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How will a hike in repo rate impact you | Krisumi Waterfall Residences

On September 30 2022, for the fourth time in a row, the Reserve Bank of India's Monetary Policy Committee (MPC) decided to raise the repo rate or the lending rate by approximately 50 basis points. Simply speaking, the RBI increased the rate to 5.90%, joining the group of all the central banks and financial institutions that have done the same thing to counter inflation and rising dollar prices.

Let us understand the Repo Rate and how the hike will impact you and your money.

What is Repo Rate?

The repo rate is the rate at which the central bank of a country (which is the Reserve Bank Of India for us) lends out funds to other commercial banks. When banks borrow money from RBI, they must submit securities like collateral, treasury bills, or Government bonds. Mostly these loans are short-term loans when a bank is in dire need of emergency funds. RBI increases or decreases the repo rate to balance inflation by keeping the money supply in check. The repo rate was first hiked this year in May to 4.40%. It was further increased again in June to 4.90 per cent. The next hike happened in August when the repo rate was increased to 5.40%. Currently, the repo rate is 5.90%.

Impact of Repo Rate Hike on Citizens

1. Loans and EMI

When the banks or financial institutions increase the repo rates, the existing borrowers will experience a hike in their monthly EMI. This will have a big impact on people who are planning to buy new homes. The rate Hike impacts all types of loans like student loans, business loans, credit card loans, mortgages, personal loans, and various others. So if you are planning to buy 2BHK apartments in Gurgaon, you must learn about the new repo rate and how it will affect your EMI. Any change in the rate affects all types of customers as borrowing money from a bank or financial institution becomes more expensive. Therefore, it lowers the consumption of goods and services.

2. Savings

Individuals with savings and fixed deposits will usually benefit from the higher repo rates.

3. Mutual funds

All mutual fund investors, especially those who invest in-depth mutual funds, must be extremely careful during this hike in the repo rate. The rate increase directly affects debt mutual funds, especially all the long-duration bond funds. This is because all the bond prices start falling as the yield increases. This, in turn, lowers the return gained from debt investment. If you are a debt investor, you might experience temporary medium-range volatility.

4. Fixed deposit rates

All the consumers who have short or medium-term investments in banks and Financial institutions like fixed deposits will benefit hugely from the higher repo rates. This is because they will be receiving much higher returns from the investment. However, this depends on how and when your bank accepts the new rate.

5. Inflation

By the end of the next fiscal year, it is estimated that India will face economic stagnation if the inflation growth situation does not improve. Therefore, there won't be any growth, the unemployment rate will increase, and inflation will continue.   To balance the country's macroeconomic factors, RBI continuously monitors and updates the repo rate. Every time there is a change in the repo rate has a big impact on all the economic sectors. If you are planning to buy a 3BHK flat in Gurgaon, you should visit Krisumi Japanese Waterfall Residencies.

Home Vastu tips for first-time homebuyer | Krisumi Waterfall Residences

When you are planning to buy a new apartment, you definitely want the place to be perfect in every way. Before finalizing an apartment, you must consider numerous factors like the location, finances and vastu. You can easily get loads of information for the first two elements online. However, for Vastu, you must contact an expert who can offer essential Vastu tips for a peaceful home. If you follow these regulations, you can expect prosperity, wellness and long-term piece.

So to help first-time home buyers, here is a list of the top Vastu tips.

1. Square or rectangular plots

According to Vastu experts, the plot of your new house should be square or rectangular in shape. Also, the ideal plot should have four corners that point in the 4 basic directions. In most cases, a square plot is considered the best choice, followed by a rectangular-shaped plot. So the optimal ratio of the building length to the width on the plot should be 1: 1, 1:15 and 1:2. It is always advised that you avoid any plots with irregular boundaries or have other shapes like triangles or a circle.

2. Orientation of the house

For a happy and healthy home, the northern and eastern reductions are considered ideal as these directions impact the residents positively. So you bought a flat with an eastern or north-facing plot and at all chances should avoid West or south-facing ones.

