Frequently Asked Questions
How much price and quality research re materials can we expect our builder to do or to
have done?
This depends on the builder you hire. For the most part, you can't expect too much. Most builders work in their comfort zone. They use materials they're used to working with. They usually won't try something else unless insisted upon by the home buyer or developer. And, then they usually hire an outside source to do this.
As Master Builders, we use current technology and one of the reasons why we are both profitable and successful is that we keep abreast to new technology and want our buyers and developers to have this benefit in their homes.
What does a builder, expect the homeowner to do (other than to pay you as and when agreed).?
A builder expects the home buyer to be reasonable and realistic in their expectations. The time you spend in planning and thinking about what you want in you home is worth real money to you. If you are not good at planning, an Interior Designer will be critical to your final happiness.
If you can't make up your mind on the important aspects of the design, go and inspect examples of what you do like and get the Interior Designer to incorporate what you want in the plan.
The biggest problems that most builders run into is home buyer who change what has been agreed to or is unrealistic in what they want. This is why we have our home buyers sit down with an Interior Designer.
The ASID can sit down with you and help you visualize exactly what you want and help you make any compromises you may have to make.
It is very expensive to make changes during a project. Let's say that you wanted a 17x20 kitchen. Sounds like a big kitchen.
Probably too big. However, once the cabinets and appliances start coming in you realize that it's too small and want the kitchen to be bigger.
Who is a non-resident Indian (NRI)?
An Indian Citizen who stays abroad for employment / carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisation and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non- residents). Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs).
Who is a person of Indian Origin ?
For the purpose of availing of the facilities of opening and maintenance of bank accounts and investments in shares/securities in India : A foreign citizen (other than a citizen of Pakistan or Bangladesh is deemed to be of Indian origin, if,
(i) he, At any time, held an Indian passport
(or)
(ii) he or either of his parents or any of his grand parents was a citizen by virtue of the constitution of India or citizenship act, 1995 (57 of 1955).
Note: A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian origin is also treated as a person of Indian origin for the above purposes.
B. For investments in immovable properties:
A foreign citizen other than a citizen of Pakistan, Bangladesh, Sri Lanka or Nepal), Is deemed to be of Indian origin if,
(i) he, At any time, held an Indian passport
(or)
(ii) he or either of his parents or any of his grand parents was a citizen by virtue of the constitution of India or citizenship act, 1995 (57 of 1955).
Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?
Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc., to grant housing loans to non-resident Indian nationals for acquisition of houses/flats for self-occupation subject to certain conditions. The borrower is required to meet at least 25% of the cost by way of foreign inward remittance through banking channels or out of funds held in his NRE/FCNR accounts.