Founded in 2020 by innovative business leaders, Address India has helped more than 500+ people find their dream homes through the efforts of our dedicated employees. Our commitment towards assisting people in their home buying process has branched out into offering various services across buying, renting, consulting and marketing for both businesses and individuals.
Our services are available across Dehradun and Ghaziabad, India at present.
We list a range of residential real estate properties including apartments and penthouses through our web platform. Our listings include everything from new, resale, under construction and upcoming properties.
We have a dedicated customer care service team, which is available at your service. You can reach out to them on mail at [email protected]
To buy a property through Address India, you need to follow the following steps:
You would receive a call back from us within 10-15 minutes of placing your enquiry with us, provided you have posted your requirements between 10 AM and 7 PM Otherwise, we would be reaching you the next day.
Yes. We have tie-ups with some of the leading banks in the country and also have an internal consulting branch to help you with financing your purchase.
Your eligibility for getting a home loan depends on a number of factors like credit score, outstanding loans, and other liabilities, monthly income, and your assets like mutual funds, bonds, savings certificates, gold, and many more. After a detailed analysis of all the above-mentioned factors, the bank will sanction your loan subject to submission of all the mandatory documents.
We’d recommend you consult a financial advisor to help you with your specific requirements. Our Consulting branch will guide you through all the specifics in the best way possible.
There are 4 categories under PMAY:
EWS, LIG, MIG I and MIG II. The interest subsidy offered on categories EWS and LIG is 6.5% for a tenure upto 20 years. The interest subsidy is provided for a tenure of 20 years at a rate of 4% for MIG-I and 3% for MIG-II. The subsidy is subject to a maximum of INR 2.67 Lakh.
The date to avail the subsidy benefit for those falling under the EWS and LIG categories has been extended to March 31, 2022; while the deadline for those in the MIG-I and MIG-II categories expired on March 31, 2021.
The amount of rent that you can earn annually from a property in metro cities lies between 2-3% of the property value. For example, if your property value is INR 50 Lakh, the maximum rent you can expect is INR 1.5 to 2 Lakh per annum. If you invest in a Tier 2 city with growth potential, it can fetch you a rental income of anywhere around 5-6%. For the same property value, now you could be earning at least INR 2.5 to 3 Lakh per annum in rental income. Also, the resale value will be significantly higher as compared to developed cities.
So, from an investment point of view, opt for a location that has future prospects. Dehradun could be a great choice for an investment.
Valuation of the property is done by multiplying the cost of construction per square foot with the built-up area of the property. This is the generally followed method by most banks.
Home insurance policies cover everything from the house structure to its contents and possessions. Many insurance schemes also combine various personal insurance features with the underlined.
Home insurance companies usually cover furniture, electronic/electrical gadgets, and jewelry under personal possessions. However, the maximum liability of these items depends upon the type of insurance cover that you are looking for or valuations done by the bank.
Home insurance is a kind of insurance policy that covers residential properties and provides protection against unpredictable damages, natural or man-made disasters, burglary and theft.
It varies from bank to bank. Generally, most policies cover a period of five years.
A home loan is money borrowed from a bank or a housing finance institution on interest for buying/constructing/upgrading a residential real estate property.
The tenure of a home loan generally varies between 3 to 30 years.
The banks usually offer the following types of loans to borrowers:
Absolutely. Lending institutions allow you the option to prepay your loan. However, the early repayment can incur penalties, which may vary from 2 – 3% of the outstanding principal amount.
The longer the tenure you have, the lesser will be your EMI but the higher would be the interest payable on the loan. For shorter tenures, the EMI is more, but the interest incurred is far lesser.
In most cases, the property to be purchased itself becomes security and is mortgaged to the lender until the entire loan amount is repaid. Some lenders may ask for additional security such as life insurance policies, fixed deposits and savings certificates.
A home loan offers you ample tax benefits. So it may actually be of interest to go for a home loan. However, please consult your financial advisor to discuss the advantages and disadvantages in your case.
It depends from bank to bank. Some banks may ask for a guarantor.
Absolutely. You can sell the property with the consent of the banking institution as you’ll have to settle the loan.
If the buyer, you are selling the house to, wants to take a loan to buy the property, the process is much easier if he approaches the same bank as the bank doesn’t have to release the property papers to another bank or other financial institutions before getting the payment.
However, in case the buyer wants to make a payment outright, he can do so to the bank directly. The bank will release the property papers only after the entire loan amount has been recovered.
Yes, a single woman can avail of a home loan. Plenty of lending institutions also offers special schemes for them, such as a discount of up to 0.25% on the interest rate.
Home loans are disbursed within one to three weeks, on average, after complete and satisfactory documentation, and completion of standard procedures.
In general, banking and other financial institutions pay around 75 to 80% of the cost of the property bought. The remaining 20 % of the amount is to be paid upfront. This amount is known as the down payment.
Absolutely. Although you can get the benefit on both loans, the total amount that you will be entitled to will not exceed INR 1.5 Lakh.
