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As you buy a new home, these questions will answer all common queries about buying and owing a property in India. Use this guide to acquaint yourself with rules, laws and important information.

Q1. What is the difference between Built-Up Area, Super Built-Up Area, and Carpet Area?

     Carpet Area : This is the area of the apartment that does not include the area of the walls i. e. the area

     of the apartment that a carpet can cover.

     Built-Up Area : This is the area of the apartment that includes the area covered by the walls.

     Super Built-Up Area : This includes the built-up areas such as the lobby, lifts, stairs etc. This term is

     therefore only applicable for multi-dwelling units, such as flat complexes.

Q2. Does a foreign citizen of non-Indian origin require permission from the Reserve Bank of India (RBI) for       acquisition of immovable property?

Q3. What is the definition of Non Resident Indian (NRI)?

Q4. Why is it considered necessary to register a property? What is the purpose of registration?

Q5. I have a flat which I want to sell and buy a new flat bigger in area. What are my tax implications with      regard to capital gains?

Q6. Are there any new provisions?