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Frequently Asked Questions

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How to get home loan?

There are several banks and money lending companies who will lend you a home loan at competitive rates. DOWO will be ted banks and the housing loan is being offered by them. The loan will be provided by these banks as per the eligibility of the applicant.

What is the difference between built up area, super built up area, and carpet area?

Carpet Area: The term Carpet Area’ refers to the total usable area within the four walls of an apartment or a commercial space, as the case may be. It is the actual usable area which the user gets to use. In other words, it refers to the area for which a carpet can be laid if required by the owners. Built up Area: Over and above the carpet area, BUA would include the space covered by the thickness of the inner and outer walls of the flat. Super Built up Area: This includes the built up area along with 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.

Who is liable to pay Stamp Duty-the buyer or the seller?

The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30, of Bombay Stamp Act, 1958 states the liability for payment of stamp duty.

Which are the instruments that attract the payment of Stamp Duty?

The instruments like Agreement to sell, Conveyance Deed, Exchange of property, Gift Deed, Partition Deed, Power of Attorney, settlement and Deed and Transfer of lease attract Stamp Duty on market value of the property.

What is meant by the market value of the property and is Stamp Duty payable on the market value other property or on consideration as stated in the agreement?

  Market value means the price at which a property could be bought in the open market on the date of execution of such instrument. The prices are Determined & Published by the Government. The Stamp Duty is payable on the agreement value of the property or the market value whichever is higher.
 

Will I get a good return by investing in Farmland?

  Yes, the value of the land increases day by day as per the location of the land. You will surely get a good return on your investment.

Can I get a loan from a bank to buy a farmhouse?

 No, as the land sold is for agricultural use.

What all can be constructed on the Farmland?

The construction is allowed as per the guidelines laid down by state government and local governing body which are amended time to time.

What is the minimum area of plot one can buy?

The minimum land size would be a quarter acre/ half an acre depending upon the project of your interest.