Knowledge Center

  • Real Estate (Regulation and Development) Act, 2016 FREQUENTLY ASKED QUESTIONS (FAQs).

    Read Real Estate (Regulation and Development) Act, 2016 – Frequently Asked Questions (FAQ)

  • What is a residential apartment?

    A residential apartment is an autonomous housing unit that consists of bed rooms, living rooms, kitchen, bath rooms, etc. It occupies only a part of a building. Apartments may be owned by an owner or by rented tenants. In commonwealth countries, the term 'flat' is used to describe apartments.

  • What should a buyer keep in mind while purchasing a residential apartment?

    Some important points to keep in mind while buying a residential apartment are:
    * Locality – Proximity to workplace, educational institutions, hospitals, shopping areas, entertainment center, transportation, pollution levels.
    * Quoted area of the flat i.e. Carpet, Built Up Area and Super Built Up Area
    * Car parking space
    * Quality of construction
    * Reputation of the builder or seller
    * Sufficient water and electric supply and other utilities
    * Cost components like price, stamp duty, registration charges, transfer fees, maintenance charges and other payments
    * Appreciation of the property for resale and rental
    * Other distinguishing features or advantages of the property

  • Should I inspect a property before buying it?

    It is definitely important to inspect the property before purchase as probably it is one of the largest single investment made by most buyers. It is crucial to know all the details of the property and need for any major repairs / modifications before it is purchased. It is easy to crosscheck the commitment made by builder and actual implementation if a pre-purchase inspection has been carried out. A close inspection points out the positive and negative aspects of the property, as well as the maintenance that will be necessary to keep it in good shape.

  • Who is a Non-Resident Indian (NRI)?

    An Indian citizen who stays abroad for employment or business or a vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. Non-resident foreign citizens of Indian Origin are treated at par with Non-resident Indian citizen (NRIs).

  • Do non-resident Indian citizens require permission of Reserve Bank to acquire residential/commercial property in India?

    Regulations regarding acquisition and transfer of immovable property in India by a person resident outside India has been notified vide RBI Notification No. FEMA 21/2000-RB dated May 3, 2000 as amended vide Notification No. FEMA 64/2002-RB dated June 29, 2002 and Notification No. FEMA 65/2002-RB dated June 29, 2002 and relevant directions issued in the form of A.P. (DIR Series) Circulars. These are available on RBI website:

  • Is It true that foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use?

    Yes. However, Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide residential purpose. They are, therefore, not required to obtain separate permission of Reserve Bank.