Neumec | Buyer’s Guide

Buyer’s Guide

Property Information

If you are interested in any Neumec Property and would like further information on the same you can call us on 022 2204 1999 or visit our site office at Neumec Group 205-208 2nd Floor, Regent Chambers, 208 Block No. III, Backbay Reclamation, Nariman Point Mumbai - 400 021. Our executives will be more than glad to take you through the finer details of the project like its location, amenities, construction details etc.
And if you are willing, then our executives will take you to the site of the project, so that you can experience Big City Living first hand, through one of our sample flats.

Financing Information

Owing to the high standards followed by the Neumec Group, our partners include some of the finest financial institutions in the country. You can get a loan from all the leading housing finance institutions in the country. types of loans.

Types Of Loan:

Home loans :These loans are given when the property purchased is for residential use. The interest paid on these loans is tax deductible under section 80C of the Indian Tax Act (up to INR 150,000). Besides this, the principal is also tax deductible (up to INR 100,000).

In order to get a home loan sanctioned you will need to submit the following documents with the financing institution –

  • Updated bank passbook or a Xerox of the statement of accounts for the last 6 months
  • Age proof: PAN card, Voters ID, Passport and License Xerox of ration card Business profile with details on the nature of business, list of clients, suppliers, staff strength, geographical spread, etc.
  • Xerox of education qualifications certificate and proof of business existence
  • Xerox of last 3 years Income Tax returns Last 3 years profit /loss and balance sheet Processing fees cheque
  • Documents required for applying for a home loan (for employed professionals)
  • Latest salary certificate / slip in original
  • Age proof: PAN card, voters ID, passport, license
  • Xerox of Form no.16 A (TDS Form) from employer. Certificate in original from employer for any other allowances, which are not reflected in salary slip
  • Updated bank pass book / Xerox of statement of accounts for last 6 months
  • Xerox of your company's ID or ration card
  • Passport size photographs of applicant and co-applicant
  • Processing fees cheque

Besides these, the financing institution may ask you for additional documents, depending on their requirements.

Commercial loan : These loans are given for properties purchased for commercial use. The interest is tax deductible (up to INR ---) and principal up to ---

  • Purpose of the commercial property
  • Updated bank passbook or a Xerox of the statement of accounts for the last 6 months
  • Age proof: PAN card, Voters ID, Passport and License Xerox of ration card Business profile with details on the nature of business, list of clients, suppliers, staff strength, geographical spread, etc.
  • Xerox of education qualifications certificate and proof of business existence
  • Xerox of last 3 years Income Tax returns Last 3 years profit /loss and balance sheet Processing fees cheque
  • Documents required for applying for a home loan (for employed professionals)
  • Latest salary certificate / slip in original
  • Age proof: PAN card, voters ID, passport, license
  • Xerox of Form no.16 A (TDS Form) from employer. Certificate in original from employer for any other allowances, which are not reflected in salary slip
  • Updated bank pass book / Xerox of statement of accounts for last 6 months
  • Xerox of your company's ID or ration card
  • Passport size photographs of applicant and co-applicant
  • Processing fees cheque

Besides these, the financing institution may ask you for additional documents, depending on their requirements.

Payment Information

While purchasing a property, the buyer needs to make the following payments.

  • Sale Fee : This fee is to be paid by the buyer of the property to the seller of the property. This always forms the largest chunk of the payment. This cost is mentioned in the Sale agreement and is the official purchase price of the property.
  • Stamp Duty : This fee is to be paid by the buyer of the property to the State Government.
  • Registration fee : This fee is also to be paid by the buyer of the property to the State Government. The Stamp duty + registration fee is usually in the range of 6% to 10% of the property value