Nag Projects >> Faq
- Layouts are the most preferred residential sites as they offer a host of benefits. About 50% of the land is dedicated for open spaces, gardens, parks and other amenities. You get to live in green environment with more breathing space.
- When I buy a site do I get a house too?
- No. What we offer is a site with amenities in the community. You have to build your house there. We offer Architectural/building services to build your house at additional cost.
- What is a BMRDA approval and what does it mean to me?
- BMRDA stands for Bangalore Metropolitan Regional Development Authority and is a governing body taking care of the infrastructure and residential projects in Bangalore. BMRDA approvals are given only to projects, which follow the strict guidelines prescribed by the BMRDA.
- What are the benefits of buying a BMRDA approved property?
- - Clear titles
- - Better price appreciation
- - Better re-sale value and re-sale formalities
- - Well within the city limits.
- - Better infrastructure and other facilities and approach.
- - Easy and simple registration process.
- You can book a site by paying 25% of the site price. You will get an agreement document and up to 30 days time to pay the balance and register the site.
- What is the registration process?
- After paying the full payment, you can attend in person or a person authorized by you with a GPA (General Power of attorney) can get the registration process done at Registrar office. Our staff can assist you with the registration process.
- What documents are required for registering the site on my name?
- What documents are required for registering the site on my name with a GPA holder?
- In case of GPA holder is registering on your behalf; he/she should carry the GPA given by you in his/her name in original.
- If the site is purchased along with a co-purchaser do both of us have to be present at the time of registration?
- Yes. The co-purchaser needs to accompany you at the time of registration
- Does the co-purchaser have to carry the same documents as me while registering the site?
- Yes. The co-purchaser needs to carry the same documents as you at the time of registration.
- When can the site be registered in my name?
- The sites are registered in the name of the owner as soon as the company receives the total cost of the site.
- How can I obtain financing?
- Banks in India provide loans upto 75% of the value of the site. Our staff can provide assistance in obtaining a loan.
- What are the papers I require to process my loan through a bank?
- Bank people send you the check list. Generally a passport size photograph, last 3 pay stubs, employment verification, last two years income tax returns, bank statement for last 6 months where salary is deposited, Residential Address proof etc., are needed.
- Do you offer services for building a home?
- Yes. We will introduce good architects and contractors for you.
- Are there any income tax considerations while transferring newly acquired property?
- If the transfer takes place within three years of purchase, the income tax exemption under Section 54F of the Income Tax Act does not hold good. Check with your tax consultant for details.
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