- - - - - - 21st Year in Construction Industry - - - - - -

1.How Do I choose my apartment?

Make sure of your requirements and Match these to the specifications of the project at hand. Look out for more details besides the specifications of the home itself.

2) Apart from specifications what else I should look for?

While buying a home, always do a background check on the builders you deal with

3) How should I go about buying a home?

a) Know the builder - An established company with a history of sound construction. Check their credentials.
b) Home Delivery - Consider the time taken for completion of the company's previous projects. If there are delays, analyse the reasons for these delays.
c) Legal Concerns -check for all property documents
If you aresatisfied with the reputation of the builder , it is time to look through the location & specifications of the project.

4) Are there additional costs for some features?

Most quality projects come with a built-in set of amenities like swimming pool, gym and common recreation areas. There may be other amenities that can be added at a cost.

5. Should I be worried about any legal issues?

While purchasing a property, you have to look at the approved layout plan, approved building plan, ownership documents, carryout search, etc. It is advisable to contact an advocate before you purchase a property so that he can advise you.

6) How do I finance my dream home and save on tax?

Finance plays a critical role in the purchase of your home. The important issues that are to be considered include modes of arranging finance and its implications on taxation.

7) How do I Use my own funds, to gain tax benefits ?

If the house is being acquired out of the sales proceeds of an earlier house, the exemption from the long-term capital gain tax on the sale of the earlier house can be claimed under u/s. 54. To claim this benefit, the new property should be acquired one year prior to selling or two years after the date on which the transfer of the earlier house takes place.

If the new house could not be acquired within a period of one year from the sale of the earlier house, the sales proceeds should be deposited in a bank or institution, which runs Capital Gain Accounts Scheme approved for this purpose.

Other issues also need to be considered. For example, if the person acquiring a house already holds another house, then every year, one of the two house properties would be deemed to be let out (u/s. 24) of income tax act and the let-out value shall be treated as income. Hence, appropriate tax planning should be considered.

Further, in the case of individual or HUF (Hindu Undivided Family), exemption is provided from long term capital gain tax u/s. 54F on sale of any long term capital asset, if sale proceeds are invested in acquiring a house within prescribed period.

8) How do I take a bank loan to avail the tax benefits ?

Interest paid on housing loan can be claimed as deduction under u/s. 24(b) to the maximum extent of Rs. 1,50,000 per year. Such limit is per person and not for one property. Hence, a loan can be taken in two joint names for one house to claim deduction of Rs. 1.5 lakhs each for both the persons repaying the loan.if you are letting out your property complete income is exempted

Repayment of the principal amount of housing loan is also eligible for the rebate u/s. 88 subject to a maximum sum of Rs. 1,00,000/- per year.

9) Do you arrange the bank loan?

We will assist you for documentation to avail the bank loan. Further follow-up will be organized at  various stages of loan processing  & disbursement of sanctioned  loans

10) what is the Rate of Interest ?

The rate of interest on housing loans is currently between 8.5% to 11.5% depending on banker, the tenure of the loan, fixed/floating rate, credit profile of the borrower etc.

11) . What are the documents I will have to submit to the bank?

1. Employment Contract copy
2. Past Occupational History
3. Latest 6 months Salary Slip / Pay stubs
4. Latest Work Permit/ Labor Card
5. Identity Card issued by the current employer.
6. Visa Stamped on the Passport.
7. Overseas /International Bank Account statement for the last Six Months- ( Salary Credited Bank Statements)
8. Latest Six months Bank statements from NRE/NRO Account if not we have to open an account with any bank.
9. GPA to be attested by Notary (GPA soft copy will be sent to you or directly to NRI applicant separately), The application can be signed by GPA holder. We can get the financial approval on soft copies.
10. One Photograph duly signed front side
11. W2 forms or Annual Income Tax returns of last 2 years
12. Credit report with credit score.(for USA and UK)

For Salaried

1. Form-16 Last 2 years if not 1 year is enough for AAA rated company employees with professional qualification
2. Last 3 months Pay slip
3. CTC(Cost To Company) and Appointment letter copy
4. Last 6 months salary crediting Bank statement
5. Pan Card and Company ID card copies
6. Residence Phone bill or Letter from HR Department regarding residing address.
7. Highest qualification certificate copy
8. Resume or Bio-Data

For Self Employed

1. Last 3 or 2 years Income Tax Returns(If businessman is having one year IT returns, we need Last one year bank statement with at least average balance of Rs.30000/- minimum)
2. Last 6 months Bank statement
3. Pan Card and Voter ID or Driving license or Passport or Ration card copies
4. Business Registration proof
5. Residence Phone bill
6. Office address proof can be phone bill or rental deed etc.,

12) What are the banks Approved your project ?

13) Can we get ADF ( Advance Disbursement Fund ) from approved banks ?

Yes, You can get Advance Disbursement Fund for 50% of sanctioned loan amount from