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Home Buyer Guide

First-Time Home Buyer's Roadmap: KEY Series (Knowledge Empowers You!)

From confusion to clarity, KEY : "Knowledge Empowers You!"" to make informed decisions; a customer awareness program is based on the culmination of our wisdom born out of facts and subject-matter expertise that we have gained through 400+ sale transactions over the last 8 years. KEY aims to equip you with all the information so that you are aware of exploitations, quality, price, etc. Buying a home for the first time? These are the questions that may be swirling in your mind:

What is the size of the home I require?
How do I plan my housing budget?
Where should I buy my home?
What should I look for in a suitable abode?

Read the document above to find all the answers to your dilemmas! We are here to help you demystify the entire buying process and make the journey to your first home a smooth ride. Assuring you the best of our services, All we need is your Autograph!

Home Seller Guide

As a part of our KEY series, we have shared our wisdom based on facts and subject matter expertise gained through over 8+ years of experience.

Click on the link below to identify the salient factors involved in selling the property at the best possible price and within a reasonable time frame:

Key takeaways from the guide:

Creating the right pricing strategy is crucial to the success of the sale
Understanding the factors which affect the selling price
Sales comparison approach in determining a fair price for the property

Agarwal Estates has invested generously in process and service delivery, having checklists for all major stages in the transaction. With our efficient system and streamlined processes, once the price is negotiated, we close the deal in 1 months’ time in comparison to the market trend of 3 months. Happy to help! All we need is your autograph!

Fractional Investments in Commercial Real Estate

In India, Commercial Real Estate, a multi-billion-dollar industry and growing has historically been for the big players (HNIs or Ultra HNIs) in the market. Each asset is valued at 10s of crores of rupees and reaps yield that is 4x times Residential Real Estate with capital Y-o-Y appreciation. This makes it accessible to only a few very wealthy individuals who have the right network, limiting the access to most of us, until a few years ago.

Today, you can grab the Fractional Commercial Real Estate Investment Opportunity! This revolutionary concept brought into India by the West, has opened avenues and opportunities for several unaffluent individuals, all at once. Key takeaways:

Minimum 25Lacs Investment
8%+ Rental Yield
12-16% Targetted IRR over 5 years
Longer Lease
Marquee Tenants

Should you have any additional requirements, please feel free to discuss with us. All we need is your Autograph!

Sales Process Flow

KEY: “Knowledge Empowers You!” to make informed decisions. As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012.

This guide describes the process of Sale/Purchase of property that helps you gain a better understanding of the multiple phases of Real Estate Transaction. Some of the topics covered are mentioned below :

Negotiation on crucial subject matters like closing price, timeframe for closure, payment schedule, and penalty (as applicable).
Stages and Technicalities in the Home Loan Process.
The phases and timelines leading up to Registration of property.
Flowchart for the Process Step-by-Step Guide.

Should you have any additional requirements, please feel free to discuss with us. Happy to Help!

Comprehensive guide on NRI taxation for NRI home sellers

KEY: “Knowledge Empowers You!” to make informed decisions. For a NRI, the capital gains on sale of immovable property would be taxable in India. It’s critical that Non Resident Indians (NRIs) understand the complexities involved in this process. It becomes challenging for all the NRIs to sell a property in India as the buyer of such properties is required to withhold TDS as per provisions of Section 195 of the Income Tax Act, 1961.

For Long term capital Assets, TDS is deducted @ 20% plus applicable surcharge and cess and in case of Short term the TDS rate is around 30% plus applicable surcharge and cess. NRIs can either claim a refund of excess TDS deducted while filing the tax returns in next financial year or make an online application in Form 13 to issue a Lower TDS certificate (a walk-through of this Lower TDS process has been shared as another resource). This document on NRI taxation is a good read to acquire a basic understanding of NRI TDS process. Happy to Help!

Tax implications and exemptions for NRI home sellers

KEY: “Knowledge Empowers You!” to make informed decisions. It's critical that Non Resident Indians (NRIs) understand the complexities of NRI taxation since the process is complex and lengthy. They are required to pay appropriate taxes as and when they fall under the jurisdiction of Income Tax Act,1971.