EMI or Equated Monthly Installment is the fixed amount paid by a borrower to the bank on a specific date every month. The EMIs are fixed when you borrow money from the bank as a loan. EMI’s consist of both interest and principal amount components of a loan in a way that over a specific number of years, the loan amount is repaid to the bank with interest.
Pre-EMI is when the borrower is required to pay only the interest on the loan amount that will be disbursed as per the stages of construction of the project. The actual EMI payment starts after the possession has been granted.
Absolutely. You can avail of a pre-approved loan from a bank or an NBFC.
Apart from other criteria and parameters of the lending bank, the home loan amount is usually calculated as 30 to 60 % of your gross income. You can always increase your loan eligibility for a higher amount by including a co-applicant.
You have to submit the following documents to process your application for a home loan:
For home loans, interest is calculated either on a monthly reducing or yearly reducing balance. In some cases, the daily reducing method is also adopted.
Annual reducing: In this method, the principal reduces at the end of the year. Thus, you continue paying interest on a certain part of the principal that you have paid back to the lender. This means that the EMI for the monthly reducing system is effectively lesser than the annual reducing system.
Monthly reducing: In this method, the principal, reduces every month as and when you pay your EMI.
Daily Reducing: In this method, the principal reduces from the day you pay your EMI. EMI in the daily reducing system is lesser than that of the monthly reducing system.
Home loans are usually accompanied by a host of extra costs:
Property is considered a capital asset the gains arising from the sale of property incur capital gains tax. Such gains are calculated after adjusting the rate of inflation, transfer and renovation charges.
Yes. In general, the stamp duty on the gift deed ranges from 5% to 12% across all states. In Rajasthan, Delhi, and Haryana, a concession of 1 to 2 % is given to female transferors.
Stamp Duty is the tax paid for the legal recognition of property. A homebuyer is liable to pay the stamp duty. You can claim tax benefits of up to INR 1.5 Lakh on stamp duty and registration charges on a new property purchase or construction of a house. However, these benefits are applicable for only one self-occupied property.
Tax Deducted at Source (TDS) is 1% on immovable properties (except agricultural land) exceeding INR 50 Lakh.
Stamp Duty depends upon the state and municipal laws.
Service Tax is a central tax paid for the services offered by the developer to you. If the apartment is worth less than Rs 1 crore, or has a floor area less than 2000 Sq. Ft., the service charge levied is 14% on car parking and preferential location charges (PLC) and 3.50% on the basic sale price. If the apartment is worth more than Rs 1 crore, or has a floor area greater than 2000 sq ft, the service tax levied is 14% on car parking and preferential location charges (PLC) and 4.2% on the basic sale price of the flat. These figures are in regulation from 1st April, 2015 onwards.
The major difference lies in its ownership. In a leasehold property, the ownership remains with the concerned local authority or the government, depending upon the case. The lease period varies typically between 30 to 99 years. However, this doesn’t prevent the individual owner from selling or performing other transactions with the property, provided the lease deed is registered.
As for a freehold property, the owner of the property is the legal owner and can sell/lease/rent the property as per his/her wish.
The language of the registration document should be one of the commonly used languages in your district. According to Section 19 of the Indian Registration Act, the Registering Officer or the Registrar has the power to decline registration of your document if it has been represented in a language which isn’t commonly used in the district, unless and until it is accompanied with a true translation of the language in use.
Yes. In this case, you can execute a Special Power Of Attorney to get your property registered by the chosen person.
Power of Attorney allows a person to authorize another person the right to make decisions regarding the person’s assets, finances, and real estate properties.
There are two types of power of attorney. ‘General Power of Attorney’ allows a property owner to confer ‘general’ rights to the other person. These rights include, but are not limited to sell, lease, sub-lease etc. ‘Special Power of Attorney’ allows only a specific right to be given by the owner to the chosen person.
Property registration refers to the registering of documents related to the transfer, sale, lease, or any other form of disposal of immovable property.
Registration is mandatory by law for all properties under Section 17 of the Indian Registrations Act, 1908. Upon lawful registration, the person in whose favor the property is registered is the lawful owner and is fully responsible for it in all regards.
Registration of a property includes necessary stamp duty and registration charges for a sale deed and recording it at the office of the Sub-Registrar, of the concerned jurisdictional area.
If a property is purchased directly from a developer, registration is an act of legal conveyance. In the instance of the purchase of the property being a second or third transaction, it involves a duly stamped and registered transfer deed.
These days, the registration process is computerized to a large extent across all states.
Following documents should be checked while buying a resale property:
Following documents are required for the registration for a resale:
Following documents are required for the registration of a new apartment/plot:
Following documents are required for the registration of an independent house:
Yes. FIR is mandatory in cases where insurance is claimed for riots, terrorism, malicious damages, burglary, theft, and larceny. You need to submit the assessment report compiled by the fire department in case of a fire incident.
Phone: +91-874-482-8000
Email: [email protected]
Address: D-58, Race Course, Dehradun, Uttarakhand, 248001, India
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