FAQ

What is meaning of property’s market value?

Market value is a price which a property should bring in market under all conditions essential for a fair sale.

Can corporate bodies use residential properties as office space?
Running a teaching, yoga, painting, dance or tuition classes from your residence is legal without paying any commercial property tex. But other than that you have to take license from Municipal Corporation and have to pay commercial property tax.

What does a maintenance charge cover?
A maintenance charge covers the costs incurred on amenities, such as common areas, elevators, terraces, parking areas, expenses for building repair, water charges, parking charges, property tax, insurance premium charges, common electricity etc.

What action can I take against a builder who is delaying possession?
At first you should send a letter to the builder claiming the refund of the amounts paid along with interest and/or damages. If you are not satisfied with the builder’s response then register your complaint with CREDAI.

What is CREDAI?
Confederation of Real Estate Developers’ Associations of India (CREDAI) interacts with government, academies and media to promote fair play and transparency in the business of real estate.

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