NRIs may check the exemptions available which may help him optimize the tax outflow on the capital gain income. The details of what the taxes for an NRI are and how they should be dealt with fall under the category of NRI taxation. Since the rate of tax a NRI has to pay is very high at 22.88%,in such situations, first paying TDS @ 22.88% and then claiming the refund after filing an IT Return, which may take months if not years, is definitely not a wise step. Instead, NRI sellers can apply for a Lower or NIL TDS Deduction Certificate by applying form 13 online from Income tax department. This document on taxation and exemptions for NRIs is very insightful and comprehensive. Happy to Help!

Lower TDS Certificate for NRI Home Sellers

KEY: “Knowledge Empowers You!” to make informed decisions. It’s mostly observed that the actual tax liability of a NRI seller on sale of a property is much less than its TDS deducted on the said transactions. To eliminate this unnecessary burden on NRIs, the income tax law provides for the facility to obtain a Lower Tax Deduction Certificate (LTDC). All NRIs can voluntarily apply for a Lower TDS certificate/NIL TDS certificate to obtain a revised rate at which the TDS would be deducted.

There are few standard provisions and guidelines to obtain the Lower TDS certificate. All the details about the LTDC process are broadly covered in this document which is again a very thorough guide. Happy to Help!

Key Material Specification and Agarwal Interiors as Unique Differentiator

Interior Design is a synthesis of art, business, and science that deals with technical, creative sustainable, and functional use of the home. It is one of the most essential parts of our daily lives and reflects our standard of living. KEY: “Knowledge Empowers You!” to make informed and quick decisions. As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 500 customers since 2012.

We have done our due diligence by selecting each and every product very carefully based on Brand, Quality, and Cost without compromising the Quality. We understand the value of your time, so we prioritize the timely completion of work since any delay costs a significant amount of money. Please refer to our White Paper on Interiors for deeper dive. Key Takeaways from the guide:

Market Comparison for Quality and Price
Choosing products in terms of Brand, Quality, and Cost
Knowledge of Material Specifications to ensure Transparency
Leading Brand Partners

Happy to Help!

White Paper on Interiors

KEY: “Knowledge Empowers You!” to make informed and quick decisions. This document provides basic guidance on the quality of products used for different furniture as well as Frequently Asked Questions that arise in your mind while going for Interior Services. It will also address all your concerns about Market Practice, Work Execution time Period, Quality of Products and Design Standards, emphasizing How We Differ! We ensure Transparency, a ‘Fixed and Fair’ pricing model, with timely completion and an unbiased approach.

For Instance, Agarwal Interiors uses top-grade materials that guarantee durability as well as ensure the attractiveness of the kitchen. We also narrowed down the material specification in detail to ensure TRANSPARENCY, setting a benchmark for the market! Key Highlights :

Use of high-quality material by Agarwal Interiors
Agarwal Interiors as a Unique Differentiator
Comparison between Agarwal Interiors vs. Market Practice
Reasonably Priced without sacrificing Product Quality
Work Execution TimeLine

Happy to Help!

Comprehensive guide on legal documents and common mistakes

KEY: “Knowledge Empowers You!” to make informed decisions.
Legal documents of a property play an essential role in protecting the interests of the owners and buyers of the property. It is important to do all the due diligence and ensure that the property is free from all the legal tussles and provides protection from fraudulent transactions.

As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012. We have shared a sample list of documents required for legal verification. Property document review is a very complex process and may have many legal pitfalls which one needs to overcome. Having said that, one needs to be vigilant while scrutiny happens on the documents provided. We try to educate property owners and home buyers about the common mistakes which often occur while we look forward to significant property documents. We always recommend consulting best legal experts and ensure safe investments as investing in real estate involves investing your income for life.

Assignment Agreement in Real Estate- Everything you need to know

KEY: “Knowledge Empowers You!” to make informed decisions.
We have experienced many times that a buyer has to let go of their dream home because of lack of knowledge and a little complexity that comes along with the Assignment sale. They are not confident in how to deal with it. But we recommend Assignment transactions over registered property on resale because it is a WIN-WIN situation for both the buyer and seller. We have the required expertise and knowledge about Assignment transactions, and we have a well laid out procedure to execute it.

As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012.
The attached document will help you understand how the Assignment process functions and how it is different from a conventional sale. This document on assignment sale will help you understand how this process takes shape and explains below key points:

Technicalities involved in the Assignment process
Type of document execution and complexity in the Home loan process
Timeline of various activities (from legal verification to registration)
Pros and Cons of an assignment transaction

We have shared this document purely for informational purposes. Agarwal Estates has invested heavily in the process and service delivery and has checklists for all major stages of the transaction.

