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Buyers Guide

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Buyers Guide

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FAQ's

The net usable floor area of an apartment. This area includes the internal partition walls but excludes the external walls, common areas, exclusive balcony or veranda area appurtenant to the apartment, and exclusive open terrace area.

  • The buyer must go through the RERA PAGE of the project and make sure that the floor/flat being purchased is approved by the municipal authority. All details regarding the agreement for sale, title certificate, commencement certificate, amenities in the building etc shall be mentioned on the RERA PAGE
  • The landowner/promoter requires the ownership documents including a title certificate while a developer/promoter who is not an owner but has acquired the development rights requires a development agreement and power of attorney.
  • Certificates like Intimation of Disapproval (IOD)/Commencement Certificate/Development Permission and the building plan/s that are approved by the competent authority.
  • Depending on the nature of the plot or the type of development, other permissions/NOC issued by the competent authority.
  • The Occupation certificate /Building completion certificate is issued by the competent authority if the construction is completed.
  • The sale agreement draft, brochure for specifications, layouts and amenities in the layout.

  • Aadhaar Card
  • PAN Card
  • Passport sized photograph
  • Power of Attorney (if the Purchaser is not present for registration)
  • Power of attorney/letter of authority, along with a copy of the resolution of the company’s board, authorizing the person representing the company to carry out the registration (in case a company is party to the agreement).
  • Loan documents, if applicable.

  • As per the provisions of the relevant laws, the developer/promoter and the intending purchaser need to execute an agreement for sale.
  • Under Section 17 of the Registration Act, 1908, all transactions that involve the sale of an immovable property should be registered with the Sub-Registrar of Assurances in whose jurisdiction the property lies.

  • Stamp duty is a tax imposed by the state government under Section 3 of the Indian Stamp Act, 1899, on the sale of property.
  • Prior to proceeding for registration, the purchaser is liable to pay the stamp duty along with the registration charges, unless agreed upon differently by the concerned parties
  • The registration is done at the local registration office.

NRI FAQ's

  • Can an NRI purchase or sell Real Estate in India?
    • An NRI or an OCI card holder (except for residents of some specified countries) is entitled to purchase or sell immovable properties in India, except purchase of agricultural land, farmhouse or plantation land.
  • What are the Documents needed by NRI for purchasing property in India?
    • Passport and/or OCI card: You will need to show your Indian passport. If you hold a foreign passport, you can buy property in India provided you have a PIO (Persons of Indian Origin) card or an OCI (Overseas Citizen of India) card.
    • Pan Card: This is mandatory for property transactions.
    • Power of attorney: You need to also provide a Power of attorney.
    • Address Verification
  • What Mode of Payment can a NRI use?
    • Funds can be remitted from out of India or to be paid in Indian Rupees through normal banking channels, or through NRI bank accounts as stipulated under FEMA and RBI regulations.
  • Can a NRI Rent out their residential property?
    • A Property owned by an NRI for residential purposes can be rented out, but the rental income cannot be repatriated.
  • When a NRI sells a property , what is the TDS implication?
    • When an NRI/OCI sells property, the buyer is liable to deduct TDS @20%.
    • In case the property has been sold within 2 years, TDS @30% shall be applicable.
  • Taxation for NRI
    • To assist NRIs having to pay taxes in India as well as their country of residence, India has a Double Tax Avoidance Agreement (DTAA) , and the NRI can take benefit of that to avoid double taxation in both the countries.
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Why Invest in India

  • Massive Growth Potential: The Indian real estate market is projected to reach US$ 1 trillion by 2030, contributing 13% to the country’s GDP by 2025.
  • High Demand: There is a significant rise in demand for both office and residential spaces.
  • Investment Surge: Private equity and venture capital investments have shown robust growth, reaching US$ 1.47 billion between January and March 2019.
  • Rapid Urbanization: Cities in India are rapidly urbanizing, creating substantial opportunities for real estate investment.
  • Top Investment Destinations: Major metros like Mumbai, Delhi, Chennai, Hyderabad, Bengaluru, and Pune are listed among the top 10 emerging property investment destinations in the Asia-Pacific region.

Why Invest in Mumbai

  • Prime Real Estate Market: The Mumbai Metropolitan Region is the largest real estate market in India, surpassing even Bengaluru and NCR combined.
  • High Rental Yields: Mumbai ranks third globally for commercial rental yields, ahead of cities like Singapore, Hong Kong, and New York.
  • Economic Hub: Mumbai generates 6.2% of India’s total GDP and attracts 30% of total FDI inflows.
  • Corporate Headquarters: It is home to 24 of the 58 Indian companies on the Fortune 2000 list and 11 of the 22 leading banks in the country.

901, Glamcent, Central Avenue Road, Opposite OLPS Church, Chembur East, Mumbai - 400071

+ 91 22 25224637 Call us for support
info@thaparrealtors.com Email us for query
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