frequently asked questions / list of questions
TRANSCRIPT
FREQUENTLY ASKED QUESTIONS / LIST OF QUESTIONS
NAME OF THE PROJECT:
AKRITI ADDRESS OF THE PROJECT:
Mouza Ichlabad,72 GT Road ,Opposite Chinnomosta Kali Mandir,Burdwan J.L No 75, LR Dag No 1804,1805,1806 Holding No- 72,72/1,Ward No -12 PS- Burdwan, (Purba Bardhhaman) Pin-713103 West Bengal
PRODUCT: TOTAL LAND AREA:
84.13 cottah
NO. OF BLOCKS –
Total - 3
NO. OF FLOORS – G+12
NO. OF FLATS –
Total – 192
NO. OF FLATS IN EACH FLOOR – 04 (1St Tower) & 06 (2nd & 3rd Towers)
FLAT SIZES –
BUA (Sq. ft.) CARPET AREA (Sq.
ft.) BALCONY
(Carpet Area) TERRACE
(Carpet Area) SBUA (Sq.
ft.) Round off
783 645 53 - 997
783 645 53 212 1,114
877 762 28 - 1,117
783 676 28 - 997
790 675 29 - 1,006
919 801 27 401 1,389
919 801 28 172 1,267
790 644 52 - 1,006
666 565 21 264 994
643 546 21 110 881
655 541 29 - 834
667 564 22 - 850
643 546 22 - 819
660 546 27 - 841
919 801 27 1,171
919 801 28 1,171
666 565 21 848
643 546 21 819
NO. OF FLATS IN EACH BLOCK –
Block 1 - 48 units Block 2 - 72 units Block 3 - 72 units
TOTAL NO. OF CAR PARKING AND TWO WHEELER PARKING IN THE PROJECT: Total Car Parks – 171 Covered – 41 MLCP – 64 Open – 66
Amenities:
Landscaped Garden
Kid's play area
Gymnasium
Swimming Pool
AC Community Hall
Indoor Games Room
24 Hours Water Supply
24 X7 CCTV Surveillance at Campus Entry and Exit, Ground floor Tower Lobbies & Parking areas
Intercom facility
Fire Fighting Equipment & Protection System
Common Toilet on Ground Floor
Sewerage treatment plant
Water treatment plant
Specifications:
Structure Pile foundation and earthquake resistant RCC framed structure with AAC block work / fly ash brick work
Flooring
Bedrooms/ Living/ Dining Room – Vitrified Tiles
Kitchen & toilets - Antiskid Ceramic Tiles
Staircases –Concrete Finish
Roof – Concrete Finish
Doors & Windows
Seasoned hardwood door frame
Flush doors with cylindrical lock
Decorative Main door with night latch
Aluminum openable/sliding glazed windows
Toilets
CP Fittings and Sanitary Fittings of Essco/ Somany/ Johnson/ Simpolo or Equivalent make
Electrical points for geyser & exhaust fan
Plumbing Provision for Hot & Cold water in shower area
Wall dado of ceramic tiles up to door level
Wall Finish
Brick Work / Block work -AAC Blocks/Fly ash Brick
Inner Walls – POP/ Gypsum finish
Outer Walls – High Quality Weather proof Paint
Kitchen
Granite Counter Top with Stainless Steel Sink
Wall dado of Ceramic Tiles up to two feet height above counter top
Electrical points for refrigerator, water filter, microwave & Exhaust fan.
Electrical
Infrastructure provision** for one Air Conditioner in each Bed Room and Living/ Dining inside the Flat. **Infrastructure Provision for Air Conditioning includes -
Electrical conduit at designated locations for the indoor units (no Electrical wire, no
starter, no Plug point)
Drainage points for Indoor Units
AC Ledge (made of MS) for placing Out Door Units at designated locations.
It does not include electrical wires, Copper piping, Starter or Plug Points or the supply of air
conditioners and/or other accessories in any way.
Detailed drawings & guidelines shall be issued which shall have to be followed and complied with during installation of air conditioners.
TV Power points in Master bedroom & living /dining
Adequate electrical points in all bedrooms, living /dining rooms, kitchen and toilets.
