Modi builders have helped more than 10,000 people find their dream homes through the efforts of more than 600 of our dedicated employees. Our commitment towards assisting people in their home buying process has been encouraged with generous investments from investors
2. Who should I contact in case I face any issues?
We have a dedicated customer care service team, which is available at your service seven days a week from 9:30 am to 7:30 pm. You can call them on +91 7677120120 or mail customer service at customercare@modibuilders.com
3. How can I book a property through modi builders ?
To buy a property through modibuilders.com , you need to follow the following steps:
• Check out our website • Select the property that meets your criteria and drop an enquiry for the same. • Go on a site visit of the selected property with our property experts. • Close the deal- We handle all legal paperwork, arrange home loans (if needed) and manage all documentation work with the builder and the bank.
4.How soon would I receive a call from you after placing my requirement?
You would receive a call back from us within 10-15 minutes of placing your enquiry with us, provided you have posted your requirements between 9am and 10 pm. Otherwise, we would be reaching you the next day.
5. What kind of properties are listed on your website?
We list a range of domestic real estate parcels including apartments, estates and plots through our web and mobile platform. Our rosters include everything from new, resale, under construction and forthcoming parcels.
Buyers Corner
1. How many properties can I own?
You can own as many properties as you want.
2. What are the taxes that I need to pay before buying a property
The buyer needs to pay the following levies
• TDS or duty deduction at source on quantum exceeding Rs 50 lakhs for the purchase of property banning agrarian land. • Stamp duty • Service duty- Applicable if the property is being bought from the builder who conceived and constructed the design before offering possession to the buyer. However, service duty isn't applicable, If a ready to move in property is bought from the dealer. • Value Added Tax( Hand basket)- If applicable in the concerned state.
3. What should be the language of the registration document?
The language of the enrollment document must be the bone that's generally used in your quarter. According to Section 19 of the Indian Registration Act, the Registering Officer or the register has the power to decline enrollment of your document if it's presented in a language which isn't generally used in the quarter unless it's accompanied with a true restatement of the language in use.
4. Can I authorize someone else to register my property by granting him Power of Attorney?
Yes, you can execute Special Power Of Attorney to get your property registered by someone differently.
5. How could I verify that the documents shown to me by the seller are genuine?
Systems blessings can be vindicated from the pot or the sanctioning authority's office Power documents can be verified from the Sub Registrar's office where they're registered Share instrument related to societies can be vindicated from the concerned Society itself
6. How can I register my property?
Registration of a property includes necessary stamping and paying of enrollment charges for a trade deed and getting it recorded at the sub-registrar's office of the concerned jurisdictional area. However, getting it registered quantities to act of legal vehicle, If a property is bought from a inventor directly. In case the bought property is an alternate or third sale, it involves a properly stamped and registered transfer deed. Currently, the property enrollment process is motorized in utmost countries .
7. What documents would I need at the time of possession?
Original copies of the chain of title agreements and Building Plan approvals • Original registration and stamp duty receipts • Possession Letter • Original share certificate (In case of societies) • Proof of payment of all dues like maintenance charges, electricity bills, phone, water and property taxes up to the date of handing possession • NOC from the Society or other concerned body confirming no objection to the transfer
8. What documents are required for registration of a new apartment/plot?
Sale Deed, No Objection Certificate (NOC) from builder, NOC from banks, Building Plan approvals, Completion Certificate, PAN Card and Photographs.
9. What documents are needed for registration of an independent house?
Allotment papers of the plot, Building Plan blessings, Transfer Deed( in case of multiple possessors), trade Deed, visage Card and Photos.
10. What documents should I check before buying a new property?
Sale Deed • Title Deed • Approved Building plans • Completion Certificate ( Newly Constructed) • Commencement Certificate( Under-construction property) • Conversion Certificate( If agricultural land is covered to non-agricultural) • Encumbrance Certificate • Latest Tax Receipts • Occupancy Certificate
11. How do banks evaluate the property for insurance?
Property valuation is done by multiplying the built up area of the property with the cost of construction per square feet. This is the usual method followed by most banks.
