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FAQs KNOW ABOUT PROPERTY

Q1. What is the first step towards buying property?

  • Location of Project
  • Developer
  • RERA Registration
  • Title
  • Approvals
  • Residential/Commercial
  • Amenities
  • Under construction/ completed Project
  • Encumbrances/Litigation
  • Connectivity from the location of the Project
    FLAT/APARTMENT/UNIT
  • Carpet Area, Type of Flat/Apartment/Units
  • Payment Plans/ Schemes
  • Affordability
  • Possession Date
  • Availability of water and electricity
  • Society expenses
  • Security
  • Parking

Q2.What is RERA & its benefits?

  • The Government of India passed the Real Estate Regulation Authority (RERA) Act in March 2016.
  • Ensuring Transparency & Efficiency in real estate sector in regards to sale of plot, apartment, building or real estate project.
  • Protecting the interest of consumers in real estate sector
  • Establishing adjudicating mechanism for speedy dispute redressal
  • Establishing Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority

Q3. What is RERA Carpet, Built-up and Super Built-up?

What Is Carpet Area?

  • Carpet area means an area that can be covered by carpet or net usable area is called carpet area.
  • The carpet area is the distance between the inner wall to wall.
  • Common areas such as lift, lobby, etc. are not included under the carpet area.

What Is The RERA Carpet Area?

  • RERA Carpet area means the net usable floor area of an apartment,
  • Area covered by the external walls, areas under services shafts, exclusive balcony or verandah, area open terrace area, will not be count in RERA Carpet
  • But the area covered by the internal partition walls of the apartment will be counted in carpet.

Formula to calculate carpet area

Carpet area = Area of bedroom + living room + balconies + toilets – the thickness of the inner walls

What is Built-up area?
  • It is an area of a premise measured from the external perimeter wall surfaces.
  • It includes the carpet area and the wall thickness.
  • It also contains other apartment areas such as the dry balcony, terrace, flower beds, etc.
The formula to calculate the built-up area

Built-up area = Carpet area + area of walls

What is Super built-up area?
  •  It is an area of premises which is a saleable area.
  • This area includes carpet area, terrace area, walls, lift, stairs, balconies. Also, some builders have a garden area, pool area or clubhouse area.
  • The loading factor on the carpet area is used to measure the super built-up area.

“RERA suggests that a super built-up area consists of carpet, built-up, and common areas like stairs, lift, lobbies, etc.”

The formula for super built-up area is
Super built-up area = Built-up area + common areas

Q4. What is the difference between RERA carpet area and Usable carpet area?

The only difference between the RERA carpet area and the Usable Carpet area is that

The usable carpet area covers area like balcony or verandah, area open terrace area, Dry Balcony

Whereas, RERA carpet area consists of the inner walls of the flat.

Q5. What is the difference between OC & CC?

OC stands for Ocupancy Certificate (OC)

  1. This is one of the essential document that allow you to mortgage or sell your home.
  2. Means homebuyers are advised to take possession of their flat or property only after these documents have been issued.
  3. An Occupancy Certificate is a document issued by the concerned civic body to verify that –

Property is built according to the approved plan and bye-laws

  • It adheres to the building code
  • All the basic amenities are in place
  • All the required clearances including the fire No Objection Certificate (NOC) are in place

Another we can define An OC is issued by a competent certifying authority, which permits occupation of any building, under the civic laws. These are generally local civic bodies like municipal corporations.

OC certifies that property is under bye-laws and it has civic amenities, electricity, sanitation & other clearance.

CC Stands for Completion Certificate.

it is the legal document that certifies that a building is constructed according to the laid down norms and master plan of the city.

This document cames with the details related to the project, such as

the building materials used
building height and building plan
provision for green belt.
This shows that the building adheres to all the prevailing rules and has not violated any norms.

Builders are allowed to obtain a provisional Completion Certificate when there are minor works left in the project. Authorities then provide a provisional certificate valid for six months. After the expiry of the six months, the developer is bound to get a final CC. its compulsorily to the authorities to obtain electricity and water connection.

CC Certifies that a property is possession ready.

OUR SCHEME

What is the scheme ?

Transparent, Viable & Reasonable for all Buyer/Seller/Rental.

1. For Under Construction Buyers – NO BROKERAGE and for Sellers – 0.5%

2. For Resale Buyers & Sellers – *0.5%*.

3. For *Rentals – 3%*, Client shall pay of Annual Rent at 3% at the time of Registration and thereafter on every year completion on the on-going Annual Rental amount until the Tenure end.

We offer the above LOYALTY MEMBERSHIP
on receipt of Refundable Deposit of ₹2499/- from Buyer / Seller for 180 days
₹999/- for Rentals for 90 days.

Grab this attractive opportunity at earliest.

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