3. Appropriate Colours

As per home Vastu regulations, the colour scheme of your home has an important role to play in inviting positive energy. So it is recommended that you use lighter colours like light blue, yellow or orange, allowing sunlight to enter your home directly. Never paint your house with dark or solid colours. In addition to the walls, light colours are also recommended for the furniture, appliances and other interior parts of the house. To be on the safer side, it is recommended that you contact a Vastu specialist who can recommend the colour scheme of your kitchen, bedroom, living room, etc.

4. Positioning of the rooms

As a first-time home buyer, you must understand where the rooms of the 3BHK flat in Gurgaon should be situated to maximize the positive effects of Vastu.
  • Kitchen

According to Vastu guidelines, your new home's kitchen should always be positioned in the South-eastern direction.
  • The master bedroom

This room should always be built in the South Western direction of the house where the fire element is weaker.
  • Children's room

The kid's room should always be in the South Western direction, and make sure your kids sleep facing the South or eastern direction for better luck.
  • Living room

The living room of your new house should always be in the eastern, Northern, or northeast direction. Additionally, the furniture should always be in the western or South Western direction.
  • Toilet

The washroom or toilet should always be positioned in the North Western, or Western direction.

5. The shape of the building

When buying a new property, make sure that you also take into consideration the shape of the structure or the building. Vastu Shastra considers Shermukhi or Gaumukhi shapes to be auspicious and lucky. The Gaumukhi shape has a narrow entry point and a broad back. While the Shermukhi shape has a broad entrance and narrow back. People have followed Vastu tips for generations, and it has brought good fortune and luck. Krisumi Japanese Waterfall Residencies is the best residential complex if you want to buy 2BHK apartments in Gurgaon.

Home Wall Colour Combinations  | Krisumi Waterfall Residences

How you decorate your house portrays an image of your choices and personality. The way you organise each piece of furniture and select the interior home colours reflects your taste. The colour combination you choose for the interior walls of your dream house has a significant influence on your family, and people need to make sure to select the correct wall colour combination.

So here is a list of the top wall colour combinations for your home interior.

1. Dark Purple

Dark shades have an intense appeal, which is different from the other shades. The living room is where you invite guests or spend most of your leisure time. So the room's decor and wall colours should match the mood. Painting your living room walls with a shade of dark purple can be pretty appealing, showcasing both classy and intimate appeal.

2. Purple and Metallic Grey

When you mix purple with metallic grey, it offers a more dignified and sophisticated look. The outward nature of the purple colour, when correctly blended with metallic grey, gives a unique combination. Purple and metallic grey is the perfect colour combination for home decor. It describes your exquisite taste.

3. Dark Blue

Blue is a unique colour that has different shades. Most of the darker shades of blue, like Navy Blue, dark blue, Indigo blue etc., offer a royal appeal. So if you want to add a royal touch to your dream 3BHK Flat in Gurgaon, this shade will do a fantastic job.

4. Blue and Yellow

The Blue and yellow colour combination offers an electric appeal. The mix of vivid blue with yellow makes your dream house look pretty dynamic and exciting. It also blends in with the mood of your home. This dynamic wall colour combination is perfect for study rooms as, according to science, we know the colour yellow enhances memory.

5. Red and White Combination

Most people in India love the colour red. It symbolises love and energy. Additionally, it can also be mixed with other colours to develop newer shades. The dark red combined with white is an excellent choice for your living room and dining room, as most people host parties in these rooms. This colour combination also helps initiate new conversations.

6. Pastel Colour

This wall colour combination is becoming increasingly popular among busy young adults. Pastel colour is soft and offers a relaxing environment which is perfect for today's busy life. If you are a soft person and enjoy a soothing environment, then the pastel home paint colours like powdered blue, lavender and mint green will be a perfect choice. Also, if you are expecting a baby, then these colours are a great choice for your nursery as they will be calming for the child.