Washing machine point
Modular switches of reputed make
DG Back Up (at extra cost)
1 KVA for 2 BHK
1.25 KVA for 2BHK & Study and 3BHK
Elevators Automatic Lifts for each Block of Kone/ Johnson or Equivalent make.
Connectivity:
Nearest City /Small Towns Minutes KMS
Durgapur 71 74
Katwa 104 59
Kalna 92 62
Memari 39 26
Transport
Purvasha (Alisha) Bus Terminus 6 1.9
Burdwan Railway Station 12 3
Airport
Andal - Kazi Nazrul Islam Airport 91 90
Educational Institutions
Ichlabad High School 5 1
St. Xavier’s 6 1.9
St. Paul’s Academy 15 5.4
Vivekanada Academy 4 1.5
Burdwan University 22 5.8
Burdwan Raj College 15 3.4
Burdwan Town School 8 2
Burdwan Municipal Boys School 7 1.9
Burdwan Municipal Girls School 9 2.1
Hospitals
Burdwan Medical College & Hospital 15 3.4
Super Speciality Hospitals
Kisholay Child Care Hospital 2 750 mt
Saranya Super Specialty 8 3.7
Anamoy Super Specialty 8 3.3
CAMRI Super Specialty 8 3.9
Bazaar Area
Police line Bazaar 2
700 mt
Curjon Gate Bazaar Area 9 2.1
Jail Khana Bazaar 12 3
Raniganj Bazaar 10 2.2
Nilpur Bazaar 4 1
Entertainment
Inox (Burdwan Arcade) 12 3
Shopping Malls
Vmart Mall 5 1.2
Reliance Trendz 9 2.2
M Bazaar 7 1.7
Big Bazaar 12 3
Banking
South Indian Bank 1 210 mt
Central Bank 2 550 mt
SBI-Parbirhata 3 900 mt
Corporation Bank 3 1
YES Bank 6 1.5
HDFC Bank 7 1.7
PNB Bank 2 650 mt
Hotels/Lodge
Mrigaya Hotel 7 1.8
Kalyani Hotel 9 2.1
Panthashala-Municipality Guest House 13 3
Safety
Burdwan Police Line post 2 700 mt
Burdwan Police Station 10 2.3
Fire Station 21 4.8
Developer/ Promoter / Consultants Related:
WHO ARE THE OWNER/S OF THE PLOT?
Primarc Burdwan Projects LLP
WHO IS THE PROMOTER / DEVELOPER? PRIMARC PROJECTS PVT LTD WHAT ARE THEIR PAST PROJECTS?
Primarc Group have a done lot of projects in and around Kolkata. You can get details of all their projects in their respective website:
Primarc Group – www.primarc.in WHAT IS THE OFFICE ADDRESS OF THE PROMOTER?
The registered office address for the LLP formed is 6A, Elgin Road, 2nd floor Kolkata – 700020
WHO IS THE ARCHITECT?
Company Name Address Past Projects Raj Agarwal& Associates
8B, Royd Street Road, Kolkata 700002 Ph- 033-22653339
Astitva, IQ City etc . Rich
Basket of Popular Projects in &
around Kolkata
WHO IS THE STRUCTURAL DESIGNER?
Company Name Address
Engineers Forum 188/48, P.A.SHAH ROAD,KOLKATA -45 PHONE-033-24224335/2422-7520/9874561607
WHO IS THE SOLICITOR?
COMMERCIALS: PAYMENT PLAN: To add Unit Price shall mean cost for the following calculated per Sqft on Carpet area:- Unit Cost of exclusive balcony or verandah areas Cost of exclusive terrace areas MLCP/Covered/Open Parking/ Two Wheeler Proportionate cost of Common Areas with external wall thickness etc.
Sl No.
Stages of Payment % of Payment
1 Application amount
10% of unit cost +GST (Rs 2 lakhs + GST to be submitted at the time of filling of application form as initial booking amount. Balance within 15 days from the date application.)
