1. What are the different documents that I need to check before purchasing a property?
It is important to check and verify documents like the layout plan, building plan, occupation certificate etc.before you purchase a property.
2. Do I require to pay stamp duty on the market value of the property or on the sum mentioned in the agreement?
You will be required to pay stamp duty on which ever amount is higher.
3. Is there a difference in the carpet area, built-up area and super built-up area?
There is a difference between the carpet, built-up, super built-up area. You should always ask the builder about all these areas and then decide on purchasing the property.
4. Can I invest in a property in India in case I am an NRI?
Yes, Non Resident Indians and Persons of Indian Origin are legally entitled to purchase a property in India. Builders and developers in Chandigarh are more than willing to guide you through the buying process.
5. How much commission do builders charge?
Builders charge a commission of approximately 1% to 5% per property sold.