Satellite E & F Block Near Suchitra Junction, Shanata Sriram Techpark Gachibowli Hyderabad.
QUERIES REGARDING SHANTA SRIRAM
Q: Who is Shanta Sriram?
A: Shanta Sriram Constructions (P) Ltd., is one of the most experienced construction companies in the premium real estate marketplace.
Q: Who are the promoters of Shanta Sriram?
A: Shanta Sriram has been promoted by Mr. M. Narsaiah and Mr. Lingaiah both qualified and experienced in this field.
Q: How many projects have been completed?
A: As of 2011, Shanta Sriram has completed more than 80 residential and commercial projects in Hyderabad and Secunderabad-Andhra Pradesh in just 17 years.
Q: What are plus points of Shanta Sriram?
A: Excellent reputation & Service, Superb Construction in affordable cost, Modern Facilities and FUTUREs. Litigation-free properties, Timely delivery, Strong core values.
Q: What are the future plans of Shanta Sriram?
A: Shanta sriram is presently building more than 3000 residential apartments, in addition, Villas, Malls and Multiplexes, Hotels etc., in Hyderabad and Secunderabad, Andhra Pradesh.
Q: What is Shanta Sriram Family?
A: All the residents of Shanta Sriram built apartments are stakeholders of the Shanta Sriram Family.
Q: What is the process of booking an apartment?
A: Two simple steps are all it takes for you to own a Shanta Sriram Apartment:
Step – 1: Please Decide and arrive at the specific Apartment of your choice & fill in the application form provided along with the Brochure or you can organize to collect the Application directly from our person. Once you fill up the application form in all respects kindly meet us. We will guide you from then on.
Step – 2: You need to pay a Minimum Booking amount of Rs. 1,00,000/- (Rupees One Lakhs Only) through Cheque / DD / Cash towards the booking of the Apartment along with the fully completed Application Form.
Q: What Next?
A: You will be required to pay 25% of the overall cost of the Apartment within 15 days from the date of Booking against which a Formal letter of allotment will be issued to you.
Q: When do I get a confirmed allotment?
A: Once we receive 25% of the overall cost of the Apartment, an Agreement of Sale will be executed between the Buyer and the Seller.
Q: When do I get a confirmed allotment?
A: Once we receive 25% of the overall cost of the Apartment, an Agreement of Sale will be executed between the Buyer and the Seller.
Q: How do I pay the balance 75% amount and at what intervals?
A: The balance amount of 75% should be paid in a maximum of 6 installments. These installments are to be paid by way of Post dated cheques issued at the time of Allotment and this is a Pre-Condition for allotment. The 6 instalments are linked to the progress of construction as follows as mentioned below.
Installment Work Progress Amount
1st Commencement of Roof Work of the flat 20%
2nd Commencement of Brick Work 20%
3rd Commencement of Flooring work 10%
4th Commencement of fittings 10%
5th At the time Carpentry work starting by you 10%
6th At the time of Possession 5%
Note: If the post dated cheques are dishonoured the booking stands automatically cancelled.
Q: Can I make 100% Down Payment? What would be the benefits that accrue to me if I do so?
A: Yes, you can pay 97.5% of the Apartment value against which you can avail a discount of 5% of the cost of the Apartment. The balance 2.5% will be payable on possession.
Q: Who is responsible for payments?
A: It will purely be the customer’s responsibility to comply with the Housing Finance Institutions norms and ensure timely disbursement to us. If payment is not made within the committed dates, it will be deemed that, the customer is adopting the installment scheme and the Discount Opportunity will not be available.
Note: Discount facility can be availed by the Customers who book the Apartment at Excavation level only and not after any work in progress.
Q: Has the Project been approved by Housing Finance Institutions for purposes of Loan?
A: Yes, all our projects are approved by LIC HFL, SBI, SBH, HDFC and ICICI Bank, etc.,
Q: What is my responsibility for disbursement of installments through HFI’s?
A: It is the purchaser’s responsibility to ensure timely disbursement of installment from HFI’s and no formal / informal demand will be made by us to the HFI’s for the disbursal of installments.