2 On Agreement - within 30 days of Application 10% of unit cost + GST
3 On Completion of Piling 10% of unit cost +GST
Company Name Address
Argus Partners
1st Floor, 238B, A.J.C. Bose Road, Kolkata 700020
T: + 91 33 4065 0155 ● F: + 91 33 4065 0157 ● M: + 91 98 3055 8200
Offices: Mumbai I Delhi I Kolkata I Bangalore I Chennai
4 On Completion of Ground Floor Roof Casting 10% of unit cost + Club Charges + GST
5 On Completion of 2nd Floor Roof Casting 10% of unit cost + GST
6 On Completion of 5th Floor Roof Casting 10% of unit cost + GST
7 On Completion of 8th Floor Roof Casting 10 % of unit cost + Transformer Charges & Electricity + Generator Charges+ GST
8 On Completion of 10th Floor Roof Casting 5 % of unit cost + GST
9 On Completion of 12th Roof Casting 5% of unit cost + Legal Charges+ Association Formation Charges+ GST
10 On Completion of Flooring of Unit 10% of unit cost + GST
11 On Notice for Possession 10 % of unit cost + Sinking fund + Advance CAM + GST
Pricing:
• CAR PARKING Covered -Independent : Rs 4,50,000 Lacs
Covered -Dependent : Rs 4,00,000 Lacs
Open Independent : Rs 3,50,000 Lacs
Open Dependent :Rs3,00,000Lacs&MLCP-Rs 2,50,000
Two Wheeler -(Open)
: Rs 35,000
•
CLUB CHARGES Rs 25,000/Flat
• GENERATOR Rs 20000 per KVA @ 1 KVA for 2 BHK
Rs. 25000 @ 1.25 KVA for 2BHK & study & 3 BHK ( @ 20000 per KVA )
• LEGAL CHARGES Rs. 15000 /Flat (Excluding Stamp duty, registration charges & commissioning charges)
• TRANSFORMER & ELECTRICITY CHARGES
Rs 75/- per sq. Ft on Carpet area (Any extra cost incurred by the developer at
the time of execution shall be charged proportionately on actual basis)
• DEPOSIT Advance Maintenance Deposit Rs. 55 per square feet on carpet area being advance maintenance paid for 12 months .
Sinking Fund Rs. 55/- per sq. Ft on Carpet area
Taxes GST & other taxes, as applicable as per Govt. norms
What is the name in which the Cheque is to be issued at the time of application?
PRIMARC PROJECTS PVT LTD
Finance Related Queries:
Any discounts on offer in price: – No. Primarc follows a strict no discount policy to give price parity to all its buyers. Registration charges: –
As per the prevailing rates it’s as follows:
6% stamp duty 1% registration charges Compensation Clause for Delay Our project will be RERA/HIRA compliant and hence we will follow the rules laid down as per RERA/HIRA.
Are there any nomination charges, if yes what?
2% of the Purchase price or Nomination Price whichever is higher Is there any resale lock-in-period, if yes what? 1 years from the date of Booking Cancellation details – Before Agreement– As per HIRA guidelines After Agreement– 10% of the unit cost +Applicable Tax
GENERAL QUERIES:
WHAT IS THE STARTING TIME OF PROJECT? September, 2018 WHAT IS THE COMPLETION?
The project will be completed by September, 2022
Is the car parking optional or compulsory? Optional
Total No. of Lifts in each Block?
2 nos. of automatic lifts of reputed make for each block in each tower with capacity of 10 and 14
persons respectively.
No. of Servant’s quarters if any and its charges? –
No provision for servant’s quarter
Shopping arcade details if any –No Such
There is no commercial space in the project.
Is the roof terrace common to all? – Common roof
Are there any flats with open terraces?
Yes. Total 6 Flats with Open Terraces.
Block 01 -1St Floor B Type
Block 02- 1St Floor A, D, E Type
Block 03- 1St Floor A & B Type
What about grills
Grills are not provided for. However, after possession of the unit buyers can install grills. The same to be done keeping in line with the designs provided by the promoter. AC provisions – We will provide AC points in all bedrooms, living & dining. ( AC infrastructure has been detailed in the specifications, kindly refer to the same.
Geyser provisions – We will provide geyser points in all bathrooms
Exhaust provisions – we will provide exhaust points in all bathrooms
Chimney provisions- We will provide the provision to install chimney in the kitchen.