12. What is generally the tenure of a home insurance?
It varies from bank to bank. Generally, most policies cover a period of five years.
Home Loan
1. Decoding Difference Between Pre-Approved & Pre-Qualified Home Loans.
Numerous implicit homebuyers face the challenge of not having ample finances to buy a property of their choice. While a maturity is dependent on loans, it isn't necessary that a homebuyer would be sanctioned a loan quantum of their choice. Hence, homebuyers are suggested to get pre-approved home loans. Still, at times, pre-approved and pre-qualified, are two similar terms that are confusing for numerous.
Here’s a lowdown on how the two are different:
What’s pre-qualified?
Being pre-qualified for a home loan is one of the initial steps a homebuyer takes. In this process, the homebuyer is to provide all the details that show they are qualified to get a home loan of a certain amount. Here, a homebuyer has to provide their financial status, including income, debt and assets. Based on this information, the banks inform you about the amount of loan you are qualified to get. In case you want to know your qualifications, you could visit the bank’s website or the bank branch near you. For this the bank doesn’t generally charge anything nor requires your credit report. It only needs a conversation between you and the bank representative where you could share your home-buying goal and they could suggest to you the amount and type of loan that would suit you.
What is pre-approved?
Pre-approved loans are fully different from being pre-qualified. It's the coming step you take after you have pre-qualified. During the pre-approved process, you officially apply for a loan through an operation, pay for the operation, submit all the needed documents that show your fiscal standing and also your credit standing.
During this process, the lender could tell you the quantum of loan you could get and the interest rate. In some situations, the lender can also lock the specific interest rate.
The loan quantum suggested by the lender could help you look for a property that fits your budget for both down payment as well as home loan.
The advantage of getting both allows you to be prepared indeed before you start looking for a property. You would know what kind of property you could go to, limiting your options. Also, when making an offer, you would be at an advantage when compared to other implicit buyers if you're pre-qualified and pre-approved.
2. How instantly can a home loan be taken?
Most lenders would consider any property bought during the last 3-6 months as a regular home loan operation. You would be eligible for the same rates and income duty benefits as any other home loan. Still, if you delay and the property purchase becomes further than 6 months old it'll be treated as Loan against Property. The rates for the same are advanced and there would be no duty benefits as well.
3. Can a single woman get a loan?
Yes, a single woman can get a loan. Till a many times back, banks dithered to give loans to single women stewing loss of income after marriage. With double income families getting the norm rather than exception, lenders now are advancing to single women as well. numerous lenders also have special schemes for women offering them a reduction up to 0.25
4. Can I get two home loans against two different properties?
Yes, you can have as many loans against different properties. The only criteria being that you should be able to repay all the EMIs every month.
5. What is a fixed rate home loan? When should one opt for a fixed rate home loan?
Fixed rate home loan is one where the interest rate on home loans charged by the lender is constant over the term of the loan. It's judicious to go in for a fixed rate only if you feel that the rate of interest prevailing in the request has touched gemstone bottom and the rates can only move overhead. Then are the rearmost offers on a 10 time fixed rate home loan and 20 time fixed rate home loan from the leading banks and casing finance companies in India.
6. Can the Fixed Rate of Interest change during the loan repayment?
The Fixed Rate of Interest immaculately remains fixed over the term of the loan. This rate doesn't change after the final disbursement has been made. It's immaculately suited for situations where you anticipate the rates of interest to go up in the future and this change in the rates doesn't affect you negatively. In cases where the disbursement is spread out over a period of time and the rates might have changed in the interim. The rate of interest would remain fixed at the final weighted average rate at which the loan was expended. Currently, numerous lenders are reserving the option of changing the rate on a fixed rate home loan after 3 or 5 times. So please read the fine print before you subscribe up for a fixed rate home loan.
7. What is a down payment?
Generally, banking finance institutions pay around 75 to 85 percent of the cost of the property bought. The remaining 20 of the quantum is paid up front, which is popularly known as the down payment.
