Somasita – faq

1) Why buy a home / Flat From SomaSita Constructions? Why?
Because our property combines natural beauty with rapidly rising real estate prices due to the proximity of the city and we have been
in the construction field from the last 10 years our name is synonymous to Quality and Inherent beauty. All our Constructions are
Built strictly adhering to the Principles and Vaastu and Blending these with aesthetic beauty without compromising on the Quality of
construction. The area has already experienced accelerated growth with property values rising as much as 70% in the last 12 months
and prices doubling every three years. The Hyderabad property market is one of the world’s real estate hot spots.

2) What makes Soma Sita Constructions special?
We build residential resort like no other. It has been conceived to fulfill your dreams of an ideal international community with a
wonderful array of amenities to suit everyone’s interests. In addition to spacious and luxuriously appointed apartments, town homes,
penthouses and villas, we offer Plantations of fruit bearing trees in farm houses.

3) What company is behind this project?
Soma Sita Constructions a Name Synonymous with Quality constructions. The company has been in the field of construction from the
past 10 years . With its Office in Hyderabad India, It combines a commitment to the highest possible standards in building and
design with a unique knowledge of India’s past, present and future. The company is focused on building a New India by incorporating
world-class technologies into the country’s select infrastructure areas. Each residence will enjoy expansive floor plans, balconies and
terraces, marble flooring, granite countertops, and ceramic tiles.

4) Is buying a home a good investment?
Land values in and around the Hyderabad area increase 30%-40% per year. No one can predict exactly what the property market is
likely to do, but the market is still rising so anything you buy now is likely to double in value in three to four years.

5) Why should I live So far on the Medchal highway?
There are many reasons why, but let’s start with congestion and smog. Hyderabad is one of India’s fastest growing metropolitan
cities, but its toxic air is choking the lungs of its children. Seven to eight hundred thousand lakh children (over 50%) suffer from
coughing, wheezing and other respiratory ailments due to the alarming air pollution levels. Much of the pollution is caused by the tens
of thousands of vehicles clogging Hyderabad streets. At our Properties , the air is clean and the grounds are as green and peaceful as
a botanical garden.

6) How close to the site are schools, churches and markets?
Within 3-4 miles there are churches, schools, banks, medical clinics, markets, and local government offices. Our Properties are close
to shops, restaurants, offices, and a supermarkets.

7) How far is the commute to most of the places in Hyderabad?
The highway from the city to our property is being upgraded and widened. If you have to commute, the time varies from 30-40
minutes. Distance form various locations.As an example here are a few details of the approximate distances from our properties to
some of the important destinations. n New Ring Road : 6.5 KMn Medchal National Highway : 4.5 KMn High Tech city : 29 KMn
Secunderabad Railway station : 28 KMn Airport (Begumpet) : 29 KMn Satyam Technology Center : 13 KMn Kompally : 14 KM

8) Are the highways in good condition from Hyderabad to your properties and the new airport?
We have excellent connectivity as This is a National Highway this is currently being widened so as to have a six-lane road throughout
its length.

9) What if the plans and permits are not granted ?
The property has been converted for the purposes of development and all the permissions have been approved from the authorized
authorities and the constructions are in full swing .

10) What are the different types and sizes of apartments?
We offer Different Floor plans of two, three, four, and five-bedroom apartments, townhouses, penthouses and villas. Our floor plans
range from (1,045 sq. ft. to 6,200 sq. ft. ) these figures are indicative only please put the final figures as per your details.

11) What are the other facilities?
Please Indicate what special facilities we are offering like (example :- Club house ,Swimming Pools , Tennis courts etc) in our existing
properties and also in to be developed ones)

12) How do I book my home / Flat / Farm House ?
Two simple steps! 1) Submit a CONTACT FORM Upon receipt of your form, a sales representative will be assigned to you, who will
contact you via either email or phone and supply you with a booking agreement form.2) Complete your booking agreement form and
return it to us with your down payment. The down payment amount is (30%) Indicative Only of the listed purchase price.

13) What happens after I book my new home?
You will be required to pay the remaining 70% balance as per the schedule given to you at the time of the agreement.

14) When do I get a confirmed allotment?
On payment of your 30% down payment.

15) How are installments to be paid?
Installments are to be paid by post-dated cheques, which is a pre-condition of the allotment. The payment schedule is 18 equal
bi-monthly payments ( INDICATIVE ONLY PLEASE CHANGE AS PER YOUR TERMS AND CONDITIONS). The payments are not linked to
the progress of the construction, but on a time bound basis as the delivery date has been established. If cheques are dishonored the
booking stands automatically cancelled. It is the purchaser’s responsibility to ensure timely disbursement of installments from HFI’s
and no demand will be made by us of the HFI’s for the disbursal of installments. To facilitate smooth payments, customers are
required to issue a consent letter. Postdated checks for the installments paid will be returned on receipt of the institutional payment.
In the event that bank financing is declined, your down payment will be returned to you within 120 business days of Soma Sita
Constructions receiving your request in writing. Bank financing is applicable only after permits and permissions have been granted on
the property and the executed sales agreement and purchase of sale with banks has been executed.

