Frequently Asked Questions

Yes. Our Project Royal Nest by TBPL (PB Homes)with 4BHK &3BHK luxury villas is located in Muthuvara. Muthuvara is in state high way and one of the most important location which is surrounded by all commercial activities and near to Sobha City, just 7 KMs to Thrissur town.

The common amenities offered in our projects in Thrissur are swimming pool, Multipurpose hall, Children’s play area, Centralized gas supply, 24-hr security / water / power, Rainwater harvesting, Landscaped garden, Car charging provision, Solar power for lights in common areas etc.

TBPL RIO GRANDE at Poothole and TBPL LOIRE at Mannuthy are our under-construction flats in Thrissur.

The following are the documents that are mandatory for a clear title of the project.

• - Title Deed
• - Encumbrance Certificate
• - Possession Certificate
• - Tax Paid Receipt
• - Building Permit and License Drawing
• - Initial NOC from Fire & Rescue Department
• - Consent to Establish from Pollution Control Board Construction

UDS is the share of each flat owner in an apartment complex in the ratio of individual saleable area with total saleable area of the apartment complex.

As per Section 80C of the Income Tax Act, you are allowed separate deductions on principal and interest amount of home loan amount, along with other entities like ULIP, PF, PPF, ELSS, and NSC’s. In case of principal, you can claim deduction up to Rs 1.5 lakhs while in case of interest, it is Rs 2 lakhs. The amount of stamp duty and registration is also eligible for tax deduction. It is important to note that the tax rebate can only be claimed for the year in which the construction is completed. I have two housing loans on two different properties. Can I get a tax rebate for both the loans?
Yes, you can get the benefit for both loans. However, the total amount that you will be entitled to will not exceed Rs 1,50,000 for both the homes.

In fixed interest rate, the interest remains constant throughout the loan period irrespective of the changes in market conditions while in the floating interest rate, the interest can decrease or increase depending on market fluctuations.

Property is considered a capital asset and Capital Gains Tax is levied on the gains arising from the sale of the property. Such gains are calculated by adjusting the inflation rate index, transfer and renovation charges. This can be well explained by a tax consultant.

If the house is held for less than three years prior to its sale, it is termed as a short-term capital asset and any gain arising from the sale is treated as a short-term Capital Gain. There are no tax exemptions for short-term Capital Gains and one needs to pay it according to the applicable tax slab. However, if the property is sold after holding it for more than three years, it is treated as a long-term capital asset and the gain arising from it is called the long-term Capital Gain. Such gains attract a flat exemption rate of 20%.

There are a few exemptions available for long-term Capital Gains if you: Buy or construct a new house. If you build a new house or buy one from the money you receive from selling a property, you are exempted from paying the tax on Capital Gains. However, the new purchase should be done either one year before or within two years of sale and the construction should be completed within three years from the date of transfer. The new property bought or constructed should not be sold within three years from the date of its purchase or date of completion of construction. Capital Gain Account Scheme – Through the Capital Gain Account Scheme (CGAS), you can save the received money in designated banks. CGAS helps you in buying time to look for suitable investments, as it serves to inform the Income Tax department that you plan to invest the money received; but at a later date. Invest in Bonds- You can also invest in financial assets or bonds to save tax. Such bonds are issued by the Rural Electrification Corporation and the National Highway Authority of India and should be brought within six months of transferring the property. You can invest a maximum of Rs 50 lakhs through these bonds.

Yes. From 1 June 2013, when a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural land) costing Rs 50 lakhs or more, he has to deduct tax at source (TDS) when he pays the seller. This has been laid out in Section 194-IA of the Income Tax Act.

Yes, Foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India.

They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Bombay within a period of 90 days from the date of puchase of Immovable property.

The immovable property can be purchased either by executing a Power of Attorney on the stamp paper before the proper authorities in foreign countries. The stamp paper bought in India cannot be used. Is there any requirement of permission from authorities for purchase of immovable property in India. There is no requirement of permission from any authorities to purchase a property in India.

The payment can be remitted through foreign exchange or from NRE account through normal banking practices.

A declaration with the Central Office of Reserve Bank at Bombay in form IPI 7 is to be submitted within a period of 90 days from the date of purchase of Immovable property.

The immovable property purchased by NRI can be used for personal use or rented out.

The rented income should be deposited in NRI account of the purchaser.