FAQ
Usually Asked Questions
What is an Approval Layout?
Approved layout is one which is approved by either CMDA or DTCP according to the location of the land. Lands within the metropolitan area will be accorded by the CMDA and the lands outside will be done by DTCP. This can be verified with the layout number given by the Government. Status of Approval can also be obtained from CMDA website.
What is approval plan?
Before the commencement of construction the proposed construction must be approved by the local body. Without the sanction plan, the commencement of construction is illegal. All the sanctioned drawings will have a unique number for the approval. The sanction will be accorded to the building only after verification of all the documents and after complying with development control rules laid down by CMDA.
What does FSI mean?
FSI is an abbreviation of the term floor space index. It has great significance in the real estate industry since it is the lone determinant of what would be the total floor area of a building vis-à-vis the size of the land on which it is being built. FSI depends on a number of factors like frontage, road width etc. Essentially, the ratio of total floor area to the size of the land, an FSI of 1.5 indicates that the total floor space that can be constructed is one and a half times the gross size of the land on which the construction will be done.
What does Guideline Value mean?
The value that the government fixes for land in different parts of the city, taking into account available infrastructural facilities and growth plan, is referred to a Guideline Value. The Guideline Value of land is subject to periodic revisions in order to balance them with market price. The stamp duty to be paid for registering a property in the homebuyers’ name is based on Guideline Value. As such, Guideline Value can be a primary indicator of the price of a property in any given location.
do you arrange site visits?
Yes, we do arrange site visits upon prior appointments. Please call 044-26622335, to fix up a site visit.
is it necessary to pay infrastructure fee?
Yes, as this is a fee paid to the Tamil Nadu government for the ultimate benefit of the homebuyers. The Tamil Nadu government collects an infrastructure fee upfront from builders for making use of facilities such as roads‚ drainage‚ sewerage‚ and drinking water supply. As the ultimate beneficiaries, homebuyers are expected to reimburse the fee paid to the government by the builder.
What does UDS Mean?
UDS stands for undivided share of land. It is extremely important to have a clear idea about it because it cannot be physically partitioned or demarcated. However, the conveyance deed in favor of an apartment owner will mention a specific figure as UDS, which is actually the specific portion of land an apartment occupies in relation to the super built up area. The sum total of the UDS of all the apartments in a building should be equal to 100% of the extent of land on which the construction stands. Once the Sale Deed has been executed, homebuyers, in their own interest, must confirm the UDS of their respective apartments by obtaining individual Encumbrance Certificates (EC). An EC accurately reflects the UDS of an apartment and it is legally binding. Once 100% UDS has been conveyed to the homebuyers in a complex, the developer/landowner or their legal heirs would have passed on all their rights in the property to the apartment owners. This will debar the developer/landowner or their legal heirs from making any claim or putting up further constructions in the property.
What is meant by carpet area and built-up area? which areas are included in the cost of the apartment?
Here are 3 different terms that you should know about
Carpet area: This is the total area of all the floors excluding the area taken up by the walls. It is basically the area where the carpets can be laid out.
Built-up area: This area includes the carpet area plus the area that is taken up by your walls and balcony
Super built-up area: This is the built-up area plus the area taken up by common areas such as community halls, lobby, elevator, stairs etc.
When you see property listings, you see the carpet area and super built-up area listed. If you only see one area listed, then it is the super-built up area.
What are the factors i should to consider before buying a house?
First you should decide the budget and the square foot area you want to buy. The locality of the house is a main factor. Then decide the type of house (2 or 3 BHK) you wish to buy and the type of home loan you wish to take.
which documents are to be verified before purchase of a flat?
Besides technical details pertaining to area and the amenities, one should verify the building plan approved by Municipal Corporation or such other competent authority, commencement certificate, ownership documents (title documents) etc. If it is a resale flat then verification of further documents such as Share certificate, rent receipts, Maintenance receipts etc.becomes necessary. Verification of Occupancy certificate is also imperative wherever applicable. However this is a professional job and services of a competent advocate shall be used for the same.
What are all the documents required for booking?
The simple documents which we collect for booking, you have to submit one Passport size photo, Valid ID proof & Address Proof
Can i make the changes within the property?
Yes, you can make changes within your property without any disturbance to the structure. If any changes required, must inform within 10days from the date of Booking. The alteration will cost you additional & should inform before the execution
How can i avail a loan?
Loan can be availed to a maximum 80% of the cost of the loan property or the cost of the construction as applicable. The balance 20% cost of the flat, amenities cost if any and other cost is to be funded by the flat purchaser from his own contribution. Have clear factors such as income, age, qualifications, number of dependants, spouse’s income assets, liabilities, stability, service period of occupation and savings before you approach a bank for loan.
Whta is meant by EMI?
An EMI is the monthly amount to be repaid to the bank or financial institution against a loan amount borrowed for a fixed period of time. An EMI has two components:
1. The Principal Component
2. The Interest Component
What is Pre-EMI interest?
Pre-EMI interest is the interest paid on the portion of the loan disbursed, before final disbursement. This pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of the EMI.
Will jhanvi Hosing & infrastructure help avail a home loan?
Yes, we will help you avail a home loan by referring you to a Housing Finance Institution of your choice if you request assistance. However, the loan ticket size, eligibility and repayment terms are at the sole discretion of the Housing Finance Institution.
