GOT Real Estate QUESTIONS? WE’VE GOT ANSWERS!

As you buy a new home, these questions will answer all common queries about buying and owing a property in India. Use this guide to acquaint yourself with rules, laws and important information.

  • What is the difference between Built-Up Area, Super Built-Up Area, and Carpet Area?

    Carpet Area:

    This is the area of the apartment that does not include the area of the walls i.e. the area of the apartment that a carpet can cover.

    Built-Up Area:

    This is the area of the apartment that includes the area covered by the walls.

    Super Built-Up Area:

    This includes the built-up areas such as the lobby, lifts, stairs etc. This term is therefore only applicable for multi-dwelling units, such as flat complexes

  • What are the implications of entering into a lease agreement?

    Lease agreement

    There are various implications of entering into a lease agreement such as you have to pay the stamp duty, the lease agreement has to be registered etc.

  • Why is it considered necessary to register a property? What is the purpose of registration?

    Register a property

    By registering the transaction of an immovable property, it becomes permanent public record. Title or interest can be acquired only if the deed is registered.

  • I have a flat which I want to sell and buy a new flat bigger in area. What are my tax implications with regard to capital gains?

    Tax implications

    If you purchase a new flat within two years of the date of sale of the original flat and invest the entire amount of capital gained into the new flat, you will not have to pay any capital gains tax.