Thakut Property Counsaltancy

FAQ

  • What is important before purchasing flat/property?
  • One have to see the approved layout and title clearance of the property/flat.

  • What is carpet and super built up area?
  • Carpet is also called as the usable area and is the area between wall to wall where as super built up area is area inclusive of common wall, staircase lobby, lift and such common area.

  • What is stamp duty?
  • This is the duty/tax levied towards every sale purchase of the property/flats. And is the liability is of purchaser.

  • Where does a person get to know the market value?
  • The sub-registrar office is the place where the property is located and the concerned person is the sub registrar.

  • What is freehold flat/property?
  • Free hold property is the property where the ownership is full and unconditional.

  • Various things to ascertain the genuinity of deal?
  • Approved plans of the building and floors, land ownership documents, Title of the land ,Reputation of the builder, NOC from the various authority like water, electricity, lift etc.

  • Whose name the stamp duty receipt required?
  • The stamp duty receipt should be in the name of either of the executor of agreement.

  • Is it necessary to execute the agreement?
  • Yes.

  • Is it possible to get the stamp duty back?
  • Investors can claim there stamp duty back conditionally, and stamp duty can be reclaimed from the revenue department in case agreement cancelled due of unwanted delay.

  • After buildings completion what should be next step?
  • Insist for the formation of society, to be the legal identity and procure the conveyance (absolute rights) of property in the name of society.

  • Does the register and unregister society differs?
  • Registered society do get all the benefit as they are the legal identity , and are absolute authority to deal with various government departments.

  • Who are real estate agents?
  • Real estate agents are the freelancers who organise meets between the seller and purchaser and furthermore they facilitate the deal by the information pertaining to documentation and do provide service for completion of the deals.

  • Is there any charge for real estate agents?
  • Real estate agents do charge the brokerage at the rate of 1% or 2% in general.

  • How much housing loan can be taken?
  • Housing loans is sanctioned depending on the repayment capacity of and individual. It can be jointly taken along with the spouses’ income. In general housing finance company sanctions 30 to 40 times the take home salary in case of salaried income.

  • What is the reducing balance?
  • The principal is paid time to time towards housing loan from the EMI , is reduced from outstanding loan amount.

  • What is fixed and floating rate of interest?
  • Fixed rate is the interest is fixed for the entire tenure of loan where as the floating rate is the rate of interest keeps on changing depending on the bank’s lending rate.

  • Can a tenancy right is transferred?
  • Yes, the tenancy rights can be transferred with the condition that 1/3 share be handed over to the landlord as per the prevailing market.

  • What should be deposit that a landlord or licensor is required to take for renting property?
  • A minimum of three month rent to the maximum of Ten month rent.

  • Can a tenant of the old building forms the society?
  • Yes.

  • What is the way to form the society without the landlord’s permission?
  • To form the society the tenants are required to approach the registrar of the co-operative society with various relevant documents.