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BP Infra Group is a budding company in the real estate segment of Infrastructure with the aim to touch the skies and become a giant in the industry. At BP Infra, we welcome you with open arms to join our growing family. BP Infra Projects is a company of the most distinguished and admired builders & developers that stands firm to upkeep our tradition of providing the best affordable houses to our customers. At BP Infra, we rely on four pillars - Business Ethics, Trust, Moral Values and Honesty and aim to touch the skies and thus becoming a giant in the industry.


Stamp Duty

Unless there is an agreement, the stamp duty shall be borne and paid by the purchaser as per Section 30 of the Maharashtra Stamp Act, 2013. The stamp duty to be paid on the Agreement for Sale shall be equivalent to 5% on the market value of the unit. The mode of payment of stamp duty is E-Payment through GRAS (Govt. Receipt Accounting System).


Execution

After the payment of stamp duty on the Agreement for Sale, the same shall be duly executed by all the parties, i.e. the Developer/Promoter and the Purchaser/s. All the pages of the document should be signed by all the parties.


Registration

The duly stamped and executed Agreement for Sale should be presented at the office of the concerned Sub-Registrar of Assurances for registration within 4 (four) months from the date of execution of Agreement for Sale. All the pages of the document should be signed by all the parties. Registration of the Agreement for Sale is compulsory as per Section 17 of Indian Registration Act, 1908. The registration fees shall be an amount being 1% of the market value of the unit, subject to maximum of Rs.30,000/-.



1.Ownership Documents of the Land Owner/Promoter including title certificate.
2.Development Agreement, if the Developer/Promoter is not the owner and has acquired the development rights.
3.Intimation of Disapproval (IOD)/Development Permission/ Commencement Certificate and the building plan/s approved by the competent authority.
4.Commencement Certificate.
5.Other permissions issued by the competent authority depending on the nature of plot/type of development.
6.If the construction is completed then the Occupancy Certificate issued by the competent authority.
7.Draft of Agreement for Sale and brochure for specifications, layout and amenities in the flat/complex/layout.

The Developer/Promoter shall execute an Agreement for Sale as per the provisions of the Real Estate (Regulation & Development) Act, 2016.

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/Allottee(s).
Thirdly, Registration of Agreement for Sale.

FAQ on Loan Enquiries

Can I get my House financed?

Yes. All BP Infra Group properties offered for sale have clear titles. All BP Infra Group projects are approved with most leading banks and financial institutions for availing home loans.

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.

What is the term of the loan that banks offer?

Loan tenures to a maximum of 30 years, depending on customer's age.

What are the documents required for availing a home loan?

1.Completed Application Form
2.Photograph
3.Photo Identity Proof
4.Residence Address Proof
5.Signature Verification Proof
6.Age Proof
7.Fee Cheque

What are the documents required for Salaried applicants?

1.Last 3 months' Salary Slip
2.Form 16
3.Repayment Track record of existing loans/Loan closure letter
4.Bank Statement for the last 6 months from Salary Account

What are the documents required for Self Employed Applicants?

1.A brief introduction of Business/Profession
2.Photo Identity Proof, Residence Address Proof, Signature Verification Statement for all the main partners/directors
3.Repayment Track record of existing loans/Loan closure letter
4.Board Resolution in case of a company
5.Proof of existence of the company
6.Office Address Proof
7.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).

FAQ on Tax Benefits

Do I get a tax benefit on the loan?

The repayment of the interest portion of the EMI is allowed as a deduction under section 24 if the purchase or construction is completed within a period of three years from the end of the year in which the loan is taken under the head "income from house property" up to Rs. 2,00,000/- for self-occupied property and full amount of interest in case of let-out property provided that loss from such let out house property does not exceed Rs.2 Lakhs.

Do I get deduction on intrest?

BP INFRA GROUP have completed 2 residential projects in Mumbai and one resedential project in Lucknow.

Do I get deduction on principal repayment?

The repayment of principal amount of the loan can be claimed as a deduction under section 80C up to a maximum amount of Rs. 1.5 Lakhs. You can also claim deduction under Section 80C towards payment made for stamp duty, registration fee and other expenses for the purpose of transferring the property in the name of the assessed. All these deductions however should not exceed the overall limit of Rs. 1.5 Lakhs.

What is Income from House Property?

According to the Indian Income Tax Act, if a person (resident or NRI) owns more than one house property, only one of them will be deemed as self-occupied. There will be no income tax on a self-occupied property. The other one, whether rented or not, will be deemed to be given on rent and deemed rental income (based on certain valuations prescribed by the income tax rules) will be added to income. Further, TDS will be deducted on actual rental incomes earned by NRI.

What is Wealth Tax?

Wealth tax is levied on the value of specified assets in excess of the Rs. 30,00,000. Specified assets include house property. However, the Wealth Tax Act provides an exemption in respect of one house property. There is a specific exemption available for returning Indians in respect of investment made in house property out of money brought from outside India or from balances held in NRE accounts as on date of return to India.

What is Capital Gains?

If a residential property is held by the seller for more than 36 months, it is considered a long-term investment or else short term. Long Term Capital Gain shall be computed by considering indexed cost of acquisition. NRIs are entitled to claim exemption from capital gain’s tax if they reinvest in specified assets as per Income Tax Act.

What is certificate for deduction at lower rate or tax exemption certificate?

Section 197 of the Income Tax Act, 1961 provides for deduction of tax at lower rates in certain cases. The rate prescribed for TDS from NRI's income is the maximum rate of tax at which relevant income is taxable in India. However, in majority of the cases of NRI, the actual tax liability is lower than this.