FAQS

Maintaining a home

  • Who takes care of the maintenance within the community?
    • Our in-house property management division ‘Metro Asset Services’ will take care of maintenance for the 1st year using the annual deposits collected from the residents at the time of booking. Later the maintenance will be handed over to the owners association.

  • Is there an Owners’ Association? What is their role in the community?
    • Owner’s Association will be formed by the owners of the community once the project is handed over and will be responsible for the maintenance of common areas, security, clubhouse, activities etc. The Association maintains the project / complex and the residents are changed certain pre-fixed amount for such services. Such charges can be revised by the Association based on the costs.

  • When there are units of different sizes in a development, how is the maintenance charge calculated?
    • Maintenance is calculated on the actual saleable area of the respective units.

  • Why is Sinking fund collected?
    • Sinking fund is collected so that the Association has sufficient funds to meet unforeseen expenses, repair/replacement of equipments, carry out repairs, etc.
Financing a home

  • Can I avail a home loan?
    • Any Indian or NRI above 21 years and below 65 years can apply for a home loan.

  • How much loan can one get*?
    • Generally you can get a loan upto 85% of the property value depending and based on your eligibility criteria.   Age, income, credit rating, liabilities, occupation are some of the factors on which the eligibility will be   calculated.

  • How does one repay the loan*?
    • The loan is usually paid in equated monthly installments (EMI) and varies according to the options offered by   different financial institutions.

  • Would DivyaSree help me to obtain a home loan*?
    • Our projects are approved by certain financial institutions and we can assist you in availing loans through   such financial institutions. We also assist you by providing all the requisite documentation as requested by   the Bank.

  • Are there any extra expenses that will have to be incurred while availing the loan*?
    • Processing fees, technical fees, administrative fees are some of the expenses you may have to incur while   availing a loan.

*The information provided is only indicative and we request you to contact Banks / Financial Institutions for more details.
Buying a home

  • What are the various types of residential options I can get with DivyaSree?
    • DivyaSree offers residential products for every segment of customers – Apartments, Villas, Town Houses, Row Houses, Plotted Development.

  • What is the difference between carpet area and saleable area?
    • The area that is actually measured to lay a carpet i.e. excluding the walls is known as carpet area. Saleable Area, which is usually mentioned in floor plans constitutes the carpet area, wall area, along with the common areas like lobby, lifts etc.

  • Do I have to make the entire payment at the time of booking a home?
    • The payments would have to be made in installments based on the payment schedule as per the agreement. The schedule often is spread over the construction duration with 30% - 40% of the overall cost being paid upfront.

  • Can I make an upfront payment towards the cost of the home?
    • Yes

  • In which cities does DivyaSree have its presence?
    • Currently we are operational in Bangalore, Hyderabad & Chennai.

  • Why should I buy a DivyaSree home?
    • Divyasree is well known for having its projects at strategic locations, excellent quality, aesthetics and timely delivery.

  • What are the additional charges payable while buying a home?
    • Apart for the cost of the unit and carparking, the other additional charges payable would be         towards electricity/water, maintenance deposit, legal charges, clubhouse, gas connection, applicable taxes and registration costs. Such additional charges vary for difference projects.

  • Do NRI's require permission of Reserve Bank to acquire or transfer immovable property in India?
    • NRI's do not require any permission to acquire or transfer any immovable property in India other than agricultural / plantation property or a farm house. However, we recommend our clients to check with the requisite authorities for further details.

  • What constitutes conclusion of sale of a property?
    • On settlement of all charges due, registration of the sale deed and possession of the apartment the sale of the property is concluded. The possession of the property is also done at the conclusion of the sale.

  • Can the homes be transferred to a third party?
    • In case you decide to sell the home before registration, it can be transferred to a third party on payment of any applicable charges, as mentioned in the applicable agreements.

  • Are modifications possible and if so to what extent?
    • Modifications are done as per the Change Order procedures communicated to the buyers at the launch of the project. All modifications are subject to them being structurally and aesthetically viable.