7. The Monochrome Look

A popular colour combination that most new homeowners are widely accepting in Gurgaon is the monochrome template. You can use shades of grey to build a texture for your home interior walls. Grey is a neutral colour, and therefore will offer a pleasant and tranquil feel. In addition to this, shades of grey will also add a classy and majestic look to your living room and your bedroom. With these home interior colour combinations mentioned above now, you will have a clear idea of how to paint your dream house. While selecting the colour combination, keep your taste and aesthetic sense in mind. If you are looking for 2BHK apartments in Gurgaon, then you must visit Krisumi Japanese Waterfall Residencies.

Tips for Renting your Property in Gurgaon | Krisumi Waterfall Residences

Renting property in Gurgaon is a big deal. Looking for a hassle-free process to rent your property in Gurgaon? Then make sure you seek professional assistance from reliable sources to avoid any discrepancies. As one of the top real-estate groups in India, Krisumi is here to give you some valuable guidance and make real-estate investment a cakewalk for you!

Here are the Tips to Renting Your Property in Gurgaon:

1. Finalising the rent

The first step you need to take while renting your property is to assign a fixed rate amount. Before deciding on the amount, you must first perform a market check about the average rent prices in your locality and the current trend. A higher rent will make it pretty difficult for you to get a tenant. However, if you are fixated on getting a higher rate than the average market price, you need to justify the rent by offering extra features like complete furnishing and other premium services like top-notch security and garage services.

2. Proper Advertisement

Nowadays, most people visit various real estate websites to learn about nearby places for rent. Enlisting your 2BHK flat in Gurgaon on a popular real estate website with a catchy title is a good idea. These real estate websites have a column or a page called "house on rent", where thousands of homeowners post advertisements for the properties they are putting out on rent. To post your advertisement, all you have to do is create a profile with one such website, upload the correct details of the property along with photographs and then fix a rent. On the other hand, you can also try traditional methods like advertising in newspapers or getting in touch with a broker.

3. The Rent Agreement

While renting out your property, it is always advised that you make a legal contract. In this way, the entire process is legally documented so that there won't be any confusion in the future. While creating the rental agreement, make sure that the papers are duly signed by you and the tenant and that the terms and conditions are clearly mentioned.

4. Furnishing Details

While listing out your property on rent, you need to mention the furnishing details and also share details of every extra feature and fittings of the property. This documentation process will be useful in case the tenant damages any of the furniture. In such a scenario, you can always issue a penalty charge. Additionally, you also need to make sure that the walls and roof of your rental property are in good condition to avoid any conflicts.

5. Police Verification

It is crucial that you perform a background check on the tenant before renting the property. In this way, you can avoid all sources of trouble that may come with renting a property to a person with a criminal history. All you need to do is get the details of your tenant; you can ask for identity proof which you can cross-check from the state police department website or submit to a police station nearby to get the details. These are some of the things that you need to make sure of before renting out your property. Make sure that you mention all the terms and conditions correctly and clearly on the rent agreement. If you are looking for a 2BHK flat for sale in Gurgaon, you can always contact Krisumi Japanese Waterfall Residencies.

Why you should buy your dream house from a reliable real estate developer?

Buying a house for the very first time is a big decision. You have to consider numerous factors before finalising a property. One such important factor is the brand or the developer from whom you choose to buy your dream house. A Reliable real estate developer will have all the correct documents, credentials and permissions for construction and deliver the properties within the deadline. As the cost of properties is increasing daily, you must select the correct real estate developer from whom you are buying your apartment.

Here is a list of the advantages of buying a house from a well-known builder.

1. Following RERA Regulations

All Reputed developers are registered under RERA, and they ensure that the customers know about this. So before choosing any developer, you need to ensure this factor. Additionally, with the introduction of RERA, the developer has to follow the rules and regulations, and there is no chance of foul play.

