Property Queries
Q. Is it the right time to invest in property considering the global economic slowdown due to COVID-19?
The COVID-19 pandemic has caused a slowdown in the global economy, and we are heading towards a potential recession. However, there is a silver lining many countries are relocating their manufacturing units from China, which makes Delhi NCR an attractive destination for multinational companies. This can lead to higher demand ...
Property Queries
Q. Is it the right time to invest in property considering the global economic slowdown due to COVID-19?
The COVID-19 pandemic has caused a slowdown in the global economy, and we are heading towards a potential recession. However, there is a silver lining many countries are relocating their manufacturing units from China, which makes Delhi NCR an attractive destination for multinational companies. This can lead to higher demand for property in the region. If you are looking for a long-term investment, this could be a good opportunity that may yield substantial returns.
Registration Queries
Q. What documents are required for registering a flat or plot?
The following documents are generally required for property registration:
• Sale Deed
• No Objection Certificate (NOC) from the builder
• Approved Building Plan
• NOC from the bank (if applicable)
• Completion Certificate
• PAN Card and Aadhaar Card
• Recent Photographs
Q. What is stamp duty, and who is responsible for paying it?
Stamp duty is a tax paid to the government to legally validate the property.
• Typically, the buyer of the property is responsible for paying the stamp duty unless stated otherwise in the agreement.
• The stamp duty can be paid in full or in installments, depending on the terms of the sale agreement.
Home Loan Queries
Q. What documents are needed to apply for a home loan?
For Salaried Individuals:
• Proof of Residence: Ration Card / Telephone Bill / Electricity Bill / Voter ID
• Proof of Identity: Voter ID / Aadhaar Card / Driver’s License / Employee ID
• Latest Bank Statement or Passbook (6 months)
• Latest 6 months’ Salary Slips with deductions
• Form 16 for the last 2 years
• Details of any other loans
For Self-Employed Individuals:
• Certified Financial Statements for the last 2 years
• Proof of Residence: Ration Card / Telephone Bill / Electricity Bill / Voter ID
• Proof of Identity: Voter ID / Aadhaar Card / Driver’s License / Employee ID
• Latest Bank Statement or Passbook
• Details of any other loans
Q. How much down payment is required for a home loan?
Most banks and financial institutions offer 75%-85% of the property value as a loan. You will need to arrange 15%-25% of the total property value as a down payment.
NRI Queries
Q. As an NRI, which projects would you recommend for a 3BHK apartment suitable as a primary home?
If you are planning to invest in a 3BHK apartment in India, consider Sector 150, Noida.
• Typical apartment sizes range from 1,500 to 2,350 sq. ft.
• Budget required: Rs 1–3 crore
• These apartments offer convenient access to cinemas, theatres, shopping centres, and are located in safe, secure neighbourhoods.
• Both new and resale properties are available in this area.
Legal Queries
Q. What action can I take against a builder who delays possession?
Initially, send a written notice to the builder highlighting your grievance and request a clear timeline for possession. Ensure all assurances are documented in writing.
• If the builder fails to provide possession as promised, you can file a complaint under RERA.
• You can request a refund along with applicable compensation.
