Buyers Guide

 As you buy a new home, these questions will answer all common queries about buying and owing a property in India


Loan FAQ’s

For self-employed applicants

  • A brief introduction of Business/Profession
  • Photo Identity Proof, Residence Address Proof, Signature Verification Statement for all the  main partners/directors
  • Repayment Track record of existing loans/Loan closure letter
  • Board Resolution in case of a company
  • Proof of existence of the company
  • Office Address Proof
  • Income Tax Return / Computation of Total Income / Auditors Report / Balance Sheet / Profit & Loss Account certified by Chartered Accountant for last 2 years (both for business and personal of partners/directors)

For salaried applicants

  • Last 3 months' Salary Slip
  • Repayment Track record of existing loans/Loan closure letter
  • Bank Statement for the last 6 months from Salary Account

What are the documents required for availing a home loan?

  • Completed Application Form
  • Photograph
  • Photo Identity Proof
  • Residence Address Proof
  • Signature Verification Proof
  • Age Proof
  • Fee Cheque

What is the term of the loan that banks offer?

Banks and financial institutions usually offer loans for a term of 10 - 25 years.

How much loan can I avail?

You can avail a maximum loan of 80% of the Agreement value. However your loan amount may differ as per your income eligibility as appraised by the bank. All loans are at the sole discretion of the bank.

Can i get my house financed?

Yes. All Samarth Group offered for sale have clear titles. All Samarth Group are approved with most leading banks and financial institution for availing home loans.

Have Any More Question..?

Q: What is the procedure for execution of the agreement for sale?

The procedure involved is three-fold:

  • Firstly, the payment of adequate stamp duty on the Agreement for Sale
  • Secondly, Execution of the Agreement for Sale by the Developer/Promoter and the Purchaser
  • Thirdly, Registration of Agreement for Sale.

Q: What are the documents that should be verified before buying a residential / commercial unit?

  • Ownership documents of land owner including title certificate.
  • Development Agreement, if the developer is not the owner and has acquired the development rights.
  • Intimation of Disapproval (IOD) and the building plan's approved by competent authority.
  • Commencement Certificate.
  • Other permissions issued by the competent authority depending on the nature of plot/type of development.
  • If the construction is completed then Occupancy Certificate or Building Completion Certificate.
  • Draft of Agreement for Sale and brochure for specifications, layout and amenities in the flat/complex/layout.

Q: What documents are required if the intended purchaser wishes to proceed for purchase of premises?

The Developer shall execute an Agreement for Sale as per the provisions of The Maharashtra Ownership Flats (Regulation of the Promotion, Construction, Sale, Management and Transfer) Act, 1963 ("the MOFA").

About Tax Benefits

Income Tax Certificate

Every bank issues an income tax certificate that serves as requisite proof to let you avail of tax benefits that accrue on repayment of a home loan. This will typically contain the total amount of interest and capital repaid during the Year. This is mandatory to claim the tax benefit in respect of self-occupied property. You will have to file this with your tax returns and submit this to your employer or chartered accountant to calculate your tax liability.

That brings us to section 80C of the Income Tax Act.

A deduction u/s 80C (2) (xviii) is available on repayment of principal during a financial year up to Rs. 1,00,000/-, this aforesaid limit is within the overall limit of Rs 1 lakh specified in section 80C of the Income Tax Act. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount. This deduction is from Gross Total Income.

Let's start with section 24 of the Income Tax Act.

This section deals with deduction available on Interest paid on capital borrowed for the purpose of purchase, construction, repair, renewal or reconstruction of property. That means you are allowed to deduct an amount equivalent to the total interest payable on the housing loan from your taxable income within the same financial year.

This is now a substantial amount. It started off with the Income Tax Department offering Rs 15,000 as the maximum amount eligible for deduction in the case of self-occupied property. This later got doubled to Rs 30,000. It did not stop there. After getting enhanced to Rs 75,000, it was then taken to a limit of Rs 1 lakh. Presently, the limit stands elevated to Rs 1.5 lakh.

So, should you borrow money to purchase or construct, repair, renew or reconstruct property on or after April 1, 1999, you get a deduction of up to Rs 1.5 lakh on interest paid. The criteria being: the property has to be acquired or constructed within 3 years from the end of financial year in which the capital was borrowed and be self - occupied. When put in figures, this is quite an amount:

  • Assume taxable income of Rs 4 lakh, placing the assessee in the highest tax bracket.
  • Assume interest payment during the first financial year is Rs 1.60 lakh
  • Taxable income stands reduced to Rs 2.5 lakh (Rs 4 lakh - Rs 1.5 lakh being the maximum limit)
  • Total tax amounts to Rs 24,720 (tax of Rs 24,000 + Education Cess Rs 480+ SHEC Rs. 240)
  • Tax saved is Rs 46,350 (tax @30% on Rs 1.5 lakh plus 2% EC+ 1% SHEC as purchaser is in the highest tax bracket)

Stamp duty and Registration

Stamp duty rates have been revised w.e.f April 2012 as under -

For residential as well as commercial units the stamp duty payable is applicable @ 6% of market value of such a unit or consideration paid under the agreement, whichever is higher.

The market value of the Unit is determined on the basis of stamp duty ready recknor issued by the government every year on January 1st. Further registration fees are payable @ 1% of market value/consideration (whichever is higher) and is capped up to Rs. 30,000/-.

Why to invest in Pune?

As an educational hub and with growing IT and manufacturing industries, Pune is a popular investment location.


According to a McKinsey report on urbanisation in India, Pune will be a megacity by the year 2025. It further illustrates that Pune will be the 6th largest city (in terms of population) by 2030, with a GDP of $76 billion.

The Government has taken easy accessibility and convenience into consideration for the city, with plans for a ring road, metro and even a new airport.

In terms of social infrastructure, Pune is one of the top few cities in India to drive an upward change in education, healthcare, entertainment and more. Labelled 'Oxford of the East', Pune has some of the most well-known public and private schools in the country as well as multiple universities.

Commercial sector:

As preferred destination for IT companies in the country, Pune has a a large number of IT hubs – including Kharadi, Magarpatta and Hinjewadi – as well as 61 notified Special Economic Zones.

real estate in pune


The Samarth Group, based in Pune, is a realty developer of repute with stakes in residential, commercial and IT-ITES segments of construction. Over the years, we have undertaken massive land development projects, which have been well received by our customers. We also have an interest in developing bungalow and farmhouse plots around the city.

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