Bathtub provision in toilets – No
Thickness of outer wall – 200mm thick Block work
Thickness of inner wall – 125mm thick Block work Height of the floors – 2.89 Meters / 9.5 foot (Clear height from floor to ceiling)
Any provision of lofts – No
Source of water – Bore well source Rainwater Harvesting: Not Available
Water filtration plant – No Provision for modifications – No
Extra Electrical points and extra fittings – No
Electrical Power Distribution – WBSEDCL Provision for generator – Yes, at extra cost
Firefighting arrangement – Yes
Are the buildings Earthquake resistant or not – Yes
Garbage disposal System – The waste generated will be collected from individual dwelling units & will be segregated at the source. The Non-Biodegradable waste shall be will be sent for recycling / disposal. The Biodegradable Waste shall be disposed through composting technology within the premises
Does the project have Pollution Clearance – Not Applicable Can the client interchange units / flats from one Block to another – No
Can flats be interchanged from one project to another - No
Can any alterations / changes be made inside the unit- No
SBP % : 23%
Ground Coverage: 28% Open Space: 72%
Width of the road in front of the Project - 22.860mtr
Gap between 2 towers: 13 Mtr . Area of Block community hall & Banquet Hall: 1506 Sqft/140 Sqmt Area of swimming pool: 980 Sqft/91 Sqmt
BANKS & LEGAL Project approval by which banks – Approved by SBI/ LICHFL/ Axis/ India Bulls/ ICICI/ HDFC
How to go about housing loans – We have relations with banks to facilitate home loans for our customers. We will help our customer to liaison with banks and depending upon the client’s eligibility the banks will facilitate the loan. In the event a client wants to borrow from an institution, which is not in the approved list it will be the responsibility of the buyer to get the project, approved and ensure the payments are made on time as per the schedule in the agreement. The company will provide the legal set and plans to the buyer upon request. How much loan will a buyer get – Depending on the eligibility up to 80% of the total cost for the unit. Documents required –
All documents related to the income/KYC of the person as may be required by bank. Loan on ext. charges / Reg. Charges – Yes. But terms & condition varies from bank to bank. Tenure of loan – The tenure of loan varies from 5-30 years depending upon the age and as required by the customer. In some cases the bank also decide the tenure for which the loan can be provided to the client depending upon various criteria. EMI’s for each tenure of Loan: As on 10.06.2018: Approx. Rs 868/- per lac for 20 years’ tenure Approx. Rs.769/- per lac for 30 years’ tenure. Penalty clause for delayed payment – (from buyer)
SBI PRIME LENDING rates +2%. We will follow the rules and regulation as will be laid down by RERA (HIRA) from time to time. Legal charges for what – Legal charges are taken to process all the documentation for clients from the application till registration of the particular unit. Registration & Mutation who is going to do it – We will take care for the formalities to be done for registration at a cost. We don’t take care of the mutation but we will try and assist our clients by providing information for vendors to get the mutation done.
QUERIES FOR NRI CLIENTS
1. Who is an N R I?
Under the Foreign Exchange Management Act, 1999, Non-resident Indians are:
1. Indian citizens who stay abroad for employment or carrying on business or vocation outside India or for any other purpose in circumstances indicating an uncertain period of stay abroad; OR,
2. Government servants who are posted abroad on duty with the Indian Mission and similar other agencies set up abroad by the Government of India where the officials draw their salaries out of Government resources; OR,
3. Government servants deputed abroad on assignments with foreign government or regional/ international agencies like the World Health Organization (WHO), Economic and Social Commission for Asia and the Pacific (ESCAP); OR, 4. Official of the State Government and Public Sector Undertakings deputed abroad on temporary assignments or posted to their branches or offices abroad.
2. What kind of Bank Accounts can be Operated by N R I's?
a. Non-Resident (Ordinary) Account i) Who can open and how? An existing bank account of an Indian national going abroad and becoming a non-resident Indian is automatically designated as non-resident (ordinary) account (NRO). An NRI can also open such ordinary accounts even by making remittances from abroad or by transfer from an existing non-resident account in India in his own name. Such accounts can be opened by overseas corporate bodies (OCBs). NRO accounts can be opened while an NRI is on a visit to India or simply by making remittances from abroad. NRO account can be in the sole name of an NRI or in joint names of more than one NRI or in joint names with any of the close relatives in India. In other types of joint accounts, prior permission of Reserve Bank of India (RBI) is required. ii) What types of account can be opened?
NRO account can be opened in the categories of current, savings, and recurring and term deposit accounts.
iii) What type of transactions are permitted?
