We are happy to answer some of your concerns before you make the right choice.

1. What are the documents that we need to scrutinize before purchasing an apartment?

Before purchasing it is very much essential to thoroughly scrutinize the following documents for a risk free transaction.
- Titles of the property
- Sanction plans from the concerned authorities like Bangalore Mahanagara Palike (BMP)/ Bangalore Development Authority (BDA)
- Nil encumbrance for a minimum of 30 years to ensure that the property is free from all encumbrances.

2. What are the extra charges that a transaction comprises of?

Some basic charges has to be paid during the transaction, such as:
- Statutory levies like Karnataka Electricity Board (K.E.B), Bangalore Water Supply and Sewage Board (B.W.S.S.B), Sales Tax, etc.
- Government levies like Stamp Duty and Registration
- Car parking if applicable as this depends on whether or not a slot is opted for maintenance charges.

3. Does approval from financial institutions increase the credibility of the builder?

Yes. Reputed institutions do not offer loan on projects with low credibility, only property with clear titles are approved by them.

4. What are the documents required to obtain a housing loan?

Documents required to obtain housing loan are:
- Passport / Visa Copies
- 4 Passport size photographs
- Copy of Job contract.
- One guarantor -- this is optional depending on the institution from which loan is obtained.

5. What is Khaatha?

a. Khaatha is a support document for the property showing the owner of the property in the records of CMC, BDA & Corporation Offices.
Khaatha can be procured from any of the above after registering the flat and the builder shall help in procuring the same. The customer shall pay the charges towards the Khaatha.

b. Registration of Flat
The Registration of the flat shall be done on the completion of the project and on receiving full payment against the flat consideration.
The registration amount shall be as per the standards set by the concerned authorities, which shall be borne by the customer.

6. What are the documents required in case of a resident Indian?

In case of resident Indian, documents required are as follows:
Salary statement / Balance sheet
One guarantor - this is optional depending on the institution from which loan is obtained.

Few commanly used terms in Real Estate Industry:
Super Built up Area:
This includes the apartment along with the corridors or passages, lift wells, electrical and sanitary ducts, stairways and fire escapes, common areas such as lobbies and clubhouses. The space considered super built up is in effect the entire building including the thickness of walls, balconies and all other common amenities, which are divided in proportion to individual apartments. This varies from building to building. If the building has wider corridors and more amenities, the super built up area will be larger.

Plinth Area:
This comprises the apartment including the thickness of all the exterior and interior walls. It includes only the dwelling unit and walls around it and not the common amenities or corridors in the building.

Carpet Area:
This is the actual and physical useable area in the apartment. It is the area within the four walls of the apartment before plastering, where you can lay a carpet. It does not include the wall thickness or any of the common amenities in the building.
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