FLAVOUR OF THE MONTHfor constructing and land
related costs. Builders
cannot ask for more than
10% as an advance payment
until the sale agreement is
signed.
· Like every investment the
documentation has to be
transparent and if there are
changes in the plan buyers
have to be informed about it.
· Developers have to sell the
property on the carpet area
and not super build up area.
· During a delay in the project,
the investors could get back
their money or choose to
stay invested with monthly
returns.
· During a delay in the project,
the investors are entitled to
get 2% and above of the
marginal cost of lending rate.
· I t i s t h e b u i l d e r ' s
responsibility for any defect
in the property for a period of
5 years. In this duration of 5
years after purchase, if the
buyer faces issues with the
quality of the property the
builder needs to rectify the
issue within 30/ 120 days
from the time of complaint.
· Without registering through
RERA act, the builder or the
consent team cannot give
recommendation or
promote its project.
· Failure in registering the
project leads to paying 10%
of the project cost and
imprisonment up to 3 years.
ICICI Home Search:
ICICI Property Service Group
(PSG) is a part of ICICI Home
Finance Company (HFC) Ltd.
They offer all kinds of Real
Estate solutions under one
roof, be it lease/ purchase or
sale. The process of buying or
leasing homes is more
transparent, reliable and
convenient by providing a one-
stop shop for all kinds of client
requirements. One can also
sell or lease his / her own
property through ICICI Home
Search.
The property market in India
has undergone a major
transformation in the last few
years and has been aligned
with global standards. As an
organization that's deeply
rooted in the real estate
markets of India, ICICI HFC has