FAQ,s

  • BOOKING
  • PAYMENTS
  • BANK LOAN
  • TAXES
  • ALLOTMENT
  • ADDITIONAL CHARGES
  • ADDITION / DELETION OF CO-APPLICANT
  • DUPLICATE RECEIPT
  • CHEQUE BOUNCE
  • POSSESSION

Q. 1 Who can purchase immovable property in India?

Ans. Under the general permission available, the following categories can purchase immovable property in India:
1) Non-Resident Indian (NRI)
2) Person of India Origin (PIO)

Q. 2 If I am not available to sign the documents can I appoint someone on my behalf?

Ans. Yes, if you are not available to sign the documents than you can appoint someone on your behalf through GPA (General Power of Attorney).

Q. 3 What are the documents required for the booking?

Ans. You need to submit following documents at the time of booking:

  1. Booking / Application form (duly signed by all applicants)
  2. Copy of PAN CARD (self-attested)
  3. Copy of ID Proof (self-attested)
  4. Copy of Residence Proof (self-attested)
  5. Passport size Photograph (all applicants)

Q. 4 Which are the leading banks available for home loan?

Ans. Customer can avail home Loan facility from the following banks.

Dreamville : HDFC, AXIS, ICICI, IDBI, Corporation Bank, PNBHFL, Allahabad Bank, Bank of Baroda, LIC, DHFL, TATA Housing Finance, Magma Housing Finance.

Fresco : HDFC, AXIS, ICICI, IDBI, Corporation Bank, PNBHFL, DHFL, TATA Housing Finance, Magma Housing Finance, LIC Housing.

Q. 5 Can I see a copy of necessary approvals from authority for my satisfaction?

Ans. Yes, The drawing and plans of the Project has been displayed at the site office of the Project & at the registered / corporate office of the Company.

Q. 6 What is the minimum amount to be paid by the customer to book a apartment/property?

Ans. Customer has to pay minimum 10% of unit cost excluding IFMS to book a apartment/property.

Q. 7 What is the process to change the communication address/ phone or email address in company's record?

Ans. Customer has the obligation to inform the Company by Registered A/D letter about subsequent change(s) in the address/Email/Phone along with the residence proof for the same.

Q. 1 When can I get the receipt?

Ans. Whenever customer makes the payment they can take receipt of the payment from our corporate office. We do not issue receipt for PDC cheques.

Q. 2 What is my Payment/Demand schedule?

Ans. Kindly refer to your allotment letter for payment/demand schedule. You can also access the Customer care Portal to see your payment/demand schedule. However if you are unable to access the customer care portal, on special request of customer we can send the same through Email/Courier/Registered Post.

Q. 3 What are the mode of payment available?

Ans. Customer can make payment through Cheque/demand draft /RTGS/NEFT as per their opted payment plan. All payments should be payable at New Delhi and no out station cheques will be accepted. (Pls. mention your ref. property details, name & Phone no. on the reverse of Cheque/ Demand Draft)

Q. 4 What is the company policy on Failure/Delay in Payment ?

Ans. Timely payment as indicated in the Payment Plan is the ESSENCE of the Allotment Letter/Buyers Agreement. It will be obligatory on the part of the customer to make the payment on or before the due dates. If any instalments as per payment schedule is not paid within due date, the Company shall be entitled to charge late payment charges as per the terms & conditions mentioned in the allotment letter. Further, if the payment remains in arrears for more than 90 days, the allotment shall automatically stand cancelled at the sole discretion of the Company without any prior intimation/notice to the customer and the Allottee will cease to have any lien on the Unit. However, the Company may, at its sole discretion, condone the delay in payment exceeding 90 days by charging late/Delay payment charges as per the terms & conditions mentioned in the allotment letter along with restoration charges as may be fixed by the Company from time to time and restore the Allotment in case the Allotted Unit has not been allotted to someone else.

Q. 1 What is the minimum contribution I have to pay to get my loan disbursed?

Ans. Customer contribution at the time of disbursement depends upon the amount sanctioned by the bank and demand raised by the builder. As per the RBI guideline minimum of 15% of Unit Cost is to be paid by the customer up front to get the loan disbursed.

Q. 2 Can I avail loan if I am a Non Resident Indian?

Ans. Yes, a Non Resident Indian can avail loan facility if he wants to buy a property.