2. Follows Deadlines

Reputed construction companies ensure they can deliver the apartments to their customers on time. And after the introduction of RERA, it has become their main responsibility to finish their projects within the deadline. So, you can rest assured that you will have the key to your dream house within the promised time.

3. Higher ROI

The developer or brand you choose will act as a plus point if you are planning to sell or rent out your property in the future. Most reputed builders develop residential projects in popular areas with good connectivity and a secured and up-market neighbourhood. Therefore, you can get a better ROI.

4. Top Notch Security

Most famous real estate developers will offer state of earth security features and gadgets in their residential projects. So you can rest assured that your family members and valuables will be safe from any kind of harm or theft, or burglary.

5. Top class Customer Service

Buying a 2BHK flat for sale in Gurgaon is a long-term investment; therefore, you would want a good relationship with the developer. A well-known real estate developer will understand the importance of customer service. So they offer excellent customer service to their buyers.

6. High-class features and amenities

You definitely want your dream house to come with top-notch and excellent amenities that will cater to your and your family's needs. Once you buy a property from a reputed developer, you will automatically have access to premium amenities like swimming pools, 24/7 electricity, a children's park, a basketball court and various other amenities.

7. Easy Bank Loans

Established real estate developers have earned their name and a certain amount of trust in the market. They also have tie-ups with various banks, credit unions and financial institutions. Therefore, when you decide to invest in a property developed by a reputable company and apply for a housing loan, it will be easily sanctioned without much hassle.

Things to consider before selecting the best real estate developer:

  • Get to know your options face to face and visit the residential projects
  • Check the testimonials and history of the developer
  • Learn about the safety measures taken by the builder
  • Research about the licence and certifications of the real estate developer
  • Make sure that the construction company is RERA-registered
Investing in 2BHK apartments in Gurgaon is like investing in a brand. So before buying your first home, make it a priority to visit the reputed brands first. Ask around, check the reviews online and contact the brand for more information. If you want to buy an apartment from a RERA-compliant builder, you must contact Krisumi Japanese Waterfall Residencies.

What is Carpet Area, Built-up Area and Super Built up Area?

Well, it is pretty common for home buyers to be confused about the terms and jargon used by property agents and realtors. While buying an apartment you might have heard of terms like Built-up area, super Built-up area, and carpet area, which in most cases are beyond the understanding of a common person. So if you are planning to buy an apartment, it is important to understand the difference between these three terms; therefore, you need to know what is carpet area, Built-up area and Super Built-up area.

In the article, we will discuss real estate technical terms in detail.

Carpet Area

Technically speaking carpet area is the area in your apartment that you can cover using a rug or a carpet. As per the RERA, the carpet area of an apartment is the net usable floor area. The area covered by the external walls is not included while calculating the carpet area; however, the internal partitions are considered.

How to Calculate Carpet Area?

Carpet Area = Area of the living room + bedroom + balconies + toilet - the thickness of the inner walls. According to the rules and regulations set by the RERA Act, the real estate agent is responsible for making the buyers aware of the total carpet area of the property. Therefore, the price of an apartment should be based on the carpet area.

Important Things About Carpet Area:

  • The developer has to include the carpet area on the sale agreement, sale deed and brochure.
  • You need to verify the carpet area on the brochure and the actual area.

Built-up Area

The Built-up area in an apartment is the sum of the actual carpet area and the space taken up by the walls. This area in an apartment also includes the terrace, flower beds, balconies, etc. It is always greater than the carpet area of the apartment. In most cases, the Built-up area is approximately 15 to 30% of the carpet area. For example, if the Built-up area of a 2BHK flat in Gurgaon is 1000 square feet, then the carpet area would be approximately 700 square feet.

How to calculate the Built-up area?

Built-up Area = Area of the balcony + Area of the walls + Carpet area.

