FAQ

We provide real estate services across all major areas of Kolkata, including: South Kolkata, Central Kolkata, North Kolkata, Salt Lake, New Town, Rajarhat, Ballygunge, EM Bypass, Tollygunge, Garia, Behala, Joka, Alipore, New – Alipore, Dum Dum, Madhyamgram, Howrah & Hooghly.

Carpet Area is the actual usable area within the walls of the property, where you can lay a carpet. It excludes the thickness of the outside walls, balconies, verandas, and common areas like lobbies, lifts, staircases, and corridors.
In simple terms, Carpet Area = Net usable floor area inside the property.

Built-up Area is the total area of a property, which includes the carpet area plus the thickness of walls and other usable areas like balconies, terraces.
Built-up Area = Carpet Area + Wall Area + Utility Areas (balcony, terrace, etc.)

Super Built-up Area is the total area of a property, which includes Built-up Area plus proportionate share of common areas such as lobbies, staircases, lifts, clubhouse, corridors, and other shared amenities.
Super Built-up Area = Built-up Area + Proportionate Share of Common Areas

Allotment Letter is a formal document issued by a builder or developer to a property buyer, confirming that a specific property unit (apartment, plot, or commercial space) has been officially allotted to them.
It is issued after the buyer pays the booking amount or part of the purchase consideration and serves as the first official document of property ownership rights, even before the Sale Agreement is executed.

Cost Sheet is a detailed financial statement prepared by the builder or developer that provides the complete breakup of the total cost of a property.

Agreement for Sale is a legal contract between a property buyer and seller that outlines the terms and conditions of the property transaction.

Demand Letter is a formal written communication issued by a developer to a property buyer, requesting payment of an instalment amount as per the event completion / milestone.

Statement of Account is a detailed financial record issued by the builder or developer to the property buyer that shows the amount paid / payable as per demanded amount mentioned in the payment schedule.

Conveyance Deed is a legal document that officially transfers the ownership rights of a property from the seller to the buyer.
It is the final proof of ownership and is registered with the local registrar’s office under the Registration Act.

Possession Letter is a formal document issued by the builder or developer to the property buyer at the time of giving possession of the property.

Interest Letter is a notice/letter from the builder stating that the buyer has delayed payments, and as per the agreement, interest is chargeable on the outstanding dues.

Nomination Agreement is a legal document that allows the original buyer (the “nominator”) of a property to transfer their rights and obligations under the original agreement to another person (the “nominee”) before the property is registered.

Memorandum of Understanding (MOU) is a written agreement between two or more parties that records the terms and conditions of a proposed property transaction.

Interest Letter is a notice/letter from the builder stating that the buyer has delayed payments, and as per the agreement, interest is chargeable on the outstanding dues.

Cancellation Letter is a formal written document issued when a booked or allotted property unit is cancelled by either the buyer or the builder/developer. It serves as an official record and communication of the termination of the transaction.

Market Value refers to the estimated price at which a property would sell in the open market, on the date of valuation, under normal conditions.
It is the fair value of the property agreed upon between a willing buyer and a willing seller, without any pressure or special advantages.

Transaction Value is the actual price at which a property is bought or sold between the buyer and seller.

Circle Rate (also known as Guideline Value or Ready Reckoner Rate) is the minimum value of a property set by the state government for registration purposes.

Stamp Duty is payable on the transaction value or circle rate, whichever is higher.

1. Under-Construction Residential Property on outright sale

● 1% GST will be applicable on affordable housing on carpet area up to 60 m² in metros or 90 m² in non-metros and total property value not exceeding Rs. 45 lakhs.
● 5% GST on Residential Units on carpet area greater than 60 m² in metros or 90 m² in non-metros or price above Rs. 45 lakhs.

2. Completed Residential Property

● No GST applies, since these are treated as completed goods and not services.

3. Under Construction Commercial Property on outright sale

● 12% GST

4. Real Estate-Related Services

● 18% GST on services such as brokerage, property management, maintenance and leasing.

Legal Charges refer to the fees paid for preparing, verifying, and registering property-related documents during a transaction. These charges are separate from stamp duty and registration fees.

Extra Development Charges (EDC) collected by builders/developers from property buyers for developing external infrastructure facilities around a project.

Utility Charges are the upfront, onetime fees paid by buyers to builders or development authorities for establishing permanent utility connections and infrastructure in a property.

Club Charges paid by buyers for the use and development of clubhouses and related recreational facilities within a project.

Nomination Transfer Charge is a fee paid to developer when the ownership rights of a property are transferred through nomination before registration of the sale deed.

Completion Date refers to the official date on which the construction of a property or project is considered finished in accordance with the sanctioned building plan, approved layout, and regulatory requirements.

Completion Certificate (CC) or Occupancy Certificate (OC) is an official document issued by the local municipal authority or development authority after verifying that a project has been constructed according to the approved building plan, layout, and prescribed safety norms.

Nomination Transfer refers to the process of transferring the rights and obligations of a property from the original allottee (buyer) to another person (nominee), usually before the final sale deed, possession, or registration is completed.

Maintenance Charge is a recurring fee collected by the housing society or developer to cover the cost of maintaining and managing common areas, shared facilities, and essential services in both residential and commercial properties.

Municipality Deposit is a one-time amount collected by the builder or development authority from a property buyer. This deposit is paid to the local municipal body on behalf of the buyer to cover property tax liabilities until the project receives its Completion Certificate (CC) or Occupancy Certificate (OC).
After the CC or OC is issued, the responsibility for paying municipal/property tax is transferred from the builder to the individual property owner.

Sinking Fund is a reserve fund collected by developer or housing societies from property owners to cover the cost of major future repairs, replacements, or upgrades of the building and common infrastructure.

A Deed of Conveyance or Sale Deed is the legal document that officially transfers ownership of a property from the seller to the buyer.

Yes, we assist with housing loans, NRI housing loans, commercial property financing, plot loans, re-finance, home loan balance transfer, loan top-up, LRD finance and bank approvals through our financial partners.

A foreign national of Indian origin (PIO/OCI) can freely buy residential and commercial properties in India, but not agricultural land, plantations, or farmhouses. Payments must follow FEMA guidelines, and RBI rules apply for repatriation of funds.

Foreign nationals of foreign origin cannot buy property in their individual capacity, but they can buy Residential, commercial, and construction development projects through an Indian subsidiary or company under the FDI (Foreign Direct Investment) policy and FEMA regulations but they are not permitted to buy Agricultural land, farmhouses, plantation properties.