NRI’s Corner

NRI Corner

Whether you are looking to invest in a home or want to buy a property in Thane, Vihang Group has a proven track record of catering to your exact needs. The group is a full-service real estate company with the primary focus on offering you an appreciating asset. For investors looking to put their money without the risk of any loss, below are some of the important faqs.

Buyer

When buying your dream home, you need to consider these following factors

• Objective behind your purchase decision

• Reputation of the Real estate brand

• Budget you have allocated

• Location and amenities available in its vicinity

• The type of property you wish to buy

• Innovation, engineering excellence and design aesthetics offered

• Banks financing the project to make sure project is not stuck midway

• Payment options and financial assistance being offered

• Build-up and super build-up area mentioned in the brochure

• Transport Connectivity

• Project complies with the law of land

However, factors vary depending on kind of project. It is better to consult multiple entities before zeroing down on your dream home.

Before deciding whether to buy or rent, compare your EMI with rent. In case, the difference between your rent amount is not much (even if EMI is higher than rent) compared to EMI against the property you are considering for purchase; it is always advisable to opt for EMI rather wasting your money in rent because at the end monthly EMI will contribute in creating your own asset.
Each decision has its pros and cons. Ready-to-move makes sure you touch and feel the finished product, have a better understanding of your neighbors, helps you save on your rental expense, assurance that builder has complied with legal norms among others. Under-Construction on other hand proves to be cost effective option with more options to choose from. Moreover, payment terms can be customized after talks with builder, spreading over years.
Joint Ownership simply means jointly buying a property with someone else. There can me two or more joint owners. Buying with parents or siblings are some example of joint ownership. This helps in easing the financial pressure on each of the joint owners. There are also tax benefits in joint ownership.
Arriving at the actual prevailing cost of the property by studying various factors is Valuation of Property. Factors like location and age of the property, facilities being offered, other projects in its vicinity, and whether super buildup, buildup or carpet area are considered to value a property. The right approach in this perspective for a common man would be to take recent deals for properties in the same complex or nearby complexes to arrive at the closest value of the given property.
You invest your hard-earned money to buy a new property. To safeguard your deal, it is mandatory step to check some essential documents before you buy a new property. The list of documents are:

• Sale Deed

• Title Deed

• Approved Building plans

• Completion Certificate (Newly Constructed)

• Commencement Certificate (Under-construction property)

• Conversion Certificate (If agricultural land is covered to non-agricultural)

• Khata Certificate (especially in Bangalore)

• Encumbrance Certificate

• Latest Tax Receipts

• Occupancy Certificate
Yes, there is no limit to the amount of home loans you can avail within your permissible income limit.
Capital Gain Tax is a tax levied on profits/gains arising from the sale of property. Since property is a capital asset, capital gain tax is considered as income tax. Capital gain tax rate depends on whether it is long term capital gain (more than 2 -3 years) or short-term capital gain. The value of gain is calculated after adjusting transfer charges, renovation charges and inflation rate.

Investors

Real estate is comparatively less risky than other forms of investment. Choosing the real estate investment primarily depends on investor’s objective. However, here are some factors which investor needs to consider before taking the investment decision:

• Future cash flows

• Financial leverage capabilities

• Property Location

• Investment goals

• Decision to invest in under-construction vs ready-to-move property

• Indirect property investment

• Property value
Yes, flat purchaser requires No Objection Certificate (NOC) from the developer because financial institutions requires checks the NOC before they consider your application for Home Loan.
It would sound surprising to know that a home loan can improve your CIBIL score. The concept is simple: Any unsecured loan like personal loan, vehicle loan will reduce your CIBIL score and secured loans like home loan will improve your CIBIL score. The logical explanation for this is secured loan leads your efforts towards creating an appreciating asset, whereas unsecured loan leads your efforts towards creating a depreciating asset. However, this is not the end. It is important to choose a vendor with good reputation over transparent dealings. It’s the responsibility of home loan financing company to let the borrower know whether CIBIL score affects the eligibility of his/her home loan.