16) Will prices change?
We anticipate prices to escalate as Hyderabad is foreseeing a Tremendous Construction Boom and the Land Values are escalating by
the day.

17) Are modifications permitted in the apartments?
Yes, depending on the stage of construction. All modifications will be additional expense. No modifications will be allowed three
months prior to tentative handover date of the home.

18) Will parking be provided to homeowners?
We will provide one car parking space for every owner at a cost. Additional car parking will be offered at additional cost.

19) Is the title of the property clear?
Absolutely. The land is freehold, marketable and free from all encumbrances.

20) Will there be any future legal complications from the previous owners?
No. All the legalities have been thoroughly checked and the titles of the land are crystal-clear.

21) Are any finance facilities available?
We are affiliated with major banks such as ( examples only please modify accordingly ICICI, SBI, ABN Amro) and several others, and
financing up to 70% can be availed when permissions are granted.

22) Are there any other charges?
One-time charges include stamp duty, registration charges, legal fees, external infrastructure charges for electricity, water & sanitary,
and service charges towards property assessment. VAT, service taxes and any other statutory levies as applicable are payable at
actual on demand. And any other charges please specify

23) Do you have sanctions and permissions ?
All permissions & sanctions have been approved for all our projects .All Legalities have also been completed contact us for all the

24) I’m an NRI from the United States. How secure will my townhouse be while I’m away?
Very secure. Our security staff will be aware of your absence and our maintenance staff will assure your peace of mind by maintaining
your home in the same condition – if not better – than if you were there yourself.

25) Do I get taxed by the U.S. government on bringing back profits after paying capital gains in India?
Yes, capital gains are taxed by the U.S. government. Approximately 15% on the capital gains, less whatever tax paid in India. (it
means one can offset tax paid in India against tax payable in the U.S.)

26) What are the ramifications of repatriation when a foreigner buys property in India?(Not of Indian Origin)
One has to obtain permission from Reserve Bank of India for repatriation of sale proceeds and there is no general permission for
repatriation. Reserve Bank of India may give permission to repatriate only the amount invested or sale proceeds less taxes on case
to case basis.

27) On the booking agreement, there are some fees listed(Legal verification RS XXX, Finalization of construction agreement and
agreement to sell RS XXX, …). Is the buyer responsible for these fees and when does this have to be paid?
Yes, the buyer is responsible for the above-mentioned fees, but you can use your own lawyer, if you wish. The legal verification fee
has to be paid during the inspection of documents like Khata, sale deed, encumbrance certificates etc. The Agreement to sell and the
Construction Agreement fees can be paid during the time of possession, when the documents are filed.

28) All the fees mentioned above will exlude some miscellaneous expenses which will be charged on actual.” What are these
miscellaneous expenses and how much are they?
If any other legal documentation’s have to be done based on your requirement or according to the prevailing procedure in the future,
that is when these charges will occur. These miscellaneous charges will be charged according to the type of work.

29) The booking agreement, states “I/we shall pay the costs such as the sales tax, deposit for electricity, water supply charges,
sewerage charges and costs relating to extra works such as mesh, grill etc as may be required for the pROPERTY. I will also bear the
Registration charges/APSEB/HMW&SB charges as applicable at the time of the registration.” Which of the charges are relevant for an
apartment vs. a villa? How much is the sales tax? Is it included in the purchase price?
What are the registration charges and what is the expected amount? All the above-mentioned costs are applicable to apartments as
well as villas. The sales tax is 4% of the total cost of the unit you choose to buy. No, it is not included in the purchase price. The
registration amount is tentative and will follow the prevailing rates per sq. ft. at the time. Currently it is about XXX Rs per square foot.
The other charges for mesh, grill etc. are considered to be the modification amounts. These are not provided by default. This can be
provided to the customer if he wishes for one at OUR prices. The entire modification amount can be finalized at the time of
possession, which is during the final settlement.

30) What is the current brokerage fee for selling a property in India?
The brokerage fee is 2% of the total amount of the unit It sometimes varies from unit to unit.

31) Can we have multiple holders listed on the title (i.e. my brother and I) since this would be a joint property investment?
Yes, you can have multiple holders. Even if it is purchased by cash, you can register the property in both names by following normal

32) On the FAQ, it states that Soma Sita Constructions has clear title for the land/development free of all encumbrances. Can you
provide copies of a clear title? What if there is title dispute later? Is there such a thing as title insurance and who pays for that? Would
the builder indemnify investors if there is a title dispute prior to completion of construction?
Yes, copies of deeds and titles can be provided on request. We have a clear title which can be verified with the concerned
departments (MRO office , HUDA etc.) In the event of a dispute that can’t be resolved, any monies paid by you will be refunded.

33) Why is Soma Sita Constructions involved in Building projects?
We realize the acute need for building satellite communities around India’s major cities. These communities will appeal to executives,
self-employed workers, retiree’s, and NRIs. The location of the community is intended to alter the local village structure as it has
existed for generations. We intend to create jobs, improve agriculture, provide local farmers with guaranteed markets for their
produce, improve living conditions, and most importantly, provide for the elderly and children. We feel it is our responsibility to build
a school for the local children, provide medical facilities for all, and support processing plants for local farmers.

Leave a Reply

Your email address will not be published. Required fields are marked *