Q. 3 What are the documents required to avail home loan?

Ans. Documents required for taking home loan: (Check list enclosed)

  1. 2 years ITR
  2. 6-months' Salary Slip
  3. 6-months Bank statement
  4. Residence Proof/ ID proof / PAN Card

Q. 4 Who can avail loan from Bank?

Ans. Anyone who is salaried / professional / self ? employed can avail loan from bank depending upon the profile of the individual / type of business / residential location / ITR.

Q. 5. Can I get Home loan other than your approved banks?

Ans. As mentioned above, timely payment is essence of the Allotment /contract however you may avail loan from other than our approved banks but keeping in mind that in any case in time payment as per the schedule should be the responsibility of the customer.

Q. 1 What are the prevailing rates of different property taxes to be paid?

Ans. The buyer needs to pay the following taxes on Apartment/property:

  1. TDS or tax deduction at source on amount exceeding Rs 50 lakhs for the purchase of immovable property excluding agricultural land. The TDS must be submitted in the name of the seller.
  2. Service Tax is applicable if the property is being purchased from the builder who conceived and constructed the project before offering possession to the buyer. If a ready-to-use property is purchased from the seller then service tax is not applicable.
  3. Property/ House tax is applicable from the date of execution of Property documents in favor of the owner.

Q. 2 What is TDS or tax deduction at source at property?

Ans. As per Section 194-IA as introduced in the Finance Budget ,2013 applicable from 1st June,2013 states that "Any person, being a transferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of immovable property (other than agricultural land), shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to one percent of such sum as income tax thereon." It further states that"No deduction shall be made where the consideration for the transfer of an immovable property is less than fifty lakh rupees".


Followings are the responsibilities on buyers of immovable property.

  1. Any payments (Booking amount/installment or any other charges) to be paid or paid on or after 1st June,2013 to the Builder (Transferor) buyer require to pay 1% of such amount as TDS to the government and 99% of such amount to the Builder.
  2. Customer submits a copy of TDS challan/ TDS Certificate to the builder within 7 days of such payment to get the credit ofTDS amount.
  3. TDS to be deposit by customer on the builder PAN no.
  4. All the detail as required in TDS Challan should be correctly filled by customer.
  5. If customer default in compliance the provision, he/she is liable to pay interest and penalty as the case may be to the government.

Followings are the responsibilities on builders (Transferor) of immovable property.

  1. Provide the copy of PAN No. To the transferee (buyer) for verification.
  2. To give the credit of 1% TDS amount to the customers on the basis of TDS challan / TDS certificate.

Please find the download link of TDS form - https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

Q. 3 How to calculate TDS on property?

Ans. In terms of calculating the cost on which TDS needs to be calculated, everything paid to the seller in consideration for property is considered i.e.

  1. Basic cost
  2. IDC, EDC, PLC
  3. Parking
  4. Fire-fighting equipment
  5. Electrification, wiring expenses etc.

Anything paid to the third parties or other authorities are excluded

  1. Stamp duty
  2. Registration fees
  3. Any payments to government authorities.
  4. Taxes charged by the builder

Q 4. Why company is still charging service tax on under construction property?

Ans. The service tax department has not issued any notification regarding the same. Refunds if any will have to be claimed from the department itself.

Q. 1 When can I get the allotment letter?

Ans. Customer needs to submit minimum 10% of Unit Cost along with required document (KYC) of all applicants (Residence Proof / PAN CARD/ ID Proof) to get the allotment.

Q. 2 What is the procedure to get the duplicate allotment letter in case if I misplace the original?

Ans. In case the original Allotment letter is misplaced or lost then customer has to give following documents for issue of duplicate allotment:-

  1. Application/request for loss of allotment
  2. F.I.R. (First Information Report) for loss of original allotment.
  3. Affidavit for loss of allotment (should be on Rs.10/- stamp paper)
  4. Indemnity bond. (should be on Rs.50/- stamp paper)

Q. 3 Why the area of Apartment has increased?

Ans. As per the terms and conditions of the Allotment Letter an increases in the saleable area of the Apartment is possible during the construction. For the betterment of the flat/society the saleable area of the flat has been changed due to increase in area of the Apartment from the once shown in the initial brochure and approved map.

Q. 4 What are the criteria of Penalty in case of delay in possession?

Ans. If there is delay in offer of possession of unit as mentioned in Allotment Letter beyond six months from the proposed date of possession due to any reason(S) which were within the control of the company, the company will pay to the Allottee(s) delayed possession charges @Rs. 5/Sq. Ft per month. Provided the Allottee has paid all his payments / installments in time.

