When you buy under-construction property, you do not pay the entire amount to the builder at the start. Your payments will be construction linked. While your property is under-construction you can choose to pay only the interest component on your partially disbursed loan – this interest only payment is called pre-EMI. Consider the below example
- Apartment cost – Rs. 50,00,000
- Own contribution (10%) – Rs. 5,00,000
- Loan amount – Rs. 40,00,000
- Current stage of demand – 30%
- Time to completion 24 months
- Which ITR form should I file if I have a capital gain on the property?
- Do I need to immediately pay the capital gain tax?
- Do I need to pay capital gains tax on inherited property?
- Can I claim a deduction for interest paid on a home loan while calculating capital gains?
- How is the capital gain calculated in the case of joint ownership of property?
- Are there any specific instructions that residents should keep in mind?
- How often does this system need maintenance?
- What to do if residents experience any issues with the water supply?
- What happens if there is a power outage?
- Is GST refundable if I cancel my booking?
- Is GST applicable on resale flats?
- How to avoid GST on flat purchases?
- Are smaller configurations easy to resale?
- Can the BHK configuration change over time?
- As per the Vastu, which is the best corner of a flat?
- How important is the direction of the main door in Vastu for an under-construction property?
- What happens if the home is not Vastu compliant?
- What plants can I keep at the entrance of my house?
- Is a 7/12 extract required for availing loan from banks for land related purposes?
- Is a 7/12 extract the same as a property title or ownership certificate?
- Is it mandatory to have a 7/12 extract for all lands in Maharashtra?
- What happens if the 7/12 extract is lost or damaged?
- How does women’s property ownership affect their heirs’ rights in India?
- How can owning property in a woman’s name increase her credit score?
- Is the construction-linked payment plan a better option?
- Can I negotiate the terms of a construction-linked payment plan?
- What are some challenges of developing a greenfield project?
- What are some examples of greenfield projects in Mumbai?
- What is the difference between greenfield and brownfield development?
- What is a greenfield site?
- Is car parking included in the carpet area?
- What is the best area metric to use while comparing flats?
- Can builders sell on the basis of built-up area or super-built-up area?
- Which areas are covered under the RERA Carpet area?
- What is the difference between fit out possession and OC?
- Can I sell my house if the building does not have an occupancy certificate?
- Can a developer ask me for 100% payment without an occupancy certificate?
- What is the difference between the Occupation certificate and commencement certificate?
- What is the difference between commencement and encumbrance certificate?
- What is the difference between the Commencement certificate and completion certificate?
- How can I find and check the commencement certificate of a particular project?
- How do I book an apartment?
- What is the minimum amount of self contribution required?
- Do banks fund GST, other charges, stamp duty in their loan?
- What is the maximum amount of home loan funding I can get for my flat?
- How can I apply for a Home Loan and which banks can I apply with?
- What is Pradhan Mantri Awas Yojana (PMAY) and how do I check if I am eligible for PMAY benefit on my apartment?
- How do I calculate my loan eligibility?
- Can I self-fund the entire apartment?
- What is the minimum own contribution needed to book an apartment?
- What are the taxes on other charges?
- What are share of expenses towards society formation and legal charges?
- What are MSEB/MJP charges or electric and water meter charges?
- What is clubhouse membership charges and what are clubhouse usage charges?
- What are infrastructure/development charges?
- What is the difference between advance maintenance, advance maintenance deposits and corpus fund?
- What are ‘Other Charges’ and when do I have to pay them?
- Is car parking chargeable?
- What is agreement value and how is the agreement value computed?
- What are the components of my cost sheet?
- How do I select my Apartment?
- What is the RERA carpet area of my apartment? What is the difference between RERA and useable carpet area?
- How do I check the approvals and approving authority details?
- How do I check RERA details of the project?
- What can I do with the customer portal?
- How do I sign up for the customer portal?
- How do I access the customer portal?
- Will I get any benefit if I book another Marathon property?
- How can I refer a friend or relative to a Marathon property?
- Will I get any benefit if I refer any friend or relative who does the booking?
- What happens in case possession of my flat is delayed?
- When does the society get formed?
- What if I have to start fit-outs before receiving final possession?
- What are the formalities I need to complete before taking the possession handover?
- What are the taxes on other charges?
- What are share of expenses towards society formation and legal charges?
- What are MSEB/MJP charges or electric and water meter charges?
- What is clubhouse membership charges and what are clubhouse usage charges?
- What are infrastructure/development charges?
- Why am I being billed for maintenance even though I have paid maintenance deposits?
- Will I be charged maintenance even if I’ve not taken possession of my flat?
- When do I start getting billed for maintenance?
- What is the difference between advance maintenance, advance maintenance deposits and corpus fund?
- When do I have to pay the other charges?
- What are ‘Other Charges’?
- How do I raise a complaint or share feedback?
- How do I change my address or contact details provided to Marathon?
- Can I visit the site to check the construction status?
- How can I view and check past demand letters and receipts?
- Will I be assigned a Relationship Manager from Marathon?
- Do you guarantee that the price of the units in the project will not decrease?
- Is there a lock-in period before I can sell or lease my flat?
- What are the cancellation charges?
- What is the process for cancellation?
- What are the documents I will be receiving from you in case I am availing of a home loan?
- Can I pay my stamp duty in installments?
- Will you directly intimate my banker about demands?
- What if I want to pay the demand amount partially via bank loan and partially via self-funding?
- Is it mandatory for me to have a home loan sanction before registration?
- I have a loan eligibility of 70%. Do I have to pay 30% upfront?
- What is the minimum amount of self contribution required?
- Do banks fund GST, other charges, stamp duty in their loan?
- What is the maximum amount of home loan funding I can get for my flat?
- Can the co-owner of the flat also claim tax benefits?
- My flat is still under construction. Can I claim tax benefits?
- What are the tax benefits I can avail with a home loan?
- Which bankers can I avail a Home Loan from?
- How can I apply for a Home Loan?
- I am self-funding my flat. Do I still have to register my flat?
- Is it mandatory for me to be present for the registration? What if I am unable to be physically present there?
- I have booked my flat but not received a notification regarding registration
- How do I pay the stamp duty charges?
- What are the charges involved in registering the Agreement for my flat?
- What is the process for registering my flat?
- Why do I have to pay stamp duty and registration amount to register the Agreement for my flat?
- Can I visit the site to check the construction status?
- How can I view and check past demand letters and receipts?
- What if I want to pay the demand amount partially via bank loan and partially via self-funding?
- What is the GST rate for my flat?
- I am unable to make a payment right now. What are my options?
- How do I make TDS payments?
- Do I need to deduct TDS?
- What are the penalties for late payment of dues?
- When will I get the receipt for the payment made by me?
- Do I need to issue two separate cheques for tax and flat cost?
- How can I make payments?
- What is the period within which I have to make payments towards the demands?
- How will you notify me of demands?
- What are the contents of a demand letter?
- When will I receive a demand for payment?
- I’ve just booked a Marathon home. What are the next steps?