{"id":7855,"date":"2019-06-25T10:24:08","date_gmt":"2019-06-25T10:24:08","guid":{"rendered":"https:\/\/wpbingosite.com\/wordpress\/hourty\/?page_id=7855"},"modified":"2023-03-23T08:48:21","modified_gmt":"2023-03-23T08:48:21","slug":"faq","status":"publish","type":"page","link":"https:\/\/urbanspacecreators.com\/faq","title":{"rendered":"FAQ’s"},"content":{"rendered":"\t\t
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Home \/<\/a> <\/span><\/span> FAQ\u00b4s<\/span> <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Get all the answers<\/strong> to the most frequently
\nasked questions (FAQs) regarding visit, services,
\nIntelligentHome<\/strong>, and much, much more.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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General FAQ's<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow should I go about buying a home ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

It\u2019s easy to allow your thoughts to run the show as you begin to think of buying your first home. always have a record checks on the builders while purchasing a property, and study their references.<\/p>

Fully understand the builder<\/strong>\u00a0: The best location to begin will be an proven firm with a record of good quality and above-board strategies.<\/p>

Possession :<\/strong>\u00a0Note the time taken to complete the works of the organisation, as this also assists in taking a decision.<\/p>

Legal issues:\u00a0<\/strong>Figure out when there are complaints regarding the company in any court in India and whether there is any illegal charges with any of the business \u2018s representatives. Without the guidance of a professional, don\u2019t take your biggest decision.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tAre there additional costs for specific features ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Undeniably, owning a home is something to be proud of. For many, buying a home means reaching an immense achievement in their life. There are many other facilities of extra costs which can be offered. check for options such as pre-connected telephones, TV and Internet connections, safety devices, home decor, etc. which are taken lightly.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tShould I be Worried about any legal issues?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Investments in property are extremely cost intensive, and any errors made during the process will bring the buyer a good deal of troubles. Before you buy a house, it is recommended to consult an attorney so that he might inform you. Some places have unique business and residential reservations and so it is best before you decide to a contract to have all the information.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the documents I have to submit to the bank ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Buying property can also be complicated. You may confuse yourself with all the legalists.
Evidence of income: payment receipts and form No. 16 for the last three years, TDS approvals for the last three years, bank statements indicating credit entries earned for pay \/ professional fees for the last 12 months, certification of professional qualification, etc.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow do I finance my dream home and save on tax ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

The process of moving into your dream location is fascinating, if you are building from scratch or purchasing a pre-existing house. After this, you will be everywhere you\u2019ve always dreamed of being, embraced by the characteristics and people that you like. It will never feel like a chore in your dream home; instead, it should feels like an accomplishment, the fulfilment of all you\u2019ve be aiming for for your entire life. Of course, while you\u2019re in the process of moving, there are realistic factors you\u2019ll have to keep in mind. There are factors like contractors, tools, and place to remember if you\u2019re building from scratch. When you\u2019re just moving, you\u2019re going to start thinking about what needs to happen before you (and probably your family) inhabit the spot. Any way, financing the house will be one of your major aspects.<\/p>


In the purchase of your house, finance plays a key role. Methods of managing finance and its impact on taxes are crucial aspects to be discussed. By using your own money or you can finance your dream house by taking a loan from a bank.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat issues should be considered when applying for a home loan ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

As home values are going up and up, purchasing a home with your savings alone is very challenging.<\/p>


It is usually safe to take a loan in one of the leading banks, but it is always important to keep up to date with the investments and tax rates. You may either choose for a rate of interest that is fixed or floating. Generally, the fixed rate is 50-75 basis points greater than that of the variable rate. Processing fees are paid by banking firms for title statement verification, financial results, flat-rate valuation, and so on. Up to 1 percent of the loan amount may be this fee. After weighing different things such as repayment ability per month, earning ability in the next few years, various financial obligations such as marriages, child education, the duration of the loan should be determined by the buye.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs registration of leave and license mandatory and what are the consequences if registration not done?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Registration of leave and license is mandatory, if the same is not done the landlord would be prosecuted and on conviction he’s subject to up to three months imprisonment or be subject to fine not exceeding Rs.5000\/- or with both.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the purpose of collecting sinking Funds?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Sinking fund is collected to keep sufficient funds with the society, so that building can be reconstructed in the future.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow to calculate capital tax gain?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

For long-term capital gain, you must hold the property for more than three years. In case you sell the property in less than three years time then it would become short-term Capital Gain.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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NRI FAQ's<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tDo NRI require the consent of the Reserve Bank of India to buy immovable property in India?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

No, NRIs don\u2019t require consent from the RBI to buy an immovable property in India, provided the property is residential or commercial in nature.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan a foreign national of non-Indian origin acquire residential property on a leash in India?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Yes. A Foreign National of non-Indian origin including a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan can acquire residential properties on lease in India. If the lease does not exceed five years, he\/she does not require any prior permission from the RBI.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs there any limit on the number of housing properties that an NRI can buy?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

No. There is no limit placed on the number of residential properties an NRI can buy in India.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat kind of properties can an NRI avail home loans for?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

To purchase a house that is either ready to move in, under construction or bought from another owner, an NRI is eligible to apply for home loans. Additionally, NRIs can apply for home loans \u2013<\/p>

  • For the construction of a property on a plot of land by self.<\/li>
  • To purchase a plot allotted by a society\/development authority.<\/li>
  • For the purpose of renovation or improvement of an existing property in India.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tAre there any tax benefits for non-resident Indians buying properties?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

    No tax benefits are available for NRI\u2019s unless you file your returns.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the documents required for obtaining NRI home loans?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

    Apart from the documents mentioned under the home loan section for Indian citizens, NRIs are required to submit-<\/p>

    • A copy of the passport.<\/li>
    • A copy of the works contract or the labor card.<\/li>
    • The power of attorney (POA). (POA is required because the borrower is not based in India.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
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      \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the mode of payment for NRI home loans and how much loan can one get?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

      The housing loan needs to be paid upfront for the entire tenure of the loan by way of direct remittances from abroad through normal banking channels or from other financial accounts as may be permitted by RBI. Generally, payments are done through NRO, NRE, NRNR and FCNR accounts. These accounts change on the basis of RBI regulations. You can get a Home Loan of up to 85% of the Total Consideration Value.<\/p>

      • A copy of the passport.<\/li>
      • A copy of the works contract or the labor card.<\/li>
      • The power of attorney (POA). (POA is required because the borrower is not based in India.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
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        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs there a way out to avoid demand of Power of Attorney by developers while buying real estate?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

        One can choose not to grant the Power of Attorney (POA) to the developers. However this will mandate the mailing of all documents to your foreign residence and associated time delays.<\/p>

        • A copy of the passport.<\/li>
        • A copy of the works contract or the labor card.<\/li>
        • The power of attorney (POA). (POA is required because the borrower is not based in India.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
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          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the repayment period for the home loan for NRIs?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          Home loans offered to NRIs do not exceed 5 years in major cases. However, some financial institutions offer home loans for a term of 7 years as well.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow can NRI avoid TDS on property sale?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          To diminish TDS liability, the NRI has to furnish the application in Form 13 within the income tax department for nil\/lower deduction of the TDS certificate.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan NRI invest in real estate?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          Yes, an NRI can invest in real estate property.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t