Property Registration: Important facts to be aware of!

KEY: “Knowledge Empowers You!” to make informed decisions.
Property document verification and registration of Sale deed or Property is a complex process. Mistakes are likely to happen when registering a property. It is always advisable to get the errors or omissions, if found, rectified at the earliest since it will definitely create a major impact later. We have tried to document most of the errors and mistakes which tend to happen and are crucial to consider for smooth property registration.

As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012.
There are different kinds of mistakes possible. There could be an error in facts and specifications like:

Area of the property
Dimensions
Survey numbers
Name/ gender

A 'document summary report' is issued at the Registrar office for verification, which contains details of buyer, seller and Property etc. and should be thoroughly studied. The impact of these common mistakes stated above is huge and can easily be avoided if one pays attention and is watchful. Not overviewing this document might take a lot of your time later in executing fresh documents like rectification deeds etc. which may add up to extra cost.
Therefore, sincerely reading and understanding the shared document would be very beneficial for all property owners and home buyers.

Power of Attorney- Overview, right & limitations for NRI / Foreign Citizen

KEY: “Knowledge Empowers You!” to make informed decisions.
In the simplest of terms, Power of attorney (POA) or General Power of Attorney (GPA) is a document empowering a specified person to act for and in the name of the person executing it. It's quite common in the real estate sector to use a POA for all kinds of property transactions i.e. buying, selling, mortgaging, leasing etc.

As a part of our KEY series, we have shared our practical experience on POA execution, but it is only for informational purpose.
In this document, we have tried to cover all the basics and the process of executing a Power of Attorney. This document lays great emphasis on:

Walkthrough of POA process in India and the USA and the key steps involved in executing the POA
Legalization of the POA and the huge impact it holds
Accuracy and validity of the document: Either notarized or registered.
Common mistakes and suggested solutions

Always consult a legal expert for POA/GPA.

Real Estate Investment: Under-construction Versus Ready-to-move-in

KEY: “Knowledge Empowers You!” to make informed decisions.
Buying a home is everyone’s dream but it is a never-ending confusion of whether to move- in to a ready home or finalize a under construction house. We have tried to illustrate about the merits and demerits of owning an under-construction and a ready-to-move-in property.

As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012.
Key takeaways from this series of ours:

You can benefit from ready-to-move-in as you save generally 10% cost of the interior, immediate tax benefit & the carpet area is generally 8-10% more in comparison to new constructions.
For under-construction properties, one certainly enjoy the key benefits of payment flexibility in terms of lower EMI's to start with, freedom to plan interiors as per their own taste.

Our expert guidance can help you to select the best unit in the selected apartment complex. Since we can envision how a particular unit would come out to be in the near future and what returns will it offer which helps you make informed decision. By studying our KEY Series, one can easily be free from confusions and gain clarity. All we need is your Autograph! ®

Real Estate Investment: Plot Versus Apartments

KEY: “Knowledge Empowers You!” to make informed decisions.
Almost all buyer’s stumble upon this question during their home-buying journey, a plot of land or an apartment, Which is better? Since, both the property type has their own purpose and intent, we have tried to illustrate about the merits and demerits of owning an apartment or buying a plot.

As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012.
Key takeaways from this series of ours:

Investing in an apartment is typically less risky, easy to manage and offer steady returns over a period of time. You are able to make the best use of the amenities present in the society and enjoy a better social life.
With an apartment, the only customization you can do in your home is with its interiors.
Plots are considered more risky but the value of plots increase quickly with many factors like development in the surroundings, livability in the area etc.
With Plots you can craft, construct and design your home as per your current and future needs.

Our KEY series can help you gain clarity since there are both benefits and challenges involved in buying an apartment and a plot. All we need is your Autograph! ®

Why the rent is low in newly constructed societies: Essential aspects

KEY: “Knowledge Empowers You!” to make informed decisions.
As a property owner it is highly necessary to understand that as soon as a society gets ready to move-in, one should rent out the flat at the optimal rental value. The desire to wait for better rental income would always be present in the owner’s mind but it will not prove beneficial in the long run and as a consequence owner has to bear the rental loss. Furthermore, the tenants are also not very inclined to settle in new societies because of factors like safety, fewer amenities etc.

