FAQs 

Can I get a home loan for constructing a house?

Yes, you will get a home loan for constructing a house, just as you would for buying an apartment or a villa. You can apply for a home loan from any leading bank in two ways – either before purchasing the property to construct the house OR after you purchase a plot in your name – depending upon what stage you are in.
You can either get a complete home loan, which includes a plot purchase loan and a construction loan or an independent construction loan, both of which are considered to be home loans and eligible for tax benefits.

Will I get tax benefits on Home loans?

Yes, your home loans are eligible for tax benefits. The principal and the interest components of the loan are eligible for income tax deductions under section 80C and 24 respectively of the Indian Income Tax Act.
The situation of tax benefit gets complicated only when you purchase a plot and do not construct a house in the next 3 years. In other words, if you take a home loan and do not construct the house in 3 years’ time, you will lose the status of a home loan.But otherwise in all other cases constructing a house on a plot that you want will fetch you tax benefits.

What are all the documents required to get the Permit from the local body ?

Primarily the legal approval that is required for constructing a house is the Permit Approval that is taken from the local self government body, which is a Panchayath, Municipality or a Corporation as the case might be. It is decided based on the local body under which the property falls. For getting Permit Approval from the authorised body you have to keep
Land Tax of that assessment year.
Proper Village Sketch of Plot
Ownership Deed
It is a single step process which would involve verification of the plan as well as verification of property by authorities concerned.This is a statutory process by which the building permit is issued and once the building permit is issued you are statutorily allowed to start the construction of the house.

What are the different legal approvals to be obtained besides Permit Approval in order to use the house ?

The process is something like this – once you decide to construct a house, you get a floor plan designed using the services of an Architect/Builder. After the floor plan is finalized, you create technical drawings as per the standards set by the local body. You then apply for a building permit.
After the accomplishment you are supposed to get the Completion Certificate in order to get the House/Building No from the respective body and for getting Electricity connection for domestic use.

Why should I get professional help for construction?

Construction is a combination of multiple service elements. It involves careful planning of the usage of hundreds of building materials and the services provided by multiple individual contractors. The quality of the construction is actually dependent on all these major and minor factors, due to which there has to be a clear-cut planned approach in the usage of these elements.
A good contractor, with his expertise and experience in building homes, takes utmost care in carefully purchasing the construction materials and professionally combines them to create the best possible house that suits your dream and budget.

What are your fees?

Dream Homes Constructions being a turnkey contractor, there are no hidden charges associated with our services. The construction rate or the cost that would be incurred for the construction of a house would be agreed upon at the outset.
At the same stage the additional elements which could be charged outside the standard contractor rate would also be specified to the customer. These additional elements would be taken up only on the instruction of the customer, because of which the company can assure a standard construction rate for the entire building.
Additional charges and fees and extra work would be charged only when there are additional elements which are included on the basis of a customer request.

How long do you normally take to complete the construction of a house?

The normal construction duration of a house of 3000sqft in Kerala is approximately 08-10 months. It may varies with size.
It does not necessarily mean that you would always require 08-10 months to construct the house.
There is lot of buffer period provided, so that the common deterrents like labour problems, material non-availability, rains and strikes which actually effect construction in a site, are factored in.Considering all these factors, it appears that 08 – 10 months is a very good time under which a customer can expect the house construction to be completed.
In specific cases where the customer requires the house to be constructed in a much faster period of time, it is very much possible.

What is meant by Carpet Area?

Carpet area means the usable floor area excluding staircase, lift, escalators, ducts toilets, air conditioning plant room and electrical control room. In calculating carpet area, to deduct the area of wall, 20% of the floor area shall be deducted from the total floor area in each floor.

What is meant by Built Up Area?

Plinth area is also called as built-up area and is the entire area occupied by the building including internal and external walls.

How is Building tax calculated ?

The assessment is made on the basis of the Built up area and fixed by the respective Municipality/Corporation /Panchayat as per their grade. Based on such assessments, all assessees are expected to pay the Building Tax. This can be paid either half yearly or annually.

What is Mutation ( Pokkuvaravu) ?

Mutation is the process of recording the title of a property of a person in the Village Records.
After Purchase of a landed property, copy of the title deed has to be presented to the respective village with application for mutation. The village officer will take steps to record the full details of the land like Survey number, subdivision number, extend of land, full address of the tile holder, etc. in a particular Thandaper number in the Thandaper Register. Only after mutation you will be entitled to pay land tax in respect of that property. If a particular portion of a land is purchased from out of a larger extent in a survey number, then it has to be recorded in the Area register of the Thaluk office. It will take at least 30 days.

What is an Occupancy certificate/Completion Certificate?

Occupancy Certificate or completion certificate is a document which is issued by the local self government authority after completion of the construction of a building . The document is a proof of the construction of the building in compliance with applicable building rules and other laws. The building is assigned a building number only after obtaining the Occupancy certificate . It basically indicates that the building is certified as fit for occupancy, which in turn is a primary document for paying property tax.

What type of building stones are used for construction and is it suitable for our climate?

Solid cement blocks or Laterite Stones used for wall construction and double coat plastering for outside walls that protects the building from the weather elements.