All types of transactions of deposits and withdrawals to and from NRO account are normally permitted. However, the RBI has prescribed certain transactions requires to be reported to RBI in prescribed forms.
iv) Can the funds be repatriated?
The funds can be freely withdrawn for the local disbursements without RBI approval. Interest is now repatriable.
v) Is interest earned exempt from tax?
Interest on NRE account is not exempt from Income tax and balances to the credit of NRE account are not exempt from wealth tax.
B) Non-resident external account (NRE)
i) Who can open and how?
NRI as well as OCBs are permitted to open NRE accounts. NRE accounts can be opened by depositing foreign currency along with the account opening application form. The account opening form may be signed by NRI abroad and the signature of NRIs may be verified by a bank abroad or by Indian Embassy or by notary public official abroad. NRE account can be opened during the visit to India by tendering foreign currency traveller’s cheques or foreign currency notes.
ii) What types of account can be opened?
All types of account that is current, savings, recurring and term deposit can be opened under NRE accounts scheme. NRE accounts can be opened in single or joint name. However, in case or account opened in joint name, all the joint holders should be resident of external group of countries.
iii) Can funds be repatriated?
As per the Liberalized Exchange Rate Management System (LERMS) all the remittances of foreign exchange to NRE accounts are converted into Indian rupee at the market rate of exchange and credits are given in terms of Indian rupees. Similarly, at the time of repatriation, the amount to be repatriated is converted into the designated foreign currency at the prevailing market rate of exchange. NRE Account offers all the facilities of the NRO account plus complete repatriation without informing the reserve bank.
iv) Is interest earned exempt from tax?
Interest on NRE account is exempt from Income tax and balances to the credit of NRE account are exempt from wealth tax.
C) Foreign Currency Non Resident Account (FCNR)
i) Who can open and how?
All non-resident Indians, resident in external group of countries and OCBs are eligible to open FCNR accounts. FCNR accounts are permitted only in four currencies:
Pound Sterling (GBP)
US Dollar (USD)
Euro
Japanese Yen (JPY)
The rate of interest on the above account vary for each type of designated currency.
ii) What types of account can be opened?
FCNR account is permitted in the form of fixed deposits for a maximum period of three years. Current and savings accounts are not available under this scheme.
iii) Is interest earned exempt from tax?
Interest earned on FCNR account is exempt from income tax and the balance in the account is exempted from wealth tax.
iv) What are the options available to depositor at maturity?
There are three options available to a depositor at maturity of FCNR account:
To ask for the repayment in designated foreign currency.
To ask for the repayment in Indian rupees or in any foreign currency other than designated foreign currency.
To ask for the conversion of FCNR account into NRE fixed deposit.
v) How does it differ from NRE account?
The FCNR accounts, primarily differ from NRE account on the point of fact that the balance in FCNR account is denominated in designated foreign currency in which the account is opened and thus unlike NRE accounts, there is no loss either on account of difference between buying and selling rates or on account of fluctuation in exchange rates. The deposits in FCNR accounts can be withdrawn prior to maturity date.
3. What is the position regarding acquisition of immovable property by NRI?
Consequent to the liberalization in exchange control policy and procedures, certain relaxations in the existing regulations and procedures governing the acquisition, holdings, etc. of immovable property in India have been announced. The current position in therefore as under:
1. Non-resident Indians holding Indian passport do not require any permission from RBI for acquiring immovable property for bonafide residential purposes.
2. Non-resident Indians holding Indian passport may pay the purchase consideration either by remittance of funds from abroad through normal banking channels or out of NRO account or NRE account or FCNR account.
3. RBI has given general permission to non-resident Indians holding foreign passport (i.e. foreign citizens of Indian origin) to acquire, hold, transfer or dispose off by way of sale or inheritance immovable properties situated in India provided: a. The property is for the purchaser's bonafide residential purpose. b. The purchase consideration is met either by remittance of funds from abroad through normal banking channels or out of NRE account or FCNR
4. Foreign citizens of Indian origin are required to declare the properties to RBI within a period of 90 days from the date of purchase in form IPI 7. The following documents must be submitted along with the declaration. a. A certified copy of the purchase deed or a certificate from the Cooperative Housing Society or an Association of the apartment owners as an evidence of transfer / registration of the property in the declarant's name. b. Certificate from the declarant's bankers in India evidencing receipt of inward remittance(s) in foreign exchange through normal banking channel or withdrawal of funds from declarant's NRE account or FCNR account or FCNR Special Deposit Account and payment of consideration for the property out of those funds.
