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Consumer guide
We realize that your enquiry is just the beginning of our relationship. Real estate transactions involve huge amounts of money and it’s critical that customers trust those they’re doing business with. We pride ourselves on our world-class customer care.

5 easy steps to buying a home
The home buying process can seem complicated, but if you take things step-by-step and you know how to choose the right home loan, you will soon be holding the keys to your own home!

Step 1: Figure out how much you are willing to invest. What you can plan for depends on your income, credit rating, current monthly expenses, down payment and the interest rate. A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that down payment!

Step 2: Shop for a loan. Talk to several lenders, compare costs and interest rates, and negotiate to get a better deal. Consider getting pre-approved loan.

Step 3: Shop for a home. Create a “Wish List” - what features and amenities you want - take this list with you when comparing homes.

Step 4:  Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major changes/repairs.

Step 5:  You're finally ready to go for close your deal. Be sure to read the fine print before you sign.

When you are investing in real estate, a number of questions may arise in your mind. More so, you may not even know what to ask. The following are some basic questions that every investor should ask and find the answer for in the context of real estate laws in India.

For your convenience, we have solved some of the queries that may help you gain the relevant information:

What is the classification of Non Resident Indians (NRI)?

Non resident Indians (NRIs) are categorized as:
(i) Indian citizens who stay abroad for employment or for carrying on any business or vocation or for any other purpose in circumstances indicating an indefinite period of stay outside India.
(ii) Indian citizens working abroad on assignments with foreign Government, Government agencies or international/multinational agencies like United Nations Organization (UNO), International Monetary Fund (IMF), World Bank (IBRD), etc.
(iii) Officials of Central and State Government and public sector undertaking deputed abroad on assignments with foreign Governments/agencies/ organizations or posted to their own offices (including Indian Diplomatic Missions ) abroad.

Who is referred to as a Person of Indian Origin (PIO)?

For the purpose of investment in real estate in India, a PIO means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
(i) at any time, held Indian passport; or.
(ii) who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).

Is there any requirement to file the documents with Reserve bank of India?

NRI/PIO who has purchased residential/commercial property under general permission is not required to file any documents with the RBI.

Can a foreign national of non-Indian origin resident outside India acquire any immovable property in India by way of purchase?

No, a foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of purchase.


What is the difference between carpet area, built-up and super built-up area?

The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area that is actually used and in which a carpet can be laid. When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area.

When there are apartments of different sizes in a complex, how is the maintenance charge calculated?

Legally, the actual area owned by the individual is the basis for calculation of maintenance charge.

Why do Co-operative Housing Societies collect a Sinking Fund?

Co-operative Housing Societies have a statutory obligation to collect a Sinking Fund. This is done so that in case the building needs to be repaired or reconstructed in the future, the society has sufficient funds to carry out the work. The amount to be contributed is decided by the General Body of the society; it should be at least ¼ percent per annum of the cost of each apartment, excluding the cost of the land. This fund may be used after a resolution is passed at the General Body meeting with the prior permission of the Registering Authority. This could be to carry out reconstruction, repairs, structural additions or alterations to the building as the architect thinks is required and certifies.

How is a lease agreement created?

A lease agreement can be reached in either of two ways, depending upon each case:
  • In cases where the lease contract is from year-to-year / exceeding one year’s rent / reserving yearly rent, then a registered instrument can be created, which both the lessor and the lessee must execute.
  • In cases other than the above, an oral agreement followed by delivery of possession is considered enough.

What are the charges to be paid while gifting property?

When a gift of property is made, a gift deed needs to be made by a lawyer. Stamp duty on the market value of the property also needs to be paid, as well as the necessary registration charges.


Can corporate bodies use residential properties as office space?

It is illegal to put residential properties to commercial use. However service-based industries are allowed to operate from residential areas, on the condition that they will vacate the property if any complaint is received from other residential owners.

Before purchasing property owned by a company, what aspects should be considered?

Before purchasing property from a company, it is necessary to verify with the Registrar of Companies that the property is not mortgaged or is not being used as a security against a loan, otherwise it is not considered a freehold property.
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