Develop With Ossia
You Dream It. We Build It

The stamp duty registration and statutory payments on the area are borne and paid for by the developer. Any unsettled payment of the existing members shall be borne by themselves. If a housing society member aquires/buy’s additional area, all remittance such as Stamp Duty, Registration, GST etc. will have to be borne and paid by them

Any building which has not utilized the full potential of the plot of the prevailing DC regulations can opt for redevelopment. This is subject to the housing society and the owner having a clear Title.

• The society gets, Better standard of living and Latest amenities for the members.
• Better level of infrastructure and services like, New better construction and elevation Grand Entrance Lobby and Lifts of reputed make Better Productive Plan for the New Flats More open spaces along with recreational facilities Separate Society Office / separate Toilets available for servants Provision for Seismic design for the building with Fire fighting systems, Health Club and Gymnasium with Ample Car Parking.
• The other advantages being Generation of corpus for society, Increase in flat value ­ More saleable value of the flat for the same carpet area as of the existing building since the structure is new with provision of modern amenities and improved life style.
• Due Redevelopment Government gets additional new taxes.

As per Real Estate (Regulation and Development) Act, 2016, “Carpet Area” means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under service shafts, exclusive balcony or veranda area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment.

• The Registration Act, 1908, the Transfer of Property Act, 1882 and the Real Estate (Regulation and Development) Act, 2016 mandates the registration of an agreement for sale of an immovable property.
• By registering the agreement for sale of an immovable property, it becomes a permanent public record. Further, a person is considered as the legal owner of an immovable property only after he gets such property registered in his name.

Home loan eligibility depends upon

• Stability of income
• Profession or nature of business
• Age of the loan seeker
• Credit score
• Attributes of the property
• Your relation with the bank &
• Company you work in.

Usually, all banks provide home loans up to 60 times of your monthly net income.

A Sale Deed is a document prepared on the basis of previous ownership document for the transfer of property from seller to buyer, providing the buyer the absolute and undisputed ownership of property.

• Many Builders have failed to transfer the buildings to the society or condominium formed by them despite it being mandatory for them to do so.
•  In Maharashtra, the Maharashtra Ownership Flats Act, 1963 permits a Society, Company or Association of members to apply unilaterally for a conveyance if the Builder fails to do so to the competent authority. The Sub Registrar will thereafter, register the Conveyance after giving an opportunity to the builder to show cause as to why the conveyance should not be registered. 
• The Conveyance grants title to the Society. Many a time, Societies have found the lack of a conveyance to be a serious impediment when they set out to redevelop or reconstruct the building(s).

Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of properties up to two houses by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin whether resident in India or not, subject to compliance with applicable tax laws.

• The word conveyance means the transfer of ownership or interest in real property from one person to another by a document, such as a deed, lease, or mortgage. In India, transfer of property or rights in immovable property is governed by the Transfer of Property Act, 1882. 
• For the transfer of any immovable property or rights in immovable property, it is necessary to execute a conveyance deed.

• A title deed is a document that proves the right of a person to an immovable property.
•  A person can acquire an immovable property by various means and a properly stamped and executed document evidencing the transaction is a title document. 
• For example a sale deed, a release deed, a relinquishment deed, a gift deed, a family settlement deed, a partition deed, a will – all are evidence of how a person has acquired an immovable property and may be called title deeds.

Property card is the revenue record issued by city survey officer of respective zones which gives details of ownership of plot/ flats owned by persons which are registered with the office of Sub Registrar of Assurances.

Any transfer of immovable property is valid under law only if the same is registered with the office of Sub Registrar of Assurances after paying adequate stamp duty and registration charges. The title in the immovable property is passed on to the purchaser only after registration of the same. In case a document in respect of immovable property is executed but not registered, there is no validity for such transfer and the ownership of the property remains with the seller only. On registration of the document, the entry of such a transaction is reflected in the revenue records and anyone can find out that if the property is previously encumbered. Any document which compulsorily required to be registered and is not registered; the same is not admissible in evidence.

An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non- resident Indian citizens (NRIs).

Most lenders would consider any property bought during the last 3 -6 months as a regular home loan application. You would be eligible for the same rates and income tax benefits as any other home loan. However, if you delay and the property purchase becomes more than 6 months old it will be treated as Loan against Property.

The Reserve Bank of India (RBI) has granted general permission to NRIs, PIOs and foreign citizens to invest in real estate for their residential purpose.

The general permission covers only residential and commercial property.