2 & 3BHK Apartments in Electronic City With 50+ Amenities

• The guideline value is assigned by state government based on the development of the location.
• The price that a property can command in the open market is known as its market value. The market value also varies in the same location depending on the facts like i.e.,
  • Developers profile.
  • Procurement of OC/CC.
  • Extent of development.
  • Construction quality/specifications.
  • Amenities and Open Space.
  • Project Status

The valuation process evaluates the market value of the property. Demand and supply criterion operating in the market, as well as other factors like property type, construction quality, location, local infrastructure available, maintenance, which are the parameters considered for deriving the market value.

When ownership rights for a piece of property are given to the purchaser for a price that property is referred to as Freehold Property. The freehold property can be registered or transferred in part(s).

An agreement of sale, followed by execution of absolute sale deed of the property would be considered as a conclusion of the sale. Usually, the entire amount is paid at the time of executing absolute sale deed.

The buyer is liable to pay stamp duty.

The area of an apartment / building, exclusive of the walls is known as carpet area. This is the area that is actually used and in which a carpet can be laid. When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts and stairs is called super built-up area.

Legally, the super-built-up area owned by the individual is the basis for calculation of maintenance charges.

UDS is nothing but the proportionate extent of land that you own collectively along with the other flat owners in the project. This is not a clearly demarcated extent but a notional one as your land area can be anywhere within the extent of the entire property. 

The mandatory facilities to be provided by a residential project.

• Rain water harvesting.
• Solar water heating system.
• Sewage treatment plant.
• BESCOM permanent power supply.
• DG Power backup.
• Organic waste converter.

Floor Area Ratio is the primary factor for determining the extent of construction that can be done in a given extent of land based on the approach road width for the property.

• Electronics City.
• Sarjapur Road.
• Whitefield
• Thanisandra Road/ New Airport Road.

                The above markets command descent rental income due to close proximity to IT parks and   social infrastructure. This also results in better property appreciation.

Bank will determine your loan eligibility largely by your income and repayment capacity.       Other important factors include your age, qualification, number of dependents, your spouse’s income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to Bank on a specific date each month till the loan is repaid in full. The EMI comprises of the        principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

Own Contribution’ is the total cost of the property less Home loan.

For your convenience, Bank offers various modes for repayment of the loan. You may issue standing instructions to your banker to pay the instalments through ECS (Electronic   Clearing System), opt for direct deduction of monthly instalments by your employer or issue post-dated cheques from your salary account.

You can apply for a home loan at any time once you have decided to purchase a property, even if you have not selected the property or the construction has not commenced.

Yes. You are eligible for tax benefits on the principal and interest components of your home loan under the income tax act, 1961. As the benefits could vary each year, please do check      with our loan counselor about the tax benefits which you could avail on your loan.

Security of the loan would generally be security interest on the property being financed by the bank and/or any other collateral / interim security as may be required by the bank.  It is extremely important for you to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.

Repayment of the principal commences from the month following the month in which you avail full disbursement of your loan. Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called Pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.

In the case of under-construction properties, the bank also offers you a unique ‘tranching’ facility wherein you can choose the instalments you wish to pay till the time the property is ready for possession. Any amount over and above the interest which is paid by you goes towards principal repayment, thus helping you repay the loan faster. This is especially useful in case your disbursements are likely to be spread over a longer period of time.

The ’agreement to sell’ in a property transaction is a legal document executed on a stamp paper that records in writing the understanding between the buyer and the seller and all the details of the property such as area, possession date, price etc.

Encumbrance on a property refers to claims or charges on the property due to liabilities such as unpaid loans and bills. It is critical that during your home search you consider  properties which are free of encumbrances of any sort.

Yes, you could go in for a ‘home conversion loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.

An under-construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have invested your own contribution in full. You can submit the request for the disbursement of your loan by visiting any of home-loan offices or online by logging on to ‘online access for existing customers’.

Once the bank receives your request for disbursement, they will disburse the loan in full or in instalments, which usually do not exceed three in number. In case of an under-construction property, the bank will disburse your loan in instalments based on the progress of construction, as assessed by us and not necessarily according to the developer’s agreement. You are advised in your own interest to enter into an agreement with the developer wherein the payments are linked to the construction work and not pre-defined on a time-based schedule.

Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment in floating ROI without any charges, in fixed ROI subject to the applicable prepayment charges. We also offer a free-of-charge facility to accelerate your loan repayment called ‘accelerated repayment scheme’. This option provides you with the flexibility to increase the EMI’s every year in proportion to the increase in your income which will result in you repaying the loan much faster.

Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable properties other than agricultural land/farm house/plantation property, in India. They are, therefore, not required to obtain separate permission of Reserve Bank or file any declaration.

The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from any non-resident accounts maintained with banks in India.

Yes, Reserve Bank has granted general permission for sale of such property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India or paid out of balances in non-resident accounts maintained with banks in India.

In the event of sale of immovable property other than agricultural land/farm house/plantation property in India by a NRI or PIO, the authorized dealer may allow repatriation of the sale proceeds outside India, provided all the conditions are satisfied.

Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO.

Yes. Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income is eligible for repatriation

Reserve Bank has granted general permission to certain financial institutions providing housing finance, to grant housing loans to NRI’s for acquisition of a house/flat for self-occupation subject to certain conditions. The purpose of loan margin money and the quantum of loan will be at par with those applicable to housing loans to residents. Repayment of loan should be made within a period not exceeding 15 years out of inward remittances or out of funds held in the investor’s NRE/FCNR/NRO Accounts

Yes, such housing loans availed in rupees can also be repaid by the close relatives in India of the borrower.