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FAQ’s

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A home extension loan is a loan which helps you to meet the expenses of any alteration like extension/expansion or modification of your home. You can avail of a home extension loan, after obtaining the requisite approvals from the municipal corporation.

A floating interest rate loan is a loan where the interest rate payable is linked to the market rate like the bank lending rate. As the bank rate varies, the interest rate payable by you will also rise and fall. Hence you will have to bear the risk of interest rate fluctuations; the floating interest rates offered are slightly lower than the fixed interest rates.

A fixed rate home loan, is a loan where the interest rate is constant over the entire tenure of the loan tenure.

The best way is to compare the EMIs and the tenures of the two home loans. The loan carrying the lower EMI for the same tenure is the cheaper option.

Reducing balance is the method of reducing the principal amount already paid, from the outstanding loan amount. Every time you make a payment, you pay interest on that part of the original principal sum that has remained un-repaid till then.

Tax benefits are available on both the principal and interest components of the loan as per the income tax act. The upper limit of the amount of deduction of interest repayment allowed from your gross total income is now Rs. 150,000 p.a. Besides, Sec. 88 offers you tax benefits for principal repayments. The principal repayment amount included in the overall limit of Rs 100,000 offered by this section.

Housing loan will be sanctioned depending upon your repayment capacity and according to your income. Your spouse’s income can be included, if you want to increase the amount of your loan. The maximum loan that can be sanctioned varies with housing finance companies and ranges from Rs.10 lakh to Rs.1 crore

The first PEMI is payable by cheque by the end of the month in which the disbursement is made. Each subsequent PEMI is payable at the end of every month till the commencement of EMI.

In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.

The best way is to compare the EMIs and the tenures of the two home loans. The loan carrying the lower EMI for the same tenure is the cheaper option.

In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy. You can replace old PDCs with new ones within 5 – 7 working days.

EMI payments start from the month following the month in which the full disbursement has been made.

EMI refers to equated monthly installment. It is a fixed amount which you pay every month towards your loan. It comprises of both, principal repayment and interest payment.

Schedule for Electrician

  • Noting Meter reading on daily basis and maintain a log check for all the defective common lights fitments and rectify the same at the earliest.
  • Check oil levels, filters, DG, STP and minor pump faults.
  • Turn up for emergency electrical faults at short notice.
  • Collection / Payment of common light bills on schedule.

Schedule for Plumber

  • Check parking slung plumbing pipes and down take lines for leakages and seepages.
  • Check all gully traps, chambers and sewage chambers for overflow
  • Attend per flat complaint regarding bath / wash fittings and slung plumbing in the bathroom and also kitchen sink choke ups.

Schedule for Club Attendant

  • Maintain in/out record for Gym and Swimming pool activity.
  • Request customer to adhere to the schedule of timings.
  • Keep a check on equipment faults and report the same to the maintenance supervisor in time.
  • Maintain the complaints register and forward to office boy for completion of work signature from customer.

Schedule for Security

  • Supervisor:
    (a) Ensure his guards are properly turned out and adhere to duty timings.
    (b) Instruct his guards to check entry / exit of vehicle form the main gate in the most holistic manner.
    (c) Ensure his guards restrict unauthorized entry.
    (d) Maintain proper duty registers and provide the same for scrutiny on demand to our Maintenance staff.
  • Guards:
    (a) Guards at the main entrance gate are to inspect / observe in out movement of men and material and log it in the register provided.
    (b) The guards at the basement are to ensure that the residents park their vehicles in an orderly manner and assist the parking of the vehicle.
    (c) Basement guards to ensure that the common lights are switched on and off at justified timings.
    (d) Do not allow anybody toying around with the lift, stop personnel from spitting around on the basement walls.
    (e) Guards on the periphery are to ensure that people do not jump over the periphery fencing.
    (f) Guards in proximity to the STP and U/G water pump assembly/ fire pumps are to report any abnormal noise to the club attendant.

We have outlived the times of independent living by ways of ever shrinking city spaces and modern construction trends. We are now bound to vertical limits rather than horizontal expansions. The need of the hour is a better co-existence with varied cultures and cosmopolitan trends. The amalgamation with our society will pave way to a harmonious living. The under mentioned activities need utmost attention to make your stay the most comfortable and pleasant and nurtures a healthy sense of living in a community. It also promotes environmentally the most viable option for us and a much needed greener planet.

