Frequently Asked Questions
Common questions about buying, selling, RERA, loans & more
general
What is the difference between Carpet Area, Built-up Area, and Super Built-up Area?
Carpet Area is the actual usable floor area inside walls. Built-up Area includes carpet area plus walls. Super Built-up Area additionally includes a share of common areas (lobby, stairs, etc.). Under RERA, builders must declare carpet area.
What is GST on property purchase?
GST is 5% on under-construction properties (1% for affordable housing) without input tax credit. There is NO GST on ready-to-move-in properties with completion certificates.
loans
What documents do I need for a home loan?
Typically you will need: identity proof (Aadhaar/PAN), address proof, income proof (salary slips/ITR), bank statements (6 months), property documents, and the sale agreement. Requirements may vary by lender.
nri
Can NRIs buy property in India?
Yes, NRIs (Non-Resident Indians) can purchase residential and commercial property in India under FEMA regulations. They cannot, however, purchase agricultural land, plantation property, or farmhouses without RBI approval.
rera
What is RERA and why is it important?
RERA (Real Estate Regulatory Authority) is an Indian law passed in 2016 that protects home buyers and brings transparency to the real estate sector. All projects above a certain size must be registered with the state RERA. We display RERA numbers on every applicable listing.
sellers
How do I list my property on Solace Ventures?
Click on "List Your Property" in the top menu, fill in your property details, upload photos, and submit. Our team will verify and publish your listing typically within 24 hours.