NRI

Non-Resident Indian can be defined as an Indian citizen

• Who resides abroad for employment or is an employer or vocation outside India or stays abroad under any given circumstance with an intention for an uncertain duration of stay is a non-resident.

• Who works abroad on assignment with foreign government agencies like United Nations Organization (UNO), including its affiliates, International Monetary Fund (IMF), World Bank etc.

• Officials of Central and State-Government and Public-Sector-Undertaking deputed abroad on temporary assignments or posted to their offices, including Indian diplomat missions, abroad.

Note: Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs) for the purpose of certain facilities.
Under Foreign Exchange Management Act 1999, residential status is determined by operation of law. The onus is on an individual to prove his / her residential status, if questioned by any authority. Reserve Bank does not determine the residential status.

Reserve Bank does not determine the residential status:

• Khata Certificate and Extracts: This is related to the registration of property and transfer of property. It also deals with the water & or electricity connection and trading and building license.

• Mutation Register Extracts: This deals with whether the construction is done on converted land. This certificate will be provided by Tahsildar or Village Accountant.

• Title deed/Mother deed/Conveyance deed/Sale deed: This is something that gives a proof showing the transfer of ownership from seller to buyer and also indicates the sale.

• General Power of Attorney: A “power of attorney” is a kind of legal authorization that empowers one person the right to authorize another person to act on his or her behalf as a legal representative and take all decisions pertaining to legal and financial strategies related to property transaction for him/her and this includes the sale or purchase of property on behalf of the buyer or the seller.

• RTC extracts: It is something that shows whether the construction is done on a converted land.

• NOC from Electricity Department/Pollution Control Board/Water Works/ Air Port Authority: NOC means no objection certificate, approval for these things listed below before construction.

• Building plan sanctioned by the Statutory Authority: This is mandatory, showing that the property is authorized or unauthorized.

• Allotment Letter from the Builder/Co-Operative Society/Housing Board/BDA.

• Supplementary agreement / Ratification Deed (if any): This is mandatory to catch any kind of changes, modifications or extensions that have been made across the certain clauses of Principal Agreement.

In accordance with the general permission, the following categories of people can purchase immovable property in India:

• Non-Resident Indian (NRI) - is a citizen of India who holds an Indian passport and has temporarily emigrated to another country for six months or more for employment, residence, education or any other purpose.

• Person of Indian Origin (PIO)- is a person of Indian origin or ancestry who is not a citizen of India, but is a citizen of another country. A PIO might have been a citizen of India and subsequently taken the citizenship of another country, or have ancestors born in India or other states.


The general permission, however, covers only purchase of residential and commercial property and not for purchase of agricultural land / plantation property / farm house in India.

No. Indian laws does not define any Lock-In-Period for such Investment or simply saying, there is no Lock-In-Period.

Keeping with the ‘Customer Centric’ mind-set, our dedicated customer relations team makes sure the client queries are resolved at earliest.

Buy
Whether you are planning to buy a new home or commercial property, we make sure that you are rightly informed and advised on the changing market trends, current market values, investment expectations and returns

Sell
We make your property selling process convenient with our complete and timely guidance on technical knowledge to sell residential and commercial properties.

Lease
We offer assistance for Lease services

Vihang Property Advisory Services Vihang Group is a consumer-centric organization, focused on providing value creation beyond their expectation. Being a leader in building luxury apartments in Thane, our transparency policy is defined along the lines of providing a clear picture to the client about the valuation and guiding with 360-degree advisory support to make a concrete decision.

Expertise in the field of Real Estate.

• Most comprehensive data base and analytics support of flats in Thane
• Assisting on valuation of residential or commercial property
• One point of contact for complete seamless advisory service.
• Making sure that any queries pertaining to permits and compliance are clearly understood

NRI Corner

Whether you are looking to invest in a home or want to buy a property in Thane, the Vihang Group has the proven track record of catering to your exact needs. The group is a full-service real estate company with the primary focus on offering you an appreciating asset. For investors looking to put their money without the risk of any loss, below are some of the important faqs.