Q. 1 Can I take additional parking and what is the procedure?

Ans. Yes, the customer can take additional Parking by givinge a written request, if parking is available then he can get the same by paying additional cost as per the prevailing price along with service tax.

Q. 2 Can I take additional Power Backup and what is the procedure?

Ans. Yes, Incase of customer wants to take additional power back up than it shall be charged extra as applicable payable at the time of possession subject to availability. Service Tax as applicable shall be charges extra. Maximum limit of power back-up shall be upto 5 KVA in all types / category of Units.

FRESCO : Rs. 25000/Kva
DREAMVILLE : Rs. 22000/Kva

Q. 3 Can I take additional Electricity load and what is the procedure?

Ans. Yes, the customer can opt for additional electricity load upto a maximum of 10 KVA The charges for electricity connection shall be Rs. 10,000/- per KVA (it may vary project to project). Service Tax as applicable shall be charges extra. You can give written request along with the Cheque/Draft for additional electricity load. Electricity Connection up to the below mentioned load is mandatory:

FRESCO LOAD

  1. 2 BHK(1110 1250) : 5KVA
  2. 3 BHK( 1560, 1690, 1835) : 7KVA
  3. 4 BHK (2275) : 10KVA
DREAMVILLE LOAD
  1. 2BHK (920 1035): 5KVA
  2. 3BHK (1235) : 6 KVA
  3. 3BHK (1340) : 7 KVA
  4. 3 BHK (1705) : 8 KVA

Q. 1 What is the procedure to add or delete co-applicant in the apartment/ property?

Ans. In case existing applicants want to add or delete the name of the co-applicants following documents are requird:

  1. Request from existing applicants for addition/deletion of co-applicant.
  2. Affidavit requires for such addition/ deletion of co-applicant and should be signed by existing applicants.
  3. In case of addition of name KYC documents required for new applicant along with signing of new application form.

Note: if the home loan is availed by the customer on the property than customer has to give written consent from the bank for such change in records. And applicable charges will be levied

Q. 1 What is the procedure to get the duplicate receipt?

Ans. In case the original receipts are misplaced or lost then customer has to give following documents for issue of duplicate receipt:-

  1. Application/request for loss of receipt.
  2. Affidavit for loss of receipts (should be on Rs.10/- stamp paper)
  3. 3 Indemnity bond. (should be on Rs.50/- stamp paper)

Q. 1 In case of Cheque bounces what are the charges?

Ans. If the Cheque gets bounce then a charge of Rs.500/- per bounce per Cheque is applicable.

Q. 1 What is Farmers Compensation and why the same is payable by the Allottee(s)?

Ans. In term of the directions of the Hon'ble Allahabad High Court also ratified by the Hon'ble Supreme Court Farmers Compensation is an amount payable to the GNIDA thereby giving enhanced compensation to the farmers on account of acquisition of their land. The said amount is payable to GNIDA, in view of the terms and condition of the Lease Deed executed by GNIDA in favor of the Company and the same has been mutatis mutandis applicable to the Allottee(s) in terms of their respective Allotment Letter. Further in terms of the Allotment Letter duly executed between the Company and the Allottee(s), such and like such charges have been agreed to be borne by the buyers. Hence the said amount is payable to GNIDA by the Allottee(s).

Q. 2 Why the Maintenance Charges have been increased from Rs. 1.25 Per Sq. Ft to Rs. 1.85 per Sq. Ft.?

Ans. The charges of maintenance of common area and services and its scope have been clearly mentioned in Allotment Letter. The said charges were fixed long time back keeping in view the rates prevailing at such point in time. The costing of Rs. 1.85 Per Sq. Ft has been fixed keeping in view the cost prevailing as on date. With a view to maintain complete transparency all contract / records with various agencies pertaining to maintenance of common area and services shall be available at the Maintenance Office of the Complex.

Q. 3 Why Allottee(s) can't get Electricity Connection Load less than what is being offered by the Company?

Ans. The Electricity Connection Load is structured / planned in advance and the distribution equipment's, which are of permanent nature, are accordingly installed keeping in view the present and future requirement of the Complex. Therefore, the Electricity Connection Load cannot cannot be varied (reduced and or increased) at individual requests. The Company has fixed the Electricity Connection Load keeping in view the smooth functioning and requirements both present and future of the Apartment Owners for the purposes of running electrical equipment's simultaneously including AC, Refrigerator, Microwave, washing machine etc.

