FAQ

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The Sub-Registrar of the area, in whose jurisdiction the property is located, is the appropriate authority for knowing the market value of the property.
A freehold property (plot or a flat) is one where there is a whole and sole owner(s), ownership is full and unconditional (within the provisions of the laws of the land) and there is no lessor / lessee involved.
Carpet Area:This is the area of the apartment/building which does not include the area of the walls. Built up Area: This includes the area of the walls also Super Built up Area: This includes the built up area alongwith the area under common spaces such as the lobby, lifts, stairs, etc. This term is therefore only applicable in the case of multi-dwelling units.
There are a number of documents to verify including approved layout plan/ approved building plan, ownership title documents for land, Encumbrance etc. You should engage a competent advocate for a formal advise before you purchase a property.
Yes. Normally it is desirable to appoint a Power of Attorney in India to represent you in dealings in India. The Power of Attorney should be executed as per drafts provided by the housing finance company. The Power of Attorney can be given to any person of your choice in India.

The following documents are required along with the application form: Photocopy of the labour contract duly countersigned by your employer (translated to English for non-English documents).
certificate (in English) specifying the following:
Name (as it appears in the passport).
Date of joining.
Passport Number.
Designation.
Perquisites and salary.
Photocopy of labour card/identity card.
Photocopy of valid resident visa stamped on the passport.
Photocopy of monthly statement of local bank account.
Property related documents.

Own Contribution is the cost of the dwelling unit financed less the loan amount. The own contribution should be met from direct remittances from abroad through normal banking channels or from the Non-Resident (External) Account/Non-Resident (Ordinary) or the Non-Resident Special Rupee account in India.
NRIs can avail loan for buying or constructing a new home, extending or improving an existing home or even to buy a plot.
The Reserve Bank of India (RBI) has issued certain guidelines for granting loans to Non-Resident Indians. The guidelines are:
The loan amount shall not exceed 85% of the cost of the dwelling unit.
Own contribution, which is the cost of dwelling unit financed less the loan amount, can be met from direct remittances from abroad only through normal banking channels, your Non-Resident (External) [NR (E)] Account and /or Non-Resident (Ordinary) [NR (O)] account and /or Non-Resident Special Rupee account [NRSR] in India. Repayment of the loan, comprising of the principal and interest including all the charges are to be remitted from abroad only through normal banking channels, your Non-Resident (External) [NR (E)] Account and /or Non-Resident (Ordinary) [NR (O)] account and /or Non-Resident Special Rupee account [NRSR] in India.
The Income Tax act has made provision u/s 54 & 54A–G of the act whereby you can claim exemption from tax on capital gains. Sec. 54: Purchase or construct another residential house worth the amount of capital gains. Sec. 54 protects capital gains arising out of sale (or transfer) of a residential house whether self-occupied or not, provided the assessee has purchased within 1 year before or 2 years after the date of sale of the original asset or has constructed within 3 years after that date, a residential house. The only condition is that the newly-acquired property should not be sold within 3 years from the date of its purchase or construction. If this condition is not satisfied, the cost of the new asset is to be reduced by the amount of long-term capital gains exempted from tax on the original asset and the difference between its sale price and the reduced cost will be chargeable as short-term (yes, short-term!) capital gain earned during the year in which the new asset is sold. Sec. 54EA & 54EB: Invest within 6 months the amount of capital gains in avenues covered by Sec. 54EB which locks in the funds for 7 years or invest the of sale proceeds in avenues covered by Sec. 54EA which locks in the funds for 3 years. Sometimes the same avenue also attracts tax rebate u/s 88. However, if the assessee has availed of the Sec. 54EA/EB exemption from capital gains by contributing a certain amount, the rebate u/s 88 will not be allowed on the same amount and vice versa
These expenses are allowable expenses from the full value of consideration of the sale of house property.
No such benefits are not available for commercial Properties.
Under Section 88 of the income tax you can claim benefit for the principle repayment, interest on loan is deductible u/s 24 from income from House Property.
The house, in the form of a square or a rectangle, is superimposed with a grid of nine by nine divisions. Based on the direction, either north, south, east or west, the division in which the main entrance is to be located is determined.
There is a close relationship between Vastu and Astrology. In astrology, the fourth house has been attributed to immovable property, amongst other things. If the lord of the fourth house, the planets in the fourth house, the aspects to the fourth house, etc. are all good, then the person will enjoy property. Otherwise, the results will be negative. There are also many special conditions or ‘yogas’ such as Ayatna Griha Prapti Yoga, Vichitra Prakara Soudha Yoga, etc. which destine a person to different conditions of property holding. Further, one has also to see the planetary configurations at a given point of time, in conjunction with one’s nakshatra in order to fix a muhurta or an auspicious time for starting various stages of construction work as well as the griha pravesh.
Vastu Purusha is the deity ruling the plot of land. Legend has it that when Lord Shiva was fighting the demon Andhaka, His perspiration fell on the ground, out of which was born the Vastu Purusha. This hungry being started devouring all that came in the way. When the Gods in the heaven took up this matter to Lord Brahma, the creator, He ordained them to hold the Purusha face down with the help of 45 deities. Lord Brahma blessed the Vastu Purusha to be the deity of plots of land and that all owners would pray and give offerings to him, in return for which, he would protect the owners/inmates. That is how the Vastu Purusha Puja came into being.
Vastu Shastra is the ancient art and science of building. There are many age old books on Vaastu Shastra. Some of them are Samarangana Sutradhara, Mayamata, Manasara, Matsya Purana, Brihat Samhita, etc.