To facilitate smooth payments, customers are required to issue a formal consent letter. Once we receive the institutional payment we will return the PDC’s for the installments paid earlier.

Q: What are the additional amounts I need to pay?
A: In addition to the Apartment costs, you will have to pay HMWSSB and Electricity connection chargers, Car Parking Charges, Maintenances Deposit Fund amount, Registration charges and Service Tax & VAT. The approximate amounts for all these charges will be furnished on request. At all Shanta Sriram Apartments yearly Maintenance charges of Rs.50,000/- will be collected in Advance. This amount has to be handed over to the Builder before possession and in subsequent years it will need to be paid to the Residents Association in advance. Owners are responsible for the payment of all Maintenance charges to the Association.

You will also have to deposit a sum of Rs. 50,000 (PDC) with us towards Extra Works and this sum will be adjusted / closed at the time of handing over of the Apartment. You will have to obtain the formal Bill on all Extra Works from the concerned Engineer before this amount is adjusted / paid for.

Q: What happens if I cancel my apartment Booking?
A: If by any chance you wish to cancel your apartment booking, then 10% of the initial amount will be forfeited towards Cancellation charges and the balance will be refunded.
Q: What are the apartments available for sale in the projects?
A: Please do get in touch with our person and we will provide the latest and updated information regarding the availability of apartments on which floor and of what size.
Q: Is there deferential pricing based on floors or orientation of the apartment?
A: No, there is no differential pricing based on floors or orientation of the apartments.
Q: Are any modifications permitted in the apartment?
A: Good knowledge of customer preferences and an awareness of the latest trends regarding the products have enabled us to select and choose the best specifications and designs for your apartment. Outer elevation, outer structure, bathrooms & kitchen positions shall not be modified. Only minor modifications shall be allowed with the permission from the builder.
Q: When can I start my carpentry Work / Wood Work / False ceiling / POP work in my Apartment?
A: Carpentry Work / Wood Work / False ceiling / POP work in your Apartment can be started only after paying 95% payment of the Apartment and on obtaining formal NOC (No Objection Certificate) from us.
Q: Is there anything I have to ensure before the formal house warming function?
A: Kindly note that all the pending dues have to be fully paid before you plan and organize the formal Housewarming or Grihapravesham function. You will also have to formally inform us about the proposed Grihapravesham function at least 15 days in advance. The complete settlement of account is a pre-requisite for organizing the function.
Q: What about Car Parking space?
A: One Car Parking space can be provided for every apartment on payment of specific parking Cost. Parking will only be allotted on priority basis and on receipt of Full Payment. Additional car parking space will be allotted at additional cost. Additional Parking will be allotted on first cum first serve basis and subject to availability at the time possession / occupation.
Q: What is the procedure to get the possession/ occupation?
A: You must clear all the payments/ dues like flat cost, car parking amount, Water & Electricity charges, extra works, VAT, Service Tax, etc., and cross verify all the receipts with the builder and get the possession and No-Due certificate before 10 days.

And you have to inform us the date of occupation before 15 days to complete all the formalities and all remaining works in the flats.

Q: Whom should I contact for Home Loans?
A: Any one of our marketing team shall help you in this matter.
Q: Who will take care of the maintenance of the Apartment?
A: After the completion of the building, the builder will maintain the apartment for a span of 6 months. The first date of the 6 months will be the date from when the first purchaser occupies an apartment. Only after 6 months a residents association is formed. The expenses incurred during this 6 months period will be charged from the maintenance deposit & the balance amount from the maintenance deposit will be formally handed over to the regular association.
Q: What should I do if I have more questions or need clarifications?
A: You can write or call us to our office address listed below.
Shanta Sriram Constructions (P) Ltd.,
# 501, Oasis Center,
Somajiguda – Begumpet Main Road,
Hyderabad, Andhra Pradesh – 500016.
Phone : +91(40)65656500, +91(40)64646914, +91(40)64646916