Q. 4 What is Pre-Paid Metering System and how its functions?

Ans. That as part of green initiative and also to boost transparency, Company has installed pre-paid meters for each Apartment, which are required to be recharged by the Allottee(s) from time to time. The said pre-paid meter shall record the electricity consumption, the maintenance charges being charged from the Allottee, Service Tax so charged on the aforesaid services as applicable from time to time and also the balance available from the amount recharged by the Allottee(s) on regular basis.

The Allottee(s) can generate its own invoice by downloading the APP which can run on both IOS and Android Platforms and also take screen shot and /or download the monthly invoices of their respective Apartment at any time. Alternatively, the Allottee(s) can seek a hard copy of its monthly invoice from the office of the Maintenance Agency if so required.

The said invoice shall contain the details of the amount charged under each head and also the tax component.

Q. 5 When Allottee(s) will get physical possession of apartment?

Ans. The Allottee(s) will be get physical possession of the Apartment only after clearing all the dues, expiry of 90 days fit-out-period and the registration of sub-lease deed which shall be executed after obtaining Completion Certificate from the concerned department.

Q. 6 When I have to clear my dues?

Ans. Customer has to clear their dues as soon as they receive the letter for offer of possession to start the process of finishing on first come first serve basis.

Q. 7 How much time it will take to complete my flat after making payments?

Ans. After clearing all dues fit-out will be done on first come first serve basis it may take around 45-60 days minimum from the date of payment.

Q. 8 What do you mean by fit out period?

Ans. The fit out period is to facilitate you to communicate the exact date by which you or any of your duly appointed attorneys will take physical possession of the unit after complying with necessary formalities. Please note that the fit out period of one quarter (Three months) will commence from the date of offer of possession to maintain the freshness & cleanliness of the flat. After payment Company will do the installation of sanitary ware kitchen sink, wooden flooring, hard ware accessories, final touch of paint etc. in order to handover the apartment as per the satisfaction of our valued customers. Fit ?out will be done on first come first serve basis.

Q. 9 What are the documents customer need to sign before taking possession?

Ans. Customer needs to sign following documents before possession:-

  1. Handing over / taking over
  2. Undertaking
  3. Parking allotment letter
  4. Maintenance Agreement
  5. Power & Electricity affidavit
  6. Inspection Check List of apartment.
  7. Store allotment (if any)

Q. 10 What are the charges for registration of documents/sub lease deed?

Ans. Registry/ Stamp duty charges are calculated on the value as per the circle rate or the allotment rate whichever is higher of the area. 

Note: Circle rate may vary area to area.

Q. 11 What is the procedure for procurement of stamp papers?

Ans. As soon as we get the demand draft in favor of sub registrar we will send the required information of all the applicants to our lawyer along with the draft for procurement of stamp papers in the name of customer. Further, after receiving stamp papers we will organize the registration of documents/sub lease deed for the apartment. Generally it takes 7 to 10 working days to procure the stamp papers.

Q. 12 When can I get my apartment/flat registered on my name and its procedure?

Ans. After clearing all the dues to the company pertaining to the flat customer need to obtain NOC from accounts department and required to complete all documents formalities including signing of inspection check list and will pay the Stamp duty charges. After receiving the stamp papers within 15 working days registration of documents / sub lease deed may be done.

Q. 13 What all documents are required at the time of registration of documents/sub-lease deed?

Ans. Customer needs to carry following documents at the time of registration of documents / sub-lease deed:-

  1. Procurement of Stamp papers in the name of customer.
  2. Four Passport size Photo of all applicants
  3. Copy of Pan Card of all applicants
  4. ID Proof of all applicants
  5. Residence Proof of all applicants
  6. One Witness from customer side (doc. Req. for witness- Photo/Pan Card/ID & Address Proof).

Q. 14 Can I assign someone on my behalf to the registry?

Ans. Yes, if you are not available at the time of Registry than you can appoint someone on your behalf through GPA (General Power of Attorney). That should be registered from the sub registrar.

Q. 15 Is it possible to change the flooring of my flat or any other minor alterations?

Ans. Usually in large size project where we are making huge number of flats the planning and procurement department do purchasing of material in bulk and in advance which needs to be installed in the flat so at this point or at any point it is difficult for us to take any kind of request as it delay the process of possession. So no request for alterations shall be entertained.