Important things to know about Built-up Area

  • Most builders use the Built-up area to determine the actual area that can be used
  • You can calculate the estimated value of the carpet area by knowing the Built-up area

Super Built-up area

The area calculated, after adding the Built-up area of the property and the proportionate area of the common facilities in a residential housing project, is the super Built-up area. Some common facilities included in the calculation include the area of the garden, the park, the clubhouse, the swimming pool, the lobby, the lift shaft, the stairs, etc.

How to calculate the Super Built-up area?

Super Built-up Area = Built-up area of the apartment + the Common areas (swimming pool, lobby, lift, stairs)

Important things to know about the Super Built-up area

  • Remember that real estate deals based on the super Built-up area can be deceptive
  • However, if the developer is sharing the super Built-up area, you must ask them for a price breakdown of the different components used.
Before buying an apartment, you must know about the carpet area, Built-up area, and super Built-up area. This is because they are used to calculate the overall cost of the property. If you are looking to buy a 3BHK flat in Gurgaon, then a good idea would be to visit Krisumi Japanese Waterfall Residencies.

Transform your apartment with these best light decoration tips

Bought a new house and have no idea how to make it unique. Are you planning on inviting guests to your new house for a housewarming party, but you are confused about what decorations may impress them? Well, after buying a new house you will have many such questions. A simple way to make your house look cool and beautiful is learning about some of the top light decoration tips. We have been using artificial lighting since 70000 BC, and as the world has progressed, we made candles to intelligent lighting systems that can be controlled by a single tap. Simply speaking, lighting plays a crucial role in defining your aesthetics and your apartment's glamorous quotient.

Be it your living room, garden, or bedroom, we have put some of the top light decoration ideas just for you.

Best Light Decor Tips

1. Ambient Light

Ambient light is the main light source for your room. It offers a soft light, offers visibility and provides illumination. In addition, ambient lights help you move through your room safely.

2. Accent light

Accent lighting is used to set the ambience of your living space by channelling a series of lights at a certain focal point. This type of lighting offers a theatrical look by illuminating the architecture and the dark areas. Most people prefer accent lighting to highlight their paintings, artwork, statues, bookshelves and furniture.

3. Linear lights

If you do not like chandeliers, then the perfect alternative would be using linear lights. These lights can easily replace the complicated lighting style and offer your room a smart and sleek appearance. Besides offering your room a lovely and calm glow, you can also use linear lights for space optimisation. So if you want to change the appearance of your living room, this is the best option. You can even hang them or place them outdoors.

4. Ceiling Mounted Lights

If you are looking for lights for your bedroom, then ceiling-mounted lights are a must. These lights are available as flushed or semi-flushed and offer the maximum light. The flushed type is mostly available in the market as dome-shaped and touches the ceiling. On the other hand, the semi-flushed options keep some space between the walls and offer a halo-like effect. If you want something unique, combine the flushed and semi-flush ceiling-mounted lights, offering extra shine to dark areas.

5. Task Light

If you are a person who spends a lot of time in their study or office room, then task lighting is something which you must have. It is a unique setup that creates a shadow-free space. This type of lighting is perfect for studies. Some common examples of task lighting are ceiling pendants, overhead lamps, and desk lamps.

Unique Options for Room Lighting

  • Stars and Hanging Lights 
Looking for something out of the box? Then you can consider using pendant lights. These small lights hang from the ceiling and offer a soft glow, perfect for illuminating any part of your 2BHK Apartments in Gurgaon.
  • Wall Lights
Wish you had something to enhance the aesthetic appeal of your furniture and walls? Then, the modern wall lights are the perfect option. You might have got a new apartment that has prefixed lights. If you are happy with the setup, then you can continue with them. But it is important to understand the importance of lighting in your daily life. You can experiment with different lights to get the best ambience throughout the apartment. You can visit Krisumi Japanese Waterfall Residencies if you are looking for 2BHK flats for sale in Gurgaon.

