Yes, you can invest if you are an NRI. In such cases, under the KYC (Know Your Client) norm, you are required to furnish photocopies of your Passport, PIO/ OCI Card, PAN Card, Passport sized photographs, Bank statement held in India, etc. However, a Foreign National whether residing within or outside India cannot purchase an immovable asset/ property in India and if residing within India, can obtain a property on lease not exceeding five years.
You are not required to visit Dholera, at the time of purchasing the N.A. Plot. However, it is mandatory to visit Dholera for Registration of Sale (if you sell your property) of your property that you purchased from Omkar Lifestyles. If you wish to visit the property at Dholera casually, our representative will welcome you at the site office in Dholera. In case of NRIs, money incurred by sale of any property held in India, shall be credited to the NRO account only.
There will be no time lag for you to receive the allotment letter. As soon as you make initial token payment and furnish necessary KYC details. The Allotment Letter is issued simultaneously.
With the amount of jargon surrounding the ‘area’ concept, you may easily get confused. Let’s simplify it this way, Carpet Area is the floor space you see when you look at the property. Built Up Area is the floor space that you see and the space covered by the walls of the property. The Built Up area is more than the carpet area. Super Built Up Area includes the built up area, the common usable spaces like stair cases, gardens, common plots, corridors or lifts, etc. The Super Built Up Area is more than the Built Up area and the range of applicable percentage of increase in the area as compared to the carpet area may vary accordingly.
Preferred Location Charges (PLC) is the price you would pay for the advantages over other properties in terms of location e.g. better connectivity, better view etc. How is it calculated? PLC varies with project type, location of the city and climatic conditions etc. PLC is usually charged per sq. ft. of the super built up area of your apartment. For example a plot which has an adjoining lawn or garden has a higher PLC than a plot which doesn’t have such an advantage.
Choosing Property: Do a thorough research on the property you want to buy. This includes the background check of the builder/ developer, comparing property rates, and property consultation, if needed get your lawyers’ opinion in the encumbrance certificate and the title deed from the builder. It will also be advisable to take a technical check in terms of water supply and sewage disposal, safety etc. Ask enough questions and satisfy even the smallest worry you may have.
Costing: Your total cost to purchase the desired property includes the sum of the cost of components like car parking costs, PLC, etc. Your budget needs to consider additional miscellaneous and stamp duty and registration fees as stipulated by the Government Authority from time to time. All other costs (Property tax, VAT, Prevalent Govt. taxes, Maintenance charges, etc.) pertaining to the land after the transfer will be borne by the buyer on an as needed basis.