Home Buying Expert | Pre-test

It is an official document issued by the local authorities to allow or permit the builder to begin construction.

It is an official document issued by central government to allow the permit the contractor to sanction the project

It is the document required by the owner of the house to renovate it.

The document required by the local authority to permit the occupancy by the owner

If the down payment is 20%, the loan is 80% and the bank pays Pre-EMI on behalf of the customer, the scheme is called 20:80 Subvention scheme with Pre-EMI Holiday

If the down payment is 20%, the loan is 80% and the developer pays Pre-EMI on behalf of the customer, the scheme is called 20:80 Subvention scheme with Pre-EMI Holiday

If the down payment is 20%, the customer is not availing loan and opts to pay Pre-EMI, the scheme is called 20:80 Subvention scheme with Pre-EMI Holiday

They worry about the customers to whom apartments have already been sold

Developer has made a huge financial investment in the project already, so commitment levels are higher.

The local authorities will not legally allow the developer to stop a project once excavation is done

The developer will not be able to use the land for any another purpose if the current project is abandoned

50%

33%

25%

35%

Interest due on the loan amount disbursed by a bank as per the project’s payment plan

50% of the EMI for an under construction building

Interest due on full loan amount pre-paid during construction

25% of the EMI for an under construction building

Difference between Built up area and the carpet area

Difference between Carpet Area and Super Built up Area

Difference between Built Up are and Super Built up area

None of the above

Daily payments – Not tied to Construction progress

Quarterly or monthly payments – Not tied to Construction progress

Periodic payments (monthly, quarterly, etc….) linked with construction progress

Customer is requested to make payments based on construction on or before a specified time

This letter is given to the customer at the time of loan but before the Agreement is made.

This letter is given to the customer at the time of possession but before the Agreement is made.

This letter is given to the customer at the time of booking but after the Agreement is made.

This letter is given to the customer at the time of or soon after booking but before the Agreement is made.

Yes

No

Legal document which lists all terms and conditions pertaining to the purchase of undivided share (UDS) of land.

Legal document which lists all terms and conditions pertaining to the sale of undivided share (UDS) of land as well as Construction agreement.

Government document which lists all terms and conditions pertaining to the sale of undivided share (UDS) of land as well as Construction agreement.

Tri party agreement which lists all terms and conditions pertaining to the sale and loan of undivided share (UDS) of land as well as Construction agreement.

Time tied because they can plan their expenses accordingly

Construction tied because it ensures that the payments due are in line with construction progress

Time tied because the schedule is set and the developer has very little room to deviate from schedule

Construction tied because the customer can be assured that the payments are directly used for further construction of the project

5 Floors

10 Floors

20 Floors

25 Floors