Q. Do you have any 2-3BHK apartments? A. No. All our apartments are 4BHK apartments.
Q. Can I run a commercial activity in the apartment? Like an AirBnB? A. No, it is illegal to run any commercial activity at Svasa Homes.
Q. Can I rent the property out from the builders? A. No.
Q. Can I renovate/change the structure of the apartment? A. No.
Q. Can the builder help us do the interiors? A. Yes, at an additional cost.
Q. Who is in charge of maintenance of the property? A. The builder will undertake maintenance of the property up to a certain period of time.
Q. How does concierge service work? Is it at extra cost? A. No.
Q. Is there any restriction on the number of properties NRIs can buy? A. No.
Q. I have a flat which I want to sell and buy a new flat, bigger in area. What are my tax implications with regard to capital gains? A. Capital Gains are exempt if a person purchases a new flat within two years of the date of sale of the original apartment and invests the entire amount of capital gained into the new apartment. However, the same is subject to the provisions of the Income Tax Act, 1961. Customers are requested to consult his/her Chartered Accountant in this regard.
Q. Does Capital Gains Tax apply to NRIs? A. Yes.
Q. What is the process and required documentation to block an apartment? A. A booking advance needs to be paid as specified in the cost sheet to block the specified unit adhering to payment terms. Additionally, basic KYC documents need to be provided to initiate the process.
Q. What is the loan sanction process and what documentation is required? A. While exact requirements and process may differ from bank to bank, the below list summaries standard documents that any bank is likely to request in order to accept your loan application. Keeping your documents ready in advance will reduce the time taken in processing your application. The following are the documents that you must have on hand for the application:
1. ID proof - Passport, Adhaar, Ration Card, Driving Licence, PAN card 2. Address proof - Passport, Adhaar, Ration Card, Driving Licence 3. Income proof - Salary slips, Company offer letters, Income tax returns, Audited financials for Businesses 4. Bank statements - Savings account, Current account 5. PAN copy & some references/guarantors as maybe required by the bank
There will be a specific bank application that the customer needs to fill-in as well. Some banks could ask for a few other documents in addition to the above.
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