Builder as per your convience.
e) Please do not book in Pre-launch without executing and registering the agreement.

Yes, the stamp duty on the gift deed varies from 5% to 12% from one state to another state. In few states like Haryana, Rajasthan and Delhi, 1 to 2 per cent concession is given to female transferors.

1. Check for a duly stamped registry
2. Ensure no dues are accorded to the builder
3. Check for seller’s name in municipal records
4. Confirm seller’s membership in the society (if formed)
5. Ensure there are no pending bills, charges or taxes
6. Make sure that the property is mortgage free
7. Sanctioned Building Plan (to ensure no unauthorized construction)
8. Previous title documents (that chain of title is complete)

Same documents as above would need to be verified for checking project approvals. Confirm approved plans, other approvals such as environmental clearances are important and NOC from utility companies. Title Search must be carried out at the Sub Registrar’s office to verify title and ascertain encumbrances, if any.

Usually, all major Banks provide home loans up to 60 times of your monthly net income. Home loan eligibility clariteria depends upon various factors. The main documents required to avail a home loan are:

a) Stability of income / Income proof.
b) Profession or nature of business
c) Age of the loan seeker
d) Credit score
e) Attributes of the property
f) Your relation with the Bank & the Company you work in.

Yes, you can sell your property even if there is outstanding home loan amount. But you have to follow the process below.

a) Obtain an NOC from the Bank for your loan foreclosure.
b) Pay the foreclosure amount to the Bank from where you had taken the home loan and obtain your property documents.
c) Hand over your property documents to the buyer once the registration is complete.

You must take into account the current state of the real estate market and especially local market conditions. The real estate market continually changes, and the market fluctuations affect property values. So it is critical to determine your listing price based on the most recent comparable sales in your neighborhood.

It would be a good idea to get a Comparable Market Analysis (CMA) from a real estate expert.

If the house is held for less than three years prior to its sale, it is termed as a short-term capital asset and any gain arising from the sale is treated as a short-term Capital Gain. There are no tax exemptions for short-term Capital Gains and one needs to pay it according to the applicable tax slab.

However, if the property is sold after holding it for more than three years, it is treated as a long-term capital asset and the gain arising from it is treated as long-term Capital Gain. Such gains attract a flat Tax exemption rate of 20%.