FAQ’s

PROJECT RELATED QUERIES

Is this property safe and has all clearances?

  • The plot of the project is directly allotted by NOIDA authority, all the clearances i.e. Sanction Plan, Lease deed, Permission to Mortgage are obtained and fully paid up by the company.

When will the possession be given?

  • Possession will be given after four years, with the grace period of 180 days.(As per the terms & conditions mentioned in the allotment letter).

What kind of security would be provided?

  • Top of the line security shall be provided along with access control at the entry/exit gate of the complex. VisitorÔÇÖs pass will be issued by security at the lobby level to any person after security clearance.

Who will maintain the common area? Do I need to pay anything upfront towards common area charge?

  • The common area/services shall be maintained by a designated maintenance agency on payment of maintenance charges.
  • The interest-free maintenance deposit is applicable, as per the payment plan.
  • One year provisional common area maintenance charges will have to be paid in advance at the time of possession.

Is the basement common?

  • Yes, the basement is common to all. However, parking rights in the basement needs to be purchased
    separately.

PAYMENT RELATED QUERIES

Is the price escalation free?
Yes, the contracted price shall be escalation free, it is subject to standard terms & conditions,.

What are the various payment plans available?
Following payment plans are being offered:

  • Construction Linked Payment Plan
  • Down Payment Plan
  • Assured Return Payment Plan

Procedure for Applying online for NRI’s:

In order to facilitate easy bookings of properties residential or commercial for NRIs, the company, has download the PDF format of application forms for each project so that one could easily apply online. The information asked is easy to understand and requires to be filled in by the applicants. Along with the application, one needs to provide his/her photograph, Address Proof, copy of Passport and PAN card. In case your income is not taxable in India, a plain declaration through a mail could be sent to the marketing representative, with whom the applicant needs to get in touch within the organization, saying that his/her income is not taxable in India. Once all these requisites are completed, the same could be sent online, and the booking amount which usually is 10% of the BSP could be remitted online in the companyÔÇÖs account. The details of companyÔÇÖs bank account would be furnished by the market representative after form submission. Once remitting the said amount is complete, the receipt of the remittance is required to be sent to the related market representative for records and easy transaction. The next step of the procedure after the money gets remitted and deposited in our account, is receiving the official receipt issued by the company, and the application for booking the property is logged in.

After we log in the application for booking, all the necessary information regarding allotment, the signing of agreements, construction updates, demand letters, receipts, etc. are regularly sent at the email address mentioned. It is mandatory for every applicant at KRasa.

General Guidelines for NRIÔÇÖs & PIOÔÇÖs for purchasing property in India:

Types Residential Purpose Commercial Purpose Funds for Investment in Property Letting out of Property Proceeds Repatriable / Non Repatriable

Non-Resident Indian

No RBI Approval required

No RBI Approval required

a) Direct remittance NRO / NRE A/c

b) Loans against NRE / FCNR Deposits for Residential House only

No RBI approval required

Repatriation of sale Proceeds equivalent to the Original Investment is permitted for a maximum of two houses as well as Commercial Property after 3 years of acquisition (i.e. possession) or payment of last installment, whichever is later , provided the investment is out of direct remittance or NRE/FCNR account. Form IPI 8 to be submitted to RBI within 90 days of sale of the property.

Foreign citizen of Indian origin

No prior RBI approval only intimation to RBI in Form IPI-7 within 90 days of purchase (Press Release dated 8/1/1992)

No RBI approval required Intimation to RBI in Form IPI-7 within 90 days of purchase (08/06/93 Circular)

a) Out of NRE / FCNR a/c or Foreign remittance

b) Loans against NRE/ FCNR Deposits for Residential House only

c) With prior approval of RBI from NRO Account

No RBI approval required

Repatriation of sale Proceeds equivalent to the Original Investment is permitted for a maximum of two houses as well as Commercial Property after 3 years of acquisition (i.e. possession) or payment of last installment, whichever is later , provided the investment is out of direct remittance or NRE / FCNR account. Form IPI 8 to be submitted to RBI within 90 days of sale of the property.

Non Citizens of Foreign Origin i.e. Foreigners

RBI approval required (Circular dated 23/3/1992

RBI approval required

Direct remittance

RBI approval required (circular dated

Non Repatriable

 

 

 

 

23/3/1992

 

OCB
a) Controlled by NRI 60%

b) Others

a) RBI approval required

b) RBI approval required

a) RBI approval required

b) RBI approval required

a) Direct remittance

b) Direct remittance

a) No RBI approval required

b) No RBI approval required

a) Non Repatriable

b) Non Repatriable

FERA Companies

NO RBI approval required (FERA 104/92-RB Dated 29/1/92

No RBI approval required

Direct remittance

No RBI approval (Circular Dated 23/3/1992

Non Repatriable