Club House
The club house at your premises is a leisure zone and its utilization and upkeep will only bolster in its serenity. The club house should stand out and be a hall mark at your premises. The various equipments at the gymnasium, the swimming pool, multipurpose hall the lawn just add to the luxury and comfort provided. The same needs to be maintained against damages, food stains and breakages. To ensure that the available resources are exploited judiciously and remain work worthy ensure you follow the guidelines with understanding.

Tenancy
Second homes are turning out to be the new trend of the town. Essentially all of them are not kept vacant. Here arises the need of tenancy and guidelines to ensure peace and harmony prevailing with certain distinction from the other Owner occupants.

Maids / Servants / Drivers / Domestic Help
The requirement of maids / servants / drivers / domestic help cannot be undermined. But the very aspect of security governs the recruitment of the above help. Ensure you have validated and provided the requisite documents to the society office prior enrolling the people at your domestic duties. (a) Police verification carried out and documents held. (b) Photo identity provided at society office. (c) Ensure they enter their names at the gate prior entry and strike off the same prior exit from the society. (d) Valid passes are provided to them for working at the campus.

Electrical
The ultimate source of luxury in today’s life is electricity and appliances running on it. But the ever reducing resources generating electricity are a major concern. Endeavour should remain to use electricity cautiously as no sooner than later we would be too late for reconciling our energy needs. (a) Always make sure that the parking area lights, common space lights and other common amenities lights are switched off when not in use and alternate lighting arrangements be used wherever feasible. Try and reduce the overall light fitments and keep specific check on the wattage of fitments being used. (b) Maintain a timing chart to run motors required for various activities and switch their running hours by shifting to standby options as and when possible. (c) Check for proper insulation of cables running thru your homes and common spaces. (d) Run electrical equipments with proper ISI markings, energy saving markings. (e) Select proper plugs for heavy duty electrical appliances as improper selection might trip your supply or even damage the plugs including your appliances.

Water
This element forms an integral part of our life and daily activity. The consumption rate is to be curtailed by one and all to ensure proper utilization of the fast depleting resource. The option here is not production but reduction in usage. We have to depend on natural resources for the exploitation and need to re-examine our strategy before we take an irrevocable path. We have to reimburse the maximum on water related issues. The following points are to be considered for our well being.

Lifts
The use of lift reduces your time space to reach your floor. But ensure that children do not play around with lifts. The under mentioned points surely will keep you away from early maintenance schedules. (a) Close the lift doors carefully or allow the automated doors to shut or open on their own. (b) Lifts are designed for specific load carrying capacity. Extra load can cause an accident. Do not bypass the extra load tripping mechanism and run your lifts.

The Reserve Bank of India has vide Notification No. FERA/152/93-RB dated 26.05.93 permitted persons of Indian Origin whether holding Indian passport or a Foreign passport (NRI), to repatriate the original investment in equivalent foreign exchange after obtaining prior approval from the Reserve Bank of India. This facility will however be restricted to maximum of two houses. The above permission allowing repatriation is subject to the following conditions:

  • The residential properties are purchased on or after 26.05.1993.
  • The residential properties are not transferred or sold for a period of 3 years from the date of the final purchase deed or from the date of payment of final instalment, where the agreement for purchase so provides.

Aluform Technology
We are the pioneer in ALUFORM technology in India. The ultimate purpose to move to this culture was to upgrade our construction technology and provide our deemed customers a better option to invest and live. Also the structure so created is stronger to Conventional brick work structures and the earthquake resistant strength increase to Manifold. The wall finish is of superior quality and outer paint layers also have a lasting effect. The walls provided are with concealed fittings and proper care is to be taken prior carrying out any work on the wall. The concrete walls are of 4 inch TO 6 inch thickness and any drill activity on the wall is to be worked as per the thickness of the wall. The following points are a must for maintaining the strength and durability of the concrete walls.

Doors
The most import aspect of your home in terms of security and even decoration. Some points merit attention to ensure the entrance does not give a shabby look and provoke burglars.

  • Ensure door hinges, locking arrangements are not loose screwed.
  • Magic eye or door vision camera phones on the door should be clear to provide better image view.
  • Door chain is properly bolted and strong enough to hold the door if pushed.
  • Latch key arrangement is proper and do use conventional locking systems in addition while moving out of your homes.
  • Ensure you do not bang doors on the frame or even on the walls as this slowly loosens your door frame fasteners.
  • Tighten the door screws periodically to ensure door alignment.
  • Clean / mop the main door with dry cloth only.
  • Understand rectification should be the last resort as renovation is never a new fitment.

