Property FAQ's

What are Ready To Move In properties?

Completed projects that are ready for immediate occupancy are called as Ready To Move In properties.

What are Ready To Move In properties?

Completed projects that are ready for immediate occupancy are called as Ready To Move In properties.

What are Bank Approved Properties?

These are the properties approved by the banks for home or property loan sanction to the eligible customers. However, loan sanction is at the sole discretion of the banks.

Why is it considered necessary to register a property? What is the purpose of registration?

By registering the transaction of an immovable property, it becomes permanent public record. Title or interest can be acquired only if the deed is registered.

What is Legal report ?

Verification of property documents by an advocate are known as Legal reports.

What are the list of documents needed to verify at the time of registering your property?

  1. Approved plans
  2. Title Certificate from Advocate of current date
  3. Copy of IOD / Commencement Certificate
  4. Stamp duty paid receipt
  5. Demand Draft for payment of Registration fees.
  6. Property Mother deeds
  7. PAN cards of Sellers and Buyers
  8. Khata Extract

What is Clear Title?

A title that is free of liens or legal questions as to ownership of the property are Clear title properties.

What are Freehold Property?

Freehold properties can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes however in accordance with the local regulations.

Buying a freehold property is more preferable than the leasehold property as freehold are more stable & are likely to increase in value where the owner of the land has no time limit to his period of ownership. Sale of a freehold property does not require consent from the state and hence requires less paperwork, thus, making it more expensive than leasehold property. Before purchasing property from a company, it is necessary to verify with the Registrar of Companies that the property is not mortgaged or is not being used as a security against a loan, otherwise it is not considered a freehold property. These are the important aspects one should keep in mind before purchasing a property. Before purchasing any property, you should verify from the Registrar of Companies that the property is neither mortgaged nor security against any loan etc.

What is Survey ?

A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments, and other physical features is called as Survey.

What is Khata ?

A Khata is an important document having details about the property such as size, location, built up area and so on for the purpose of payment of property tax. A Khatha consists of two elements – Khatha Certificate and Khatha Extract.

Khatha Certificate enables us to apply for water connection, electricity connection or acquiring a commercial license.

Khatha Extract contains the details of the property like size, uses, purpose and valuations etc. obtained from the property assessment register. It can be obtained by paying a minimal amount of Rs 100 or 200, and is valid for five years.

What is the difference between Khata and Title Deed?

The difference between a Khatha and a Title Deed is that while Khatha is an assessment of a property for payment of tax the Title Deed confers ownership of property to the owner.

What are the different types of Khata?

There are two types of khata. An A khata means you are buying a property that is legal, and it will allow you to construct on it and obtain a trade or building license. B Khatha holders are not entailed to have building license, trade licence or loan from banks or any other financial transactions

It is advisable to go for properties having A Khatha as in case of B Khatha you are allowed to buy or sell a site, but you will face problems when you go for construction.

What is Built-Up Area?

Built-up area includes the carpet area and thickness of external walls, internal walls and columns.

What is Super Built-Up Area?

Super Built-up area includes common amenities, such as the area of lift shafts, lobby, and corridor, proportionately divided among all flats. The common usable areas, such as a swimming pool, garden and clubhouse, may also be included in it.

What is Carpet Area?

Carpet area is the area within the walls of an apartment that is for the exclusive use of the buyer. While computing the carpet area, the terrace and balconies are usually considered as half the actual area. It is typically 10-20% more than the carpet area and is also sometimes known as the plinth area.

What is Carpet Area?

This is the Actual Area under the roof. The area which we use i.e. usable area

What is Plinth Area?

It is the area upon which a structure rests.

What is Plot Area?

The plot area is the total area of the property

What are the documents requires for availing a home or property loan?

Refer Checlist for Bank Loan

What are the most essential things to consider before buying Home or Residential Plots?

Purpose, Locality, Price or Budget, Legal Approvals and Issues, Dimension or Size, Specification, Amenities, Additional Charges if any.

What is MUDA, DTCP, NA and KJP Approval?

Plots in Mysore which are approved from MUDA ( Mysure Urban Development Authority) are known as MUDA Plots. Plots which are approved from DTCP ( Department of Town & Country Planning ) are known as DC converted Plots. NA is a Non agricultural land (Agricultural lands converted for the purpose of Residential, Commercial or Industrial Use). KJP is same as CD report (Correct Dimension report) which spells out the plot area and its schedule.

What is Benami ?

Benami as the name suggests without name or no name is a transaction in which the real beneficiary is not the one in whose name a property has been purchased and the property is held by one person and amount for it is provided by another.

What is Benami property?

Assets of any kind — movable, immovable, tangible, intangible, any right or interest, or legal documents. As such, even gold or financial securities could qualify to be Benami.

What is TDR?

Transfer of Development Rights (TDR) means making available certain amount of additional built up area in lieu of the area relinquished or surrendered by the owner of the land, so that he can use extra built up area either himself or transfer it to another in need of the extra built up area for an agreed sum of money.