Earth Towne is a Graeater Noida Residential project in 1,29,600 square feet.. Below we are writing more specification about the project.
1.
What
is the exact location of Earth Towne Project?
A. The
Earth Towne Project is located on Plot No. GH-4, Noida Extension, Greater
Noida.
2. What are the project specifications of
Earth Towne – area, towers, no. of flats?
A. The
total area of Earth Towne is 18.56 acres/73942 sq. mts.
There are 29 towers in total and 2960 flats
in all.
3. How many towers have 1 BHK units and what
is the name of the towers? How many 1BHK units on each floor?
A. There
are two towers with 1 BHK units. The names of the towers are Jal and Agni. Each
floor will have 12 1BHK units.
4. What is the total area of each tower in
square feet?
A. The
total area of each tower is: 1, 29,600square feet.
5. What is the size of a floor plate in Jal
and Agni Towers?
A. The
size of a floor plate in Jal and Agni towers is 6,480square feet.
6. How can I apply for a unit in Earth Towne?
A. You
can apply for a unit by filling in the
application form and paying a booking amount of 10%.
7. Will I be given a consent letter from the
company?
A. Yes,
consent letter will be given on payment of 20% of total sales consideration.
This applies to all three payment plans.
8. When will the Allotment letter or
builder/buyer agreement be executed in different payment plans?
A. The
Allotment Letter or Builder/Buyer Agreement will be executed as follows:
1.
For D.P. Plan:
On payment of 95% of sales consideration
2.
For Flexi Plan:
On payment of 40% of sales consideration
3.
For CLP: On payment of 20% of sales
consideration
9. Can I withdraw my application? ( for both
Earth Towne and Earth Tech One)
A. If
for any reason, the applicant desires, he can take the refund of amount paid by
him within 15 days from the date of making his first payment (whether full
booking amount or the first token payment) without any deduction from the
developer.
In case the applicant withdraws or
surrenders his application for allotment at any point of time after 15 days of
receiving of first token money, then the company may cancel/terminate the
booking and the earnest money shall
be forfeited and the applicant shall be entitled to balance amount only, if
any, without interest and compensation, after the said unit is allotted to some
other applicant.
10. When will I get the ownership rights of the
unit?
A. You
will get the title only upon execution of Sub Lease Deed/Sale Deed/Conveyance
Deed in respect of the said unit.
11. What is the direction of the plot in the
Earth Towne Project?
A. The
entrance of the plot is facing North-east.
12. Is there a lock-in period for the transfer
of the said unit?
A. No,
there is no lock in period. The applicant can transfer the Said unit at any
point of time, whether before or after the completion of the building to any
person nominated by the applicant.
The applicant needs to apply to the
Developer in the prescribed format of the Developer (available at the office of
the Developer) along with the prescribed documents.
13. What happens if I am not able to pay the
installments/charges in time?
A. In
case of failure to pay the installments and other dues by the due date, interest
@ 18% will be payable by the applicant.
However, if the payment is not received
within 30 days from the due date, the allotment will be cancelled at the sole
discretion of the company and the earnest money paid to the company by the
applicant shall stand forfeited.
14. What is ‘fit-out’ period?
A. ‘Fit-Out’
period in this case will be a period of three months which will begin from the
date of offer of possession.
•
‘Fit out
period’ is intimated to the buyer to give him time to comply with the required formalities
(obtaining NOC from the Accounts Department of the company, registration of the
sub-lease deed etc.).During this period the buyer can communicate the exact
date by which he will be taking the physical possession of his own unit.
•
The
installation of sanitary-ware, wash-basin, kitchen sink, and final touch of
paint will be done during the fit out period only and the applicant can get these
final installations done in his presence.
15. When is the expected date of possession in
Earth Towne?
A.
June 2013
16. What is the penalty clause if the
possession is delayed?
A. If there is delay in handing over possession
of the unit after the expiry of the Fit Out Period, the developer will pay the
applicant delayed possession charges @Rs10/- sq feet per month for the covered area for the delayed period
provided all due installments have been received in time.
17. Which banks are giving loans for this
project?
A. At
present, we have got the loan approval from Bank of Baroda, Corporation Bank,
LIC Housing Finance Ltd., and Dewan Housing Finance Ltd.
18. Will I get Leasing Guarantee of my unit?
A. The
company will be providing you with Leasing Assistance.
19. I am a salaried person. What documents are
required to avail loan?
A. Documentation Formalities:
Duly filled out bank application
form with 2 photographs each of both
Applicant & Co-applicant, ID Proof/Pan Card, Last 3 yrs.
ITR & Form 16, 3 Months salary slip,
Residence Proof/Voter id card as well as latest Gas or Electricity or Landline
or Postpaid Mobile connection bill, Last 6 month Bank Statement
(Original) – If internet generated then concerned Bank stamp required on the
same, Appointment Letter/increment
Letter/CTC, Processing Fee Check in
favor of concerned bank, Existing
Loan going on if any - Details (Payment Schedule/Sanction Letter), Demand letter from Builder and
Payment receipts made to builder.