Windows
The windows provided are aluminium frames and powder coated. They are strong enough to sustain weather conditions but man handling could land up you in trouble. The upkeep needs to be done on a periodic basis.

  • The window glasses are roller sliders and thus the aluminium tracks are to be kept clean of dust particles and other small hard particles.
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  • The tracks if not kept clean may also accumulate rain water and give way to water seepage through your windows.
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  • Ensure you keep your glass panes closed during stormy or rainy climate so they do not bang and break.
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  • Apply oil or lubricants on the hinges to ensure proper opening and closing of operable aluminium-glass frames.
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  • Use window stoppers to keep the panes on a stand still when opened.
  • Windows can be mopped with wet and dry cloth. Do not use knife, nail or any other pointed material to clean windows.
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  • Wire mesh is not be scrubbed, only clean it with broom. It might loosen if handled improperly.

Kitchen
The pivotal space of your home needs utmost care and attention in terms of hygiene and general look after. The most used space falls as an easy prey to rust, flies, insects or even dampness at times. The under mentioned points will help you stay away from trouble.

Sanitary Space and Fitments
The luxury look to your wash and toilet depends on the fitment and accessories. The taps, cocks, levers, towel hangers, shower extensions provided are continuously exposed to water. They are surely made to sustain, but still you do have to keep them maintained for long lasting working effect.

Flooring Tiles
The flooring provided to your homes is of vitrified tiles. The polished surface is very sensitive and always keeps away from the points mentioned below.

  • Acid on tiles is just a no. This stains the tiles on a permanent basis.
  • Excessive use of disinfectants, detergents and liquid soaps will damage the tile by way of color fading and even penetrating the tile joints.
  • The water will flow through the hair line cracks onto the mortar below and find its way to some point leading to leakage or seepage.
  • Furniture is not to be drag shifted. The wooden or metal legs of your tables, chairs, sofa sets, beds, other house hold furniture would leave a line mark on the tiles and at times even break the tile.
  • The damaged tiles are not easy to be replaced. Even if replaced the color pattern may vary at times to the original ones.
  • The availability also is a point of concern as the pattern keeps on changing in the ever evolving market trends.
  • Keeping your homes clean is most essential but throwing buckets of water over the floor is not recommended.

The Reserve Bank of India on an application in Form IPI I may consider favourably property by Foreign Nationals of Non-Indian origin provided:

  • The purchase consideration is met out of funds remitted from abroad.
  • The property is acquired for bonafide residential use.
  • The Foreign National of Non-Indian origin undertakes not to repatriate the sale proceeds.

Under Section 29 of the Foreign Exchange Regulation Act 1973, the Reserve Bank of India has granted General Permission to Foreign Citizens of Indian origin and Indian Citizens residing outside India to let out their immovable properties (Commercial / Residential). The rental income or proceeds of any investments out of such income shall be repartriable outside India subject to the conditions mentioned on next page.

The Reserve Bank of India has vide Notification No. FERA/152/93-RB dated 26.05.93 permitted persons of Indian Origin whether holding Indian passport or a Foreign passport (NRI), to repatriate the original investment in equivalent foreign exchange after obtaining prior approval from the Reserve Bank of India. This facility will however be restricted to maximum of two houses. The above permission allowing repatriation is subject to the following conditions: –

  • The residential properties are purchased on or after 26.05.1993.
  • The residential properties are not transferred or sold for a period of 3 years from the date of the final purchase deed or from the date of payment of final instalment, where the agreement for purchase so provides.
  • Non-resident Indians holding Indian passport do not require any permission from RBI for acquiring Immovable Property for bonafide residential purposes as section 31 of FERA 1973 is not applicable to them.
  • on-resident Indians holding Indian passport may pay the purchase consideration either by remittance of funds from abroad through normal banking channels or out of NRO Account or out of NRE Account or out of FCNR Account.
  • As per the recent relaxation RBI has granted General Permission to Non-resident Indians holding Foreign Passport (i.e. Foreign Citizens of Indian Origin) to acquire, hold, transfer or dispose off by way of sale or inheritance of immovable properties situated in India provided
  • The property is for the purchaser’s bonafide residential purpose.
  • The purchase consideration is met either by remittance of funds from abroad through normal banking channels or out of NRE/FCNR Account or out of FCNR Special Deposit Account.
  • Foreign citizens of Indian origin are however required to declare the properties to RBI within a period of 90 days from the date of purchase in Form IP 17. The following documents must be submitted along with the declaration
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