Strategically located on prominent junction of Gujarat's widest
road and urban corridor of Ahmedabad - Koba - Gandhinagar Hrudhyam forms an integral
part of Gandhinagar's urban area with ease of access to Ahmedabad International
Airport; Hrudhyam shares location with National land mark institutions,
National/International corporates', IT companies and Education centers, ease of mass
public transportation, Metro connectivity, low cost living with High Urban standards
makes Hrudhyam a natural choice.
What are the Major Features of
Property?
70 m height commercial project in Gandhinagar.
Project offers Green Building, Sustainable planning, un match corporate office ceiling height, more
parking, unhindered branding display, Three Entrance level corporate lobby in prominence,
energy efficient structure glazing are some of the unique features of the project.
What is the Height of the
Building?
Building is 70 m height first of its kind
in Gandhinagar.
What is the Ceiling Height of
Shops | Show Rooms | Retail Space | Corporate Office Space and co working space?
At Ground Floor/First Floor/Second Floor
4.5 M ceiling height is planned for Show Rooms. In corporate offices and coworking space ceiling height of
3.6 Meter to 3.9 meter height is planned.
What is the main attraction
for Lobby Area?
Commercial project is divided into two standing
towers, Prominence for corporate offices and Flare for Start Up Offices. Each tower has
different lobby attire. Prominence lobby is 13.5meter height i.e. 44 feet height
while Flare lobby is 9 meter i.e. 27 feet height. Retail has a dedicated entrance
with central ellipse courtyard with automatic escalators and centrally
air-conditioned lobby area.
How Commercial Property differs for
Vertical transportation (Lift)?
Project offers in total 12 lifts in commercial tower. High speed lift of 16 passenger capacity with an
optimized average waiting time. Each tower is provided with service lift. Retail has two escalators
and two passenger lift for circular movements and ease of access for the shopping
experience.
What is the Parking Facility
Offered?
‘No Business Loss’ because of parking is
the tag line of the commercial project. Project offers un match parking with 4+ level parking
with parking arrangement of 385 cars plus 50 four-wheeler parking for visitors at
Ground Floor. Apart of that total 400 plus two-wheeler parking provisions has been
planned. This makes natural choice to buy commercial property in Ahmedabad | Gandhinagar.
What is Green Certified
Building?
Green building rating and certification
systems require an integrated design process to create projects that are
environmentally responsible and resource-efficient throughout a building's
life-cycle: from siting to design, construction, operation, maintenance, renovation,
and demolition.
What is Glass Curtain Wall?
It provides free follow of natural lights
and unhindered exterior views which are the required properties of modern working
space. Use of right material can make Glass curtain walls energy efficient, UV
resistant and sound resistant.
What is Façade Design or
Structured Glazing?
Facade Engineering is the art of
resolving aesthetic, environmental and structural issues of the glass curtain wall
to achieve the enclosure of living space. To ensure durability and safety of
occupier against impact, thrust, air pressure on glass curtain walls has to be
designed by façade engineer. Glass curtain wall designed is called structure
glazing.
What is the provision of
Visitor Parking?
Visitor parking is provided along both
the road side, in common area with provisions of more than 50 cars.
What is the public
transportation System Available?
Local bus station is adjoining to the
property. Metro Station is coming at 500 m distance at Bhaijipura circle. Private
public transportation like auto rickshaw, Uber, lyft, ola services are also
available in the region.
How far is Airport from the
Location?
Ahmedabad International | Domestic Airport
are 12 kms away from the location. With express and VIP road it can be reached
within 20 minute time.
How far is Ahmedabad | Gandhinagar Railway Station?
There are three options for the Railway
Connection. State of Art Gandhinagar Railway station is located at distance of 10
Kms. Sabarmati Railway station connecting to all major part of India is 18 kms away.
One can also use Ahmedabad Railway station which is 23 km away from the project
site.
What is Bus Service
facilities near commercial property?
State run bus GSRTC bus terminal at
pathika is located at 3.5 km from the location. While for local commute bus station
is adjoining to the site facility.
How far is the residential
area and what are the options for buying and renting?
Hrudhyam is in Mid of Urban development
of Gandhinagar Authority. Lots of residential property for rent, lease and buying
are available with budget to suit in vicinity with radar distance of around 500
meter to 3 kms with good neighbourhood. Grