Sephora Builders Pvt. Ltd.
Iranjal Rd, Kanjikkuzhy, Kottayam, Kerala 686002
918089381495,919895106388, 971561340373
sale@sephorabuilder.com
FAQ
What is the difference between carpet area, built-up and super built-up area?
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
Before purchasing property from a company, it is necessary to verify with the Registrar of Companies that the property is not mortgaged or is not being used as a security against a loan, otherwise it is not considered a freehold property.The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area that is actually used and in which a carpet can be laid. When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area. partition walls of the apartment.
What are the document required for applying a Home loan
The list of documents required to apply for a housing loan is as follows:
Completed Home Loan Application Form
- Passport-size Photographs
- Proof of Identification like PAN Card
- Passport
- Aadhar Card
Proof of Age: (Any one of the below)
- Aadhar Card
- Passport
- Bank Passbook
- Driving License
Proof of Residence:
- Bank Passbook
- Voter’s ID
- Ration Card
- Utility bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill)
Income Documents:
- For Salaried Individuals:
- Form 16
- Certified letter from Employer
- Payslip of last 2 months
- Other investment proofs (like fixed deposits, shares, etc) and his/her passport-size photographs.
Self Employed:
- Income Tax Returns (ITR) of the last 3 years
- Balance Sheet and Profit & Loss Account Statement of the Company/Firm (duly attested by a C.A.)
- Business License Details (or any other equivalent document)
- Registration Certificate of Establishment
- Proof of Business Address
Property Documents:
- NOC from Society/Builder
- A detailed estimate of the cost of construction of the house
- Registered Sale Deed, Allotment Letter or Stamped Agreement of Sale with the Builder (original document)
- Occupancy Certificate (in case of ready-to-move-in properties)
- Property Tax Receipts, Maintenance Bills and Electricity Bills
- Payment receipt or bank account statements showing payments made to the Builder or Seller
How to reduce your EMI amount
These are a few ways to reduce your EMI: You can opt for a loan with a longer repayment tenure. Go for a Step-Down EMI Plan. Try and consider taking loans with your existing bank. Opt for a higher down payment.