Our developments are relatively small in size and sell while under construction as most customers sign on in the early stages to benefit from lower, off-plan prices. The latter vary depending on the development, location and specifications.
Sales are made on a 'first-to-sign-up' basis i.e. when the client signs the contract document and makes a reasonable down payment, usually 40 percent of the price. This percentage increases as the construction progresses.
Some customers make the final purchase decision after their Goa visit. We send them the contract document and they send us the down-payment thereby ensuring that the home is reserved and its price is frozen at the prevailing rate.
Acron's track record and good reputation instill confidence in our homebuyers and we work hard to repay their trust and surpass their expectations.
EARLY BIRD ADVANTAGES
- Off-plan prices are lower than for possession-ready homes
- The client has a wider selection of homes to choose from
- Payment in easy installments spread over the construction period
- India by the customer over the average 2-year payment period
- Real estate is a safer investment option, given low interest rates on pensions and the unpredictability of stock markets.
EASY PAYMENT TERMS
For example, a purchase price of Rs. 25,50,000 can be paid in 5 installments at intervals of 5 to 6 months as follows: A down-payment of Rs.10,20,000 within 2 weeks of execution of the contract. Thereafter, four installments of Rs. 3,82,500 each every six months over the two years to completion, the last of these amounts being paid on receiving possession of the home. Alternatively, the scheduling of payments can be linked to the completion of key events in the construction process. All amounts are remitted from the client's overseas or local bank account to Acron’s bank account in Bombay.
Indian property-ownership laws vary depending on the customer’s country of origin and visa and residential status. A person of Indian origin (PIO) may purchase property in Goa on a freehold basis. PIO's are now permitted to repatriate the entire purchase price without the compulsory 3-year lock-in period, as was the case before this law was liberalized.
For example, a PIO based in the UK who sends Pounds to India to purchase a villa / apartment has the option of selling the home, if they so wish, at any time and can repatriate the purchase price in Pounds to the UK (Ask us for details of the regulations applicable to persons who are not of Indian origin).
At the contract stage there are no legal fees or other expenses. Most clients deal with us directly i.e. without a legal intermediary and engaging a local solicitor is not a compulsory requirement. The standard contract document signed with all customers is equitable, unambiguous, worded in plain English and is accompanied by a comprehensive dossier of supporting documents relating to the land title, planning approvals, etc. Two prominent, Goa-based solicitors and building societies certify each of our developments.
After possession of the home is handed over, stamp duty is paid on the freehold sale (title) deed that is then registered at the local land registry. These one-time expenses including legal fees would range from approx. Rs. 70,000 to 85,000. The management of the completed development is overseen by Acron and eventually handed over to an association of the residents. The service charges (approx. Rs. 30,000 annually, for a 2-bedroom apt.), cover the homeowner’s proportionate share of the expenditure on security, routine maintenance, salaries of gardeners, pool attendant and estate manager, insurance, property taxes / rates, water supply and common electricity. Each resident pays their individual electricity, telephone and cable TV and for contents-insurance expenses (a total of approx. Rs. 20,000 a year).