5. Where a foreign citizen of Indian origin wishes to acquire a property out of funds held in NRO account then the permission from RBI will be required which can be applied for in form IPI 1.
6. Where a foreign citizen of Indian origin wishes to acquire a property from the sale proceeds of another property, prior permission of RBI is essential and may be obtained by applying in form IPI 1.
7. Any number of properties can be acquired by non-resident Indians regardless of whether they are holding Indian passport provided they are required for bonafide residential purposes.
8. A person resident outside India who has established in India a branch or place of business (but not a mere liaison office) in accordance with RBI regulations, can acquire any immovable property in India, which is necessary for incidental to carrying on such activity.
4. Can NRI avail loans for purchase of immovable property?
The loan amount shall not exceed 85% of the cost of the dwelling unit. 5. For what purposes are loans available to NRIs?
NRIs can avail loan for buying or constructing a new home, extending or improving an existing home or even for buying a plot. 6. What is meant by "Own Contribution"? How this "Own Contribution to be paid"?
Own contribution is the cost of the dwelling unit financed less the loan amount. The own contribution should be met from direct remittances from abroad through normal banking channels or from the Non-resident (External) account / Non-resident (ordinary) or the Non-resident special rupee account in India. 7. What are the common documents to be submitted along with the application?
The following documents are required along with the application form:
Photocopy of the labour contract duly countersigned by your employer (translated to English for Non English documents)
Latest salary certificate (in English) specifying the following: o Name (as it appears in the passport) o Date of Joining o Passport Number o Designation o Prerequisites and salary o Photocopy of labour card / identity card o Photocopy of valid resident visa stamped on the passport o Photocopy of monthly statement of local bank account o Property related documents
8. What security will NRIs have to provide?
Typically, the security for the loan is first mortgage of the property to be financed, normally, normally by way of deposit of title deeds and / or such other collateral security as may be necessary. In addition, interim security may be required, if the property is under construction. Collateral or interim security could be in the form of assignment of life insurance policies, surrender value of which is at least equal to the loan amount, pledge of shades and such other investments. 9. Can NRIs give a Power of Attorney in favor of a person of my choice in India to complete loan formalities on my behalf? Yes, normally it is desirable to appoint a Power of Attorney in India to represent his in dealings in India. The Power of Attorney should be executed as per drafts provided by the housing finance company. The Power of Attorney can be given to any person of his choice in India. 10. Can the house occupied by NRI be let out?
The RBI has granted general permission to NRI's and foreign citizens of Indian origin, to let out their residential properties acquired for their bonafied residential purpose but which on account of their residence abroad, are not required for their immediate residential purpose. The rental income cannot be repatriated. Thus rental income must be credited to the NRO account / resident accounts in India. 11. What is the position of income from house property on such property?
The owner of the property is liable to pay tax on income from house property. The term "owner" also include deemed owner. One house property self-occupied by the owner for residential purpose, then there will be no income from house property. If the building or part thereof is used by the owner himself for the purpose of his own business or profession, then there will be no income from house property in respect of such building provided the profit of such business or profession is chargeable to income tax
separately. Whenever a person who owns a house property in one city is transferred to another city, it has been specifically provided that the annual value of such a property would be taken to be nil subject to the fulfilment of following conditions:
The assessee must own only one house property which is meant for his own residence. He cannot occupy that house property because of his employment, business, profession, etc
away from the place. The property is not actually let out or any benefit is derived therefrom. No other deduction will be available to the assesse.
12. What is the position of capital gains on sale of residential house property?
Capital gains arising on transfer of a residential house, comprising buildings or land appurtenant thereto, is exempt if the amount of capital gains is utilized in acquiring another residential house, either by purchase or by construction. The conditions required to be fulfilled to claim exception are:
The capital asset being transferred is a residential house property the income of which is chargeable under the head "Income from house property"
The house property is a long term asset i.e. held by the owner for more than 3 years. The house property has been transferred by individual or HUF. The tax prayer purchases or constructs a new residential house within the specified time.