7 Easy Kitchen Vastu Guidelines for your own home

There are different kinds of energy prevailing in your home, but the kitchen is one area that attracts good and bad energy.  Every single appliance and utensil stored in your kitchen is essential, and if they are not placed according to the principles of the Vastu Shastra, then there won't be any positive energy. So you have to follow specific rules and Kitchen Vastu guidelines to enhance the positive aura.

From layout to placement changes, here is a list of some invaluable kitchen Vastu guidelines for better health.

Top Vastu Tips for Your Kitchen

To ensure an abundance of positive energy in your kitchen, the elements of earth, fire, water, sky, and air must be balanced as per Vastu regulations. If possible, try to change the positions or amend certain places in your kitchen to increase the overall positive energy in your house.

1. The Direction

The kitchen entrance in your 2BHK flat in Gurgaon is pretty important. According to Vastu experts, the entrance of the door to your kitchen has to be in the North-western or eastern direction. You also must ensure that the entrance is not in any corner of the house.

2. Kitchen Layout

When it comes to the direction of your kitchen, you need to ensure that your kitchen faces the south-eastern direction of your home. The fire element rules the direction of your kitchen, as per Vastu, so this is a perfect direction. If it is not possible, you can try to have a kitchen facing the North Western direction.

3. Direction for Kitchen Stove

Once you are ready with the layout and the direction of your kitchen, the next thing that you have to decide is the direction of the stove and the cooking gas. As per Vastu regulations, you should always place the stove in the southeast direction. Also, the person using the stove should face the eastern direction as it is considered auspicious.

4. Blow away negative energy

According to Vastu, your kitchen should have at least two windows to let out the negativity. An exhaust fan is also essential; you should place it in the eastern direction to suck out the negative energy.

5. Position of the Sink

Sinks and taps in your kitchen indicate flowing water; hence, according to Vastu, the North-eastern direction is the most auspicious. However, the sink should not be close to the gas stove as fire and water are opposite elements and repel each other.

6. Position of the Fridge

As per Vastu regulations for your kitchen, the refrigerator should be placed in the Southwest direction, approximately a foot away from the corners. You need to avoid placing it in the North-eastern direction at any cost.

7. Tips for Electrical Appliances

Most modern kitchens have the latest electrical appliances like microwaves, OTG, mixer heaters, sandwich makers, etc. These electrical appliances should always be facing the Southwest direction in your kitchen. You also must ensure that none of these appliances is in the North-eastern direction.

Things to Strictly Avoid:

  • You should not position the kitchen door in any corner of the house
  • You need to keep space between the sink and the store
  • Avoid building your kitchen directly under or above the bathroom, bedroom, or Pooja room.
These are some of the essential Vastu tips for your kitchen that you must follow to ensure that your home is the heart of positive energy only.  As per Vastu kitchen tips, the best direction for your kitchen is the South-eastern direction. If you are looking for the best 3BHK flat in Gurgaon, you must visit Krisumi Japanese Waterfall Residencies.

NRIs should Invest in Real Estate Market | Krisumi Waterfall Residences

In the past couple of decades, there has been a steady rise in NRI investing in the real estate markets of India. According to recent statistics, out of the 80 billion US dollars India earned last year, more than 13 billion dollars was from the real estate market. Specific factors like the falling value of the Rupee and uncertainty in other investment options have made the path clear for investing in the real estate market.

Even though there are no specific restrictions, NRIs must know a few things before investing in the Indian real estate market.

1. Identify the best location.

Due to rapid urbanization and quick development, many areas in India have gained prominence. Certain places like IT hubs have become the top choice for investment as numerous IT organizations set up their offices. These localities are not only gaining popularity, but they are also experiencing unprecedented value appreciation. These factors make these areas attractive real estate investment destinations for NRI.

2. Choose a popular developer.

While buying Apartments or commercial properties, an NRI has to pick the correct builder who has enough experience in the market and is reliable. It is one of the essential factors that you have to keep in mind. Most NRIs looking to invest in 3BHK Flat in Gurgaon find it convenient to work with reputed and honest developers who usually have the necessary qualifications and certificates.

