FAQs
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What Is RERA?
Answer : RERA (Real Estate Regulatory Authority) is a regulatory body which came into force in India on May 1 2016.This Law protect the rights of property buyers and enhance transparency in the real estate sector.
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How Rera Help Customers?
Answer :Guidance given by Rera to developer on 100% transparency, approval, usage of customer fund, Completion date of Tower mandatory to implement or heavy Penalty has to be paid for non-Compliance.
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What is the percentage of Government Taxes to be paid on the property I Buy?
Answer : Stamp Duty – 6 to 7%, Registration 30000 or 1% of Agreement value whichever is Low, Goods and Services Tax-5%, Local Body Tax*- 1%.Taxes varies from state to state. In Maharashtra applicability depend on Location and Stage of property
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Are there tax benefits to owning a home?
Answer : Homeownership can offer tax benefits, such as deductions on home loan interest, property taxes, and sometimes, certain home improvements. It's advised to consult a tax professional for specific information.
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What should I consider when buying a house?
Answer : When buying a house, consider factors like location, budget, amenities, and property condition.
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How can I prepare my home for sale?
Answer : To prepare your home for sale, declutter, make repairs, and consider staging to enhance appeal.
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What is a home inspection, and why is it important?
Answer : A home inspection is a thorough examination of a property's condition, including its structure, systems, and potential issues. It's crucial for buyers to identify any underlying problems before finalizing a purchase.
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How home loan is calculated by RBI for indian consumer?
Answer : Indian banks under the guidence of reserve bank of india use benchmarks like the base rate or mclr to disbursed home loan to the end consumer.
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How can I get home loan at a lower rate of interest ?
Answer :Maintain a good credit card score by paying all your loans on or before time. avoid finance defaults and maintain fund balance in your bank accounts.
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What is the difference between a buyer's market and a seller's market?
Answer : In a buyer's market, there are more properties for sale than buyers, giving buyers an advantage in negotiations. In a seller's market, there are more buyers than available properties, giving sellers the advantage.
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What are some tips for first-time homebuyers?
Answer : First-time buyers should start by establishing a budget, getting pre-approved for a mortgage, researching neighborhoods, and working with a trusted real estate agent to navigate the process effectively.
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What are positives & Challenges of Old Flats?
Answer : It has been Observed Old flats are Spacious & Challenge may be it is not aligned with Upgraded planning like Space utilization, design, heavy Repairs, No Lifestyle Amenities so difficult to sell at market price.
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What is the aspiration of buying a New Property?
Answer : New Property comes with host of Benefits. Better Quality, More Durability, Modern Design, High Tech Security Modern Amenities, Global Experience & Moreover environment every family Deserve.