Cell :
Prabhakar - 9849955884
Ramu - 9849955885
Mallesh - 9849955886
Dinesh - 9849955887
Q: Which documents are to be verified before purchase of a Flat?
A: Before you purchase a flat, you have to have a title and document search conducted by a competent advocate. You cannot do it yourself. You have to use the services of a competent advocate. It is a professional job to be done with professional assistance.
Q: What is the difference between carpet area, built up area, super built up area, and?
A: Carpet Area: This is the area of the apartment/building which does not include the area of the walls. Built up Area: This includes the area of the walls also Super Built up Area: This includes the built up area along with the area under common spaces such as the lobby, lifts, stairs, etc. This term is therefore only applicable in the case of multi-dwelling units.
Q: Who is liable to pay Stamp Duty-the buyer or the seller?
A: The liability of paying stamp duty is that of the buyer.
Q: In whose name are the stamps required to be purchased?
A: The stamps are required to be purchased in the name of any one of the executors to the Instrument.
Q: What is meant by the market value of the property and is Stamp Duty payable on the market value of the property or on consideration as stated in the agreement?
A: Market value means the price at which a property could be bought in the open market on the date of execution of such instrument. The Stamp Duty is payable on the agreement value of the property or the market value which ever is higher.
Q: Which are the instruments that attract the payment of Stamp Duty?
A: The instruments like Agreement to Sell, Conveyance Deed, Exchange of property, Gift Deed, Partition Deed, Power of Attorney, settlement and Deed and Transfer of lease attract Stamp Duty on market value of the property.
Q: Who is the appropriate authority for knowing the market value of the property?
A: The Sub-Registrar of the area, in whose jurisdiction the property is located, is the appropriate authority for knowing the market value of the property.
Q: What are the risks associated in buying a flat on Power Of Attorney (POA) basis?
A: Purchasing a flat on a POA basis is not permitted under the law of the land.
Q: Is a POA revocable?
A: Yes, a POA can be either revocable or irrevocable, depending on what sort of a POA one has made.
Q: What exactly do we mean by a Free Hold flat? What are the advantages and disadvantages, if any?
A: A freehold property (plot or a flat) is one where there is a whole and sole owner(s), ownership is full and unconditional (within the provisions of the laws of the land) and there is no lesser / lessee involved.
Q: How to convert a POA flat into a Free Hold one?
A: POA cannot be converted into anything. Leasehold properties of DDA in Delhi can be converted to freehold, as per provisions.
Q: How to verify the authenticity of the various documents submitted by the seller of the house, particularly with regard to the possibility that the house has not been sold earlier to a third party?
A: Regarding authenticity of documents, again, you have to take the help of an advocate to verify.
Q: A flat in a Co-op Housing Society is to be gifted. What are the legal formalities? What about stamp duty?
A: Gift of an immovable property is considered as a ‘transfer’ under the provisions of the TOP Act and you have to have the transaction registered through a Gift Deed and pay stamp duty as per provisions of the relevant stamp act depending in which state the property is situated.
Q: A flat in a Co-op Housing Society is to be gifted. What are the legal formalities? What about stamp duty?
A: Gift of an immovable property is considered as a ‘transfer’ under the provisions of the TOP Act and you have to have the transaction registered through a Gift Deed and pay stamp duty as per provisions of the relevant stamp act depending in which state the property is situated.
Q: What are the permissions and papers that one should check with the builder, upon buying a flat in a building under construction, so as to ascertain the authenticity of the builder?
A: When you are buying a flat from a builder in a building under construction, you have to check the following:

1. Approved plan of the building along with the number of floors.
2. Ensure that the floor that you are buying is approved.
3. Check if the land on which the builder is building is his or he has undertaken an agreement with a landlord. If so, check the title of the land ownership with the help of an advocate.
4. Check the building bye-laws as applicable in that area and ensure that the builder is building without any violation of front setback, side setbacks, height, etc.
5. Check specifications given in the agreement of the sales brochure and ensure the builder provides the same specifications on the ground also.
6. Check the reputation of the builder.
7. Ensure that urban land ceiling NOC (if applicable) has been obtained or not.
8. NOC from water and electricity authorities also has to be obtained.
9. NOC from lift authorities.