3. Housing loans available

Most banks and financial institutions in India offer NRIs funding options like housing loans. As the payment will be in INR, you have to open an NRE or NRO account. However, you need an excellent CIBIL score to qualify for a housing loan. Also, you need to have an Indian resident as a co-applicant.

4. Learn about RERA

As most builders and developers have to follow rules recommended by RERA, NRIs are also protected from any offenses or misdeeds of these builders. As an NRI, you can rest assured that the project will be completed within the deadline and receive all the promised aspects like carpet area and amenities.

5. No restriction on the number of properties

An NRI can invest in as many properties as they want. The only thing that they have to know is the type of tax liability they have to bear. As an NRI, you do not have to get any special permission to invest in real estate property in India. If you buy more than one property only one of them will be considered for their own self. The other properties will be categorized for leasing purposes. Therefore, the rent which you will receive from them will also be taxable. India is one of the fastest-growing real estate markets in the whole world. With the ability to withstand any type of pressure and even sustain recession on a global level, the Indian real estate market is a lucrative option for NRIs to invest in. Additionally, the rules and regulations in India are pretty lenient. If you are searching for a 2BHK flat for sale in Gurgaon, then you can visit the official website of Krisumi Japanese Waterfall Residences

List of documents needed for home buying | Krisumi Waterfall Residences

Buying an apartment for yourself and your family is a dream for most people in India. Meticulously planning to save money for several years can be daunting. But, home buying can be pretty smooth if you have the correct documents and an excellent legal understanding. While buying a 3BHK Flat in Gurgaon, you must be highly cautious at every step of the process until the process is complete.

Let us discuss the legal documents you need to buy a new home.

1. RERA Registration Certificate

Once you have selected the property you want to buy, you must check whether the project and the builder are registered with RERA. Using this, you can check the builder and project details.

2. Letter of Allotment

If you are planning to buy an under-construction building, it is advised that you get the allotment letter which will include all the correct details of your apartment or home and the financial details. Additionally, this letter of allotment is required for getting a housing loan from a bank or any other financial institution, as the document is proof of the actual property price.

3. Occupancy Certificate or OC

This crucial legal document allows the home buyer to physically possess the property. This document also proves that the development authorities or the municipality has inspected the property and that the developer has followed all the government-recommended rules and regulatory conditions. It is mandatory to get the occupancy certificate. Failure to do so will result in a penalty or eviction to the buyer.

4. Khata Certificate

Property tax is another mandatory charge that must be paid while buying the property. In Karnataka, property tax is known as khata or khata property tax. A Khata certificate is a legal document that represents the property assessment account. The document contains crucial information about the property, like the carpet area, the demarcations, the build-up area, and the owner's details (name, age, address, property tax ID). Khata certificates have different names across different states. Like in Maharashtra, it is known as a property register card.

5. Sale Agreement

This is one of the first documents you receive while buying a new home. The sale agreement includes the sales terms and the conditions of the property between the developer and the buyer. This critical document also contains the total payment that has to be made, the amount of payment that has already been made, and the expected date of the full payment. The sale agreement document facilities the sale process and acts as a map for financial transactions with the property descriptions.

6. Sale Deed and Title Deed

This is the final document of ownership. The sale deed records and maintains the actual ownership transfer of the property from the builder to the owner. It has to be registered at the sub-registers office so that the property you are buying can be included in the jurisdiction of the city where the transaction takes place. The sale deed also marks the end point of the sale agreement and initiates the beginning of the sale process.

7. NOC

NOC or non-objection certificate is a mandatory document you must get from the developer. Without a NOC, IOD cannot be granted to the builder. If you are planning to buy a 2BHK flat for sale in Gurgaon, these documents and necessary checks will ensure a smooth buying process. To buy the best 2, 3 BHK and penthouses in Gurgaon, you can visit Krisumi Japanese Waterfall Residences.

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