As a part of our KEY series, we believe in sharing information from our Wisdom and Subject-Matter Expertise gained while serving more than 1000 customers since 2012.
Key takeaways from the reasons behind a tenant’s reluctance to move in:

Safety and security is a major concern in new apartments.
Noise Pollution / Air pollution (dust) is generally high as minor construction work/Interior work continues even in ready to occupy blocks.
Amenities are not ready yet, and can be a challenge for the people who move in. So the fun part goes missing!
A new apartment has a lot of undiscovered issues when handed over by the builder.

This document about low rent in newer societies is a really good read and will justify and answer most of your doubts. Happy to serve! All we need is your Autograph! ®

VASTU COLORS for Home: Add Colors to Life!

It is a proven fact that vastu colors for home have a significant psychological effect on people. A home is a place where a person spends a major part of one's life.

KEY: “Knowledge Empowers You!” to make informed and quick decisions, a customer awareness program is based on the culmination of our wisdom born out of facts and subject-matter expertise that we have gained through 8+ years.
This document has the expert advise of our Vastu Consultant Mr. P Krishna Murthy, MBA (Belgium) on the following:

Which colours are best for which rooms according to Vaastu?
List of Non-Preferred Colors for Each Rooms.
Significance of colors as per Vaastu.
Profile of our Vaastu Consultant.

Choosing Home Painting Color Schemes like a Designer: Painting Color Advise and Care

Color has enormous power! It has been demonstrated in studies to influence our moods, thoughts, and even behaviours. This is also one of the most difficult decisions to make!

KEY: “Knowledge Empowers You!” to make informed and quick decisions. This document provides you with the guidance on everything related to painting your dream home and caring for it for longer lasting results.
Does these questions comes to your mind?

Tips for most effective painting results at all stages
Color maintenance tips
How to Select the Best Color for Each Room Based on Your Style and Preference.
Inspirations

Importance of BBMP Khata & related FAQs

Do you know?

What is Khata?
Who can apply for a Khata?
What are the documents required for Khata service?
How to submit the documents?
What are the details of fees that are required to be paid for Khata service?

KEY: “Knowledge Empowers You!” to help you make better and informed decisions. As a part of our KEY series, we are sharing here wisdom from our subject matter expertise and facts.

Please click on the VIEW PDF link to know.

Process for 1^st time payment of BBMP Property Tax (Online)

Here is how you can start paying your property taxes online in the comfort of your home

“Application Number” which is issued by respective BBMP Revenue Officer, with the help of which you'll be able to start paying your Property Tax (Online). In case you don't have Application number then you've to apply for the same at your respective BBMP revenue office.

KEY: “Knowledge Empowers You!” to help you make better and informed decisions. As a part of our KEY series, we are sharing here wisdom from our subject matter expertise and facts.

Feel free to download the attachment & follow the instructions.

Process for 2^nd and subsequent payment of BBMP Property Tax (Online)

How to pay property tax online every year?

Trust you would have paid the property tax for your property for the 1^st time by using “Application Number” by now (if not done so please refer to our document shared through “Process for 1^st time payment of BBMP Property Tax (Online)” in Resources section of www.AgarwalEstates.com).

This payment process will be very critical, since you can update your mobile number and modify your property detail (like usage of the property, number of parkings, area etc.) during this process.

KEY: “Knowledge Empowers You!” to help you make better and informed decisions. As a part of our KEY series, we are sharing here wisdom from our subject matter expertise and facts.

Feel free to download the attachment & follow the instructions.

BBMP Property Tax payment (Online), for payment failure

Ooops! How to deal with Payment failure screen. Does it scare you? Relax! We are here to rescue.

You have begun the process of making the payment of Property Tax (online) with the help of “Application Number”. As we understand that you would have faced an issue while making the payment online.

KEY: “Knowledge Empowers You!” to help you make better and informed decisions. As a part of our KEY series, we are sharing here wisdom from our subject matter expertise and facts.
Here's how you can retrieve and deal with such payment failure and make a reattempt. Do access the attached file.

BBMP Khata transfer by applying through Sakala system (Online)

Wish to apply for A Khata online and do everything by yourself? It's possible

If you have purchased property under BBMP limits, then you have an option to apply online for Khata transfer (in case your property seller had Khata already) or Khata approval (in case you have bought from builder or the seller of your property didn't had Khata)

KEY: “Knowledge Empowers You!” to help you make better and informed decisions. As a part of our KEY series, we are sharing here wisdom from our subject matter expertise and facts.

Feel free to download the attachment & follow the instructions.