Frequently asked questions (FAQ)


What sort of charges/taxes is obligatory at the time of buying property?

Despite the cost of the property, the purchaser needs to pay the Enrollment Cost, Stamp Duty on Registration, Service Tax, and Value Added Tax while purchasing a property.

What credentials and paperwork are required while purchasing property?

The documentation required while buying a property incorporates an outline of the building plan/design, certificate of beginning, certificate of finishing, consent of non-agricultural utilization of land in the event that the land is initially an agricultural land. A 7/12 extract in case of an occurrence of land property [specific to states like Maharashtra] and a NOC from the developer are likewise required. If there should be an occurrence of resale, past deal deeds are an absolute necessity. Each one of these reports ought to be completely confirmed by a capable advocate.

Things you should check at the time of acceptance to the arrangement?

Prior to accepting to the buy arrangement, the purchaser should check the subtle elements like base cost referenced, additional charges like PLC, club enrollment, carpet area alongside amenities, relevant charges, payment mode, occupation declaration, building safety, the schedule of ownership and penalty provision in the event of project delay.

What is stamp duty?

Stamp duty alludes to the tax paid to the government simply like sales tax or income tax and ought to be paid on time over the required funds. A stamp tax paid evidence is a vital and legitimate tool to be dealt with.

How can a purchaser be ensured if the project is postponed?

According to a decision by the National Commission, the purchaser is qualified to get a reimbursement of the sum alongside the interest and payment in the event of project delay. He can likewise lodge a customer grievance and take lawful help.

What is the difference between the Power of Attorney and Registry?

The Registry is the database which stores all the vital information and so forth. While the Power of Attorney refers to the right/approval given by the proprietor to somebody whom he/she trusts and to who he/she appoints, the Power and Rights to manage the property under inescapable conditions.

What precisely do we mean by a Free Hold Flat? What are the points of interest and impediments, if any?

A Freehold Flat is the one which has an entire sole proprietor of the property with the possession being finished and unconditional according to the directions of the law of land and does not have any association of any lessor/renter.


How to pick a builder?

A purchaser can pick a decent developer by getting references from individuals, discovering how cheerful they are with their homes, development quality and builder's direct. They can get citations from shortlisted developers in writing, referencing each one of the points of interest of the venture like site maintenance, essential endorsements, and consents, required authorization, material supplies, charges, and so forth. It is vital to check the reputation of the developer.

Other than the per sq. ft. charges, what are the alternate charges in a multi-story flat?

If there should arise an occurrence of a multi-story flat, the condo proprietors and occupants need to pay other charges for the services and facilities delighted like the Preferential Location Charge, External electrification charges, Firefighting gear charges, Infrastructure development charges, External development charges, Car parking spot, Club membership and so forth.

How to compare any best real estate property?

The real estate online web portals can be helpful for comparing projects across different cities, locations on the basis of property designs, price , features and facilities provided and, of course, the reputation of the builder.

How to check the credibility of the diverse records put together by the seller of the house, especially with respect to the likelihood that the house has not been sold before to an outsider?

With the assistance of a qualified advocate, the purchaser can check the sincerity of the records submitted.

After purchasing an apartment from a builder in an under construction building, what are the consents and papers that one should check with the builder, in order to discover the validity of the builder?

A purchaser needs to check the validity on various grounds like the affirmed fabricating plan with every one of the subtle elements, confirmation that the floor being acquired is permitted, the building is being organized according to the predefined rules and regulations of that region and to ensure that the urban land NOC, whenever required, has been taken or not. It ought to likewise be affirmed that the land on which the building is coming up is builders own or is under some sort of concurrence with the landlord.


What are the types of Home loans available?

There are different types of home loans available depending upon the purpose for which the home loan is being taken.

  • Home Purchase Loan
  • Home Improvement Loan
  • Home Construction Loan
  • Home Extension Loan
  • Land Purchase Loan
  • Loans for NRIs

What are the factors you should keep in mind before getting a home loan?

In order to avoid any unpleasant surprises in future, the buyer should at the first place be aware of his financial credibility, eligibility and affordability. He should compare the interest rates offered depending on the type of loan, and should be aware of other things like refinancing option, flexible payments option, foreclosure charges if any and part payment facility.

What are the eligibility conditions for a home loan?

For taking a home loan, the applicant should be either an NRI or an Indian resident, should be of minimum 24 years of age at the time of loan commencement and below 60 years at the time of loan maturity and should have a steady income source.

What are the other costs that usually accompany a home loan?

The extra costs usually accompanying a home loan are the Processing Charges, Pre-Payment Charges and Miscellaneous Costs like some sort of documentation or consultation charges.

What are the tax benefits of home loans?

Both principal and interest of home loans have tax benefits as specified under section 80C of the Income Tax Act 1965:

Principal amount of repayment of loan along with other savings such as PF, PPF, Life Insurance premium etc up to a maximum of Rs 1, 00,000/- will be eligible for deduction from gross income.

Interest paid up to a maximum of Rs 1, 50,000/- will be eligible for deduction from gross income on loan after completion of construction and will be deductible from income from property.



Basic sale price is the basic price of the property. This cost does not include other charges like EDC/IDC/IFMS/EEC/PLC/Club membership and car parking.


Per Square Feet.


BWSSB strands for Bangalore Water Supply and Sewerage Board and KPTCL stands for Karnataka Power Transmission Corporation Limited.

Development Charges

Developers have to pay these charges to the government for civic amenities such as roads, water/electricity supply, sewerage and drainage. The development charges are fixed by the local authorities and are passed on to buyers in proportion to the built-up area of their properties.

PLC or Preferential Location Charge

Is the extra charge paid to a unit which has a better location within a particular layout or complex.

IFMS (Interest Free Maintenance Security)

One time charge levied by developer to maintain the society. This is a common pool of funds which works as a maintenance charge.


EEC is external electrification charge and FFC is fire fighting charge and these are levied for obvious reasons.


Common Area Maintenance which includes hallways, pathways and utilities. CAM fees is accumulated by the landlord from tenants to cover maintenance.

FAR or Floor Area Ratio

The maximum amount of construction allowed on a given plot of land. This is purely dependent on the plot area and would vary from one locality to another based on different factors.

Sale Deed

Sale Deed provides the buyer an absolute and undisputed ownership of the property.

Built Up Area:

Built-up area denotes to the entire area of the floor including carpet area, walls, lobbies/corridors, atrium areas and basement.

Carpet Area

The actual usable area within the walls of the unit is Carpet area.

Super Built Up Area

Super built-up area includes common amenities, such as the area of lift shafts, lobby, and corridor, proportionately divided among all flats. The common usable areas, such as a swimming pool, garden and clubhouse may also be included in it.

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