What is the difference between carpet area, built-up and super built-up area?
It is the actual used area of an apartment. Built up Area is the carpet area plus the thickness of outer walls and the balcony. Super Built Up Area is the built up area plus proportionate area of common areas such as the lobby, lifts shaft, stairs, etc. ... Means CARPET AREA is 75% of SUPER BUILT UP AREA.
How is the maintenance charge calculated?
Legally, the actual area owned by the individual is the basis for calculation of maintenance charge.
What is meant by valuation of property?
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value, for real property (usually market value). ... Sometimes an appraisal report is used to establish a sale price for a property.
What does the term 'Leasehold Property' mean?
When a piece of property is given or 'leased' to an individual (known as the 'Lessee') for a stipulated period of time, by the owner of the property (known as the 'Lessor'), the property is referred to as Leasehold Property. A certain amount is fixed by the Lessor to be paid as lease premium and annual lease. The land ownership rights remain with the Lessor. Transfer of property requires prior permission.
What does the term 'Freehold Property' mean?
When ownership rights for a piece of property are given to the purchaser for a price that property is referred to as Freehold Property. Unlike in the case of leasehold property, no annual lease charges need to be paid and the freehold property can be registered and / or transferred in part(s).
Why do Co-operative Housing Societies collect a Sinking Fund?
Co-operative Housing Societies have a statutory obligation to collect a Sinking Fund. This is done so that in case the building needs to be repaired or reconstructed in the future, the society has sufficient funds to carry out the work. The amount to be contributed is decided by the General Body of the society; it should be at least 1/4 percent per annum of the cost of each apartment, excluding the cost of the land. This fund may be used after a resolution is passed at the General Body meeting with the prior permission of the Registering Authority. This could be to carry out reconstruction, repairs, structural additions or alterations to the building as the architect thinks is required and certifies.
What arefactors to keep "mind while investing" residential property for capital appreciation?
The fundamental aimsany residential property investment should be to maximise yield as well as capital gainsto reducerisk as far as possible To illustraterenovatingembellishing-property makes it eligible for-higher rent,means maximised yield Property investment aimed at capital gains involves buying real estate cheapselling it at-higher ratethereby maximising ones ROI An astute investor will also buy-well-located property at-high price ifrental market is boomingsince this makes it possible to rent it out for as long as it takes price to rise again.
What are different ways to investing commercial property?
Therethree ways to invest"commercial real estate - directly buy office space from-developerbuy sharesa commercial developer fromstock marketor invest"a real estate fund focusedcommercial real estate Asquantuminvestment is usually huge,prospective buyer needs to take more informed decisions