No Extra Fees. Friendly Support
30 days money back guarantee
Plan Pricing For Buyers
Frequently Asked Questions
Here are some frequently asked questions about property buyers.
Basics
Many first-time homebuyers are so excited that they overlook the cost of buying a home in their excitement. If you overestimate your salary, you could face serious financial difficulties. Your monthly payment should not exceed 30 to 40% of your gross income. If the real estate market in your city is highly priced and you cannot afford the home you want to live in, invest in anything that is reasonable, even if it is beyond the city limits, as long as it is from a reputable developer and matches your budget. Both during the launch phase and after you leave, your value is appreciated. That becomes your starting capital. You can switch from one loan to another with the majority of banks.
Every time there is a transfer of ownership, Stamp Duty must generally be paid. It is determined using the overall market value of your property. The sum that must be paid varies depending on the city.
Your family's monthly income, both current and projected for the future, will be taken into account when determining the monthly house loan instalment. Your income and the income of your parents or spouse are considered family income. Second, it's crucial to take into account all of your family's current expenses, including payments on any other debts you have. Limit your monthly EMI spending to no more than 50% of your entire income.
Buyers Corner
The ownership of a property determines whether it is leasehold or freehold. The relevant local council or government maintains ownership of a leased property (as the case may be). Typically, the lease duration is between 30 and 99 years. However, as long as the lease deed is registered, this does not stop the individual owner from selling or engaging in other transactions involving the property. A freehold property's owner is its legitimate owner and is free to sell, lease, or rent the property as they see fit.
If the local laws allow it, the property's status could be changed from leasehold to freehold. For instance, properties owned by the DDA can be converted to freehold by signing a conveyance deed.
Property is regarded as a capital asset, and capital gains tax is applied to gains from property sales. These gains are computed after the inflation rate, transfer fees, and refurbishment costs have been taken into account.
The following documents are required: a sale deed, an encumbrance certificate, the most recent tax returns, an occupancy certificate, building plan approvals, and a possession certificate.