All documents must be self attested by the applicant.
Co-applicant’s documents must be
attested by Co-applicant.
20. Will I get loan for the entire amount or
do I need to pay any cash upfront?
A.
Home loan lenders never finance the total
cost of property. You will need to put in a down payment
of up to 30% to 40% of the value of the property upfront based on your
credibility & RBI Guidelines.
21. What is the difference between fixed and
floating rate of interest?
A.
A Fixed interest rate for Home loans is one
where the interest rate charged by HFC on a loan amount is constant over the
tenure of the loan.
Floating interest rate for Home loans is one where the
interest rate which is payable is linked to the market rate e.g. bank lending
rate. The interest rate payable by the customer will rise and fall as per bank
lending rates.
22. What If I am not satisfied with the quality
of construction or workmanship in Earth Towne?
A.
The
applicant shall resolve any complaint regarding the construction or quality of
workmanship, prior to taking possession of the unit, or within three months
from the date of offer of possession, whichever is earlier, after which all
claims would be deemed to be waived by the applicant(s).
23. Will I get any guarantee/ warranty for
equipments/appliances installed in the unit?
A. The
guarantee/warranties, if any, issued by the suppliers/manufacturers, of the
equipments/appliances provided in the unit will be handed to the applicant at
the time of possession. The Developer will not be giving any guarantee/warranty
with regard to the equipment/appliances installed in the unit.
.
24. What is FSI/FAR?
A.
FSI stands for Floor Space Index & FAR
stands for Floor Area Ratio. The FAR or FSI is the ratio of the total area of
the buildings on a certain location to the size of the land of that location,
or the limit imposed on such a ratio.
25. What is the difference between Leasehold
and Freehold?
A.
Leasehold ownership fundamentally means long
tenancy – the right to own, occupy and use the place for long period of time.
This can be for anytime between 99 – 999 years. Freehold ownership means that
the owner has complete and absolute ownership of the property, and all the
buildings that stand on that land. The owner of the freehold property is
therefore in a position to do what they wish to do with the property, in
accordance with the local planning regulations.
26. What is meant by Builder Buyer Agreement?
A. Builder
Buyer Agreement is the agreement which contains the details of the
building/flat specification cost, mode of payment, time of completion etc
signed by both the parties.
27. What is super/covered/carpet area?
A. Super
area is the entire area of the building which includes carpet areas, lobbies,
corridors, walls, lifts, staircases, basements and other atrium and utility
areas. Covered area is the actual area under the roof. Carpet area is the
actual usable area which the user gets to use.
28. What is the registry of property?
A. Land
or Property Registration refers to the registration to document changes in
ownership and transactions involving immovable property. Whenever one buys a
piece of land/immovable property, one needs to register the same with the
authority concerned, so that a legal ownership title is guaranteed to the
person. This greatly reduces the risk of fraud and helps solve disputes easily,
in addition to creating & maintaining an up – to – date public record.
29. What is allotment letter and possession
letter?
A.
Allotment
Letter is the document that details & confirms the amount or number of
property allotted to an Applicant for a new issue or a rights issue. Presented
usually as a certificate, it is renounceable up to a stated date. Possession Letter is a legal document
where one is authorized to take the possession of the place allotted to you.
30. What is lease deed?
A. Lease Deed is legal document wherein the
person is authorized/bounded for a stipulated period of time to use the
property.
31. What is Capital Gain Tax?
A. As
per the Indian Income Tax laws, a Capital Gain Tax is a voluntary tax payable
on the sale of assets, investments, capital accumulation and productivity. It
is defined as any income generated by selling a capital investment.
32. How much service tax is being imposed on
real estate?
A. As
on date the Service Tax applicable on real estate is 2.5%
33. What is inventory?
A. An
Inventory is the total list of number of units available in different sizes in
the project.
34. When does a buyer get rebate on income tax?
A. A
Builder would get rebate on Income Tax only when he makes anything less than
1000 sq.ft under section 85 1B.
35. How many square feet to one acre?
A. 43,560
sq ft to one acre
36. How
many square meters to one acre?
A. 4046.9 sq meters to one acre.
37. What is IT/ITes office space?
IT stands
for Information & Technology and ITES stands for Information Technology
Enabled Services. It is a form of outsourced service which has emerged due to
involvement of IT in various fields, like Banking, Finance, Telecom, Insurance etc.
Some of the examples of ITES are medical transcription, back – office
accounting, insurance claim, credit card processing and many more.
For More Details Contact (Consult Me If you are looking for information about Property)
Bhanu Pratap (Property Consultant)
Mobile: 9716883044
Mail: bhanu16@gmail.com
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