BARUAH DEVELOPERS & INFRASTRUCTURE PVT LTD

Frequently Asked Question and Some Important Points

(Please Note: This guide is designed to help people who are interested in buying flats in brand new constructions as well as already existing buildings. Some of the points may not be applicable to you depending on the kind of flat you are buying.)

1. How to buy a flat?
2. Choosing your flat - Location!
3. Are you sure that the you are going to buy the flat in Built-up area? Do you know the difference of Carpet area/Built-up area and super built-up area?
4. Is the builder followed approved drawing at the time of construction?
5. Check the quality of constuction!
6. What is the Defination of earthquake-resistant structure?
7. WHAT IS THE NEED FOR EARTHQUAKE RESISTANT FOUNDATIONS?
8. Do you know about the Pile foundation systems?

1 . How to buy a flat?

A :  For most people, buying a flat is one of the biggest buys they make in their life. It involves a huge amount of money. When you put in so much money, you want to be sure that you are making the right decisions and not doing anything wrong. That is exactly what this article will help you with. The actual process of buying a flat is not very complicated. Even if you do not understand it, your seller will be more than happy to explain each and every thing to you. The difficult part is, knowing that you are not being "fooled" or "conned" by someone. This guide will give you all the possible tips and tricks you should keep in mind so that you can make your decision wisely. We hope you find it helpful.

2 . Choosing your flat - Location!

A :  When choosing the location of your flat, you must consider these questions:
1. Is there a "daily market" from which you can buy fruits and vegetables near-by?
2. Is there a doctor's clinic or hospital nearby?
3. If you and your family rely on public transport, is there a buss stop, railway station etc. close-by?
4. If you have small children, is there a playground, park, and garden etc. close-by?0
5.  Does the area have proper drainage, sewage and water supply?
6. Is there a regular system for garbage disposal in your area?
7. What about schools, collages, offices? How far are they from the location?
8. What will the daily transport cost be?
9. What is the pollution and noise situation in the area?
10. How is the neighborhood? Is it a safe place to raise children?
12. Is the flat designed to suit your needs?
13. Is the area of plot is physically same as per in papers shown by the builder?
14. Is the set back norms followed by the builder as per latest Building bye-laws?

3. You need know

 1) Carpet area is the actual usable area which the user gets to use.

2) Built-up area consists of area outside your house, staircase, elevator, etc which can constitute upto 20-25% of the area.As for example if you buy a 1000 sq.ft built-up area, you will actually

    get to use only 750 sq.ft. 

3) Super built-up is area for the parapet, podium, garden,etc,

4. What is the Definition of earthquake-resistant structure?

A :  Building designed to prevent total collapse, preserve life, and minimize damage in case of an earthquake or tremor. Earthquakes exert lateral as well as vertical forces, and a structure's response to their random, often sudden motions is a complex task that is just beginning to be understood. Earthquake-resistant structures absorb and dissipate seismically induced motion through a combination of means: damping decreases the amplitude of oscillations of a vibrating structure, while ductile materials (e.g., steel) can withstand considerable inelastic deformation. If a skyscraper has too flexible a structure, then tremendous swaying in its upper floors can develop during an earthquake. Care must be taken to provide built-in tolerance for some structural damage, resist lateral loading through stiffeners (diagonal sway bracing), and allow areas of the building to move somewhat independently.

7 . WHAT IS THE NEED FOR EARTHQUAKE RESISTANT FOUNDATIONS?
A :  For the purpose of making a building truly earthquake resistant, it will be necessary to choose an appropriate foundation type for it. Since loads from typical low height buildings will be light, providing the required bearing area will not usually be a problem. The depth of footing in the soil should go below the zone of deep freezing in cold countries and below the level of shrinkage cracks in clayey soils. For choosing the type of footing from the earthquake angle, the soils may be grouped as Firm and Soft (AS MENTIONED BELOW) avoiding the weak soil unless compacted and brought to Soft or Firm condition.

8 . Do you know about the Pile foundation systems?

A :  Foundations relying on driven piles often have groups of piles connected by a pile cap (a large concrete block into which the heads of the piles are embedded) to distribute loads which are larger than one pile can bear. Pile caps and isolated piles are typically connected with grade beams to tie the foundation elements together; lighter structural elements bear on the grade beams while heavier elements bear directly on the pile cap.

One of the most important criteria is the cement being used in the construction. Try to check up often, though surprise visits about the type of cement being used. Ask the builder about this? Ask him to explain why he feels the particular cement being used is the best... Check up on the thickness of the external walls. If they are 6-inches walls, it is not a very stable construction. A 9-inch wall is always better.

Having used all the above given points, let us assume that you have finally found your dream house. Now, comes the question of paying for it. Most people will go in for a home loan... Things you must know about home loans! Please click on hoouseing loan page. Ensure first that the project you have choosen is approved by housing finance institutions.

"Don't try to be different. Just be good. To be good is different enough." ~Arthur Freed

Housing Loan

There are many different companies that are providing home loans. There are many different offers and features. How do you decide what loan you should go in for? To help you answer that, here are a few things you might want to consider. 

Best way to compare offers:   Go to the different institutions providing housing loans and ask them to calculate and give you the "net" amount of money you will have to pay over 10-Yrs and the "net" amount of money you will have to pay over 20-Yrs. When we say "net" we mean that the money includes everything, the administration, processing and all other possible fees. Note all the different rates that all the different organizations give. This will give you the best idea about the different rates. 

You will also have to choose between a 10-Yr or 20-Yr loan. A 20-Yr loan will mean lower EMI (equal monthly installments) but probably a higher interest rate. In the long run, you'll be paying more for your house because you will be making more interest payments. With a 10-year loan, the EMI will be higher but the interest rate lower; thus you'll pay less for your house because it will be paid off in a shorter period of time. You will have to decide what suites your needs. Find out about "processing fees", "administration charges" and the "quantum of loan". Get each institution to provide you with a written statement of all fees. Then, ask to reduce one or more of the fees. Use the lowest fees you to negotiate with other institutions. (Don't be shy. Seriously!) You must negotiate. 

If a sales person asks you to include false information on your home loan application to get quick approval, do not agree to this. Also don't get confused into borrowing more money than you need or can afford. A lot of Income Tax savings are possible with home loans. The Income Tax saved can be used to pay the EMI. So do not lose out on the income tax saving opportunities. 

Ideally, you should choose the bank which does not require a "guarantor" and offers home loans without "pre-payment penalty" (or a penalty for repaying loan before it is due). This helps you re-pay your loan as early as possible. 

The following documents will be required if you approach an institution with a home loan request. Try to take these documents along with you. If you show them that you are a serious buyer, they are more likely to be open to negotiations: 

If you are a Salaried Employee: 

1.The last 3monts salary slip showing statutory deductions 

2.Form 16 (showing tax deducted at source by employer) 

3.Proof of age (birth certificate/voter identity card/passport/school-leaving certificate/valid driving license) 

4.Proof of residence (phone bill/electricity bill/ration card) 

5.Xerox copy of your bank Pass-Book(Front page last 6months transaction)