Q. 16 What is Annual Maintenance Charges (AMC) and its scope?

Ans. Annual Maintenance Charges (AMC) ? means the charges to be paid by the applicant(s) for the maintenance and upkeep of the society as stipulated / decided by the Company or to the Maintenance Agency @ prescribed rates on the super built-up area of the Said Unit, payable on monthly basis. 
Scope of Maintenance: - The complex and its common facilities are proposed to be managed by the facilities management agency nominated by the company initially for a period of 1 year and thereafter for a renewed/extended period till the same is handed over to any local body, society or the arrangement is terminated by the company. AMC charges, club maintenance charges and any other kind of maintenance charges can be seen in the specific allotment letter.

Q. 17 From what date maintenance charges shall be applicable?

Ans. Maintenance charges shall be applicable after 60 days from letter for offer of possession for existing buyers. And for new buyers it will be 60 days from the date of booking of their flats.

Q. 18 What is Sinking Fund?

Ans. Sinking Fund is a contingency or emergency fund, which may be used at the time of any emergency like fault in big equipment's, which need immediate replacement or repair. In addition to monthly maintenance Sinking Fund will be charged for replacement, refurnishing, major repairs of the plants and equipment's etc., installed in the Complex or towards any unforeseen contingency in future. It's a one-time Charge payable at the time of possession.

Q. 19. What is IFMS?

Ans. Interest Free Maintenance Security, it's a onetime security it means if any resident will not pay maintenance or any other charges that dues shall be deducted from this IFMS Balance of IFMS shall be handed over to the R.W.A. of the society at the time of handing over.

Q. 20. Is there any provision of visitor/guest car parking?

Ans. Provision of visitor /guest car parking is provided outside the society premises at owner's risk.

Q. 21 Why club usage charges are not part of maintenance charge?

Ans. As per the terms and conditions of the Allotment Letter, the scope of maintenance does not cover the maintenance of club. Further keeping in mind the smooth functioning of the club, a separate specialized agency has been appointed to provide hassle free services and thus the same is being charged separately.

Q.22 Why is company charging PNG Gas Infrastructure Charges?

Ans. The PNG Gas Connection was not part of initial offering. However, keeping in view the betterment, safety and security of our Residents the Complex has been installed with a state of art system including laying of underground pipes for PNG involving RCC duct, Sand Filling, Covering Slab, etc. so that green cover could also be maintained over it and the same could enhances the beauty of the Complex.

For the above Company has incurred additional expenditure on PNG Infrastructure Development. Hence, Company is demanding the said sum of Rs. 3,000/- as cost of the PNG Infrastructure Development incurred by the Company which has been put at place only for the betterment, safety and security of our Residents and the entire complex.

Q. 23 What are the criteria of Penalty in case of delay in possession?

Ans. If there is delay in offer of possession of unit as mentioned in Allotment Letter beyond six months from the proposed date of possession due to any reason(S) which were within the control of the company, the company will pay to the Allottee(s) delayed possession charges @Rs. 5/Sq. Ft per month. Provided the Allottee has paid all his payments / installments in time.

Q. 24 Why my Car Parking is far from my tower and what is the mechanism to allot the car parking?

The company has allotted each and every car parking in the best possible way to provide the residents minimum distance from their respective flats. Please try and understand providing each and every parking just under the particular tower is practically not possible as there are limited slots available near to the tower and there are multiple types of parking in the project.

As in phase 1, most of the residents opted for open car parking & the company has allotted the car parking space in sequence /series. Due to which some parking slots have gone little far from the tower. Despite of best efforts of the company to provide opted car parking space nearest to the particular towers.

Q. 25 What is the mechanism of Registry?

Ans. After clearing full & final payment, the fit out period of 90 days will start. An intimation by mail or sms will be sent to you for paying online stamp duty and signing of requisite paper formalities to be executed at the corporate office. After paying the stamp duty online, the customer has to provide the UTR No. of online payment over the Portal or through e-mail to the lawyer. We will provide the contact details of lawyer who would be assisting you in getting your sub-lease registered as per your convenience.

Q. 26 What is the status of Completion Certificate?

Ans. Exotica have already received the completion certificate of Phase I (Tower No. 4, 5, 6, 7, 8, 9 & 10) and Phase II (Tower No. 3, 11, 12 & 13). The completion of Phase III (Tower No. 1 & 2) has already applied.

Note:- For more details regarding any other points please refer to your allotment letter.
Disclaimer: All the above information provided/sought is for indicative purposes. And only Terms & Conditions contained in specific allotment letter shall be binding on both parties. The company has no control over the third party information and cannot and will not censor any information to be found on the different websites, associated online presence or elsewhere. As such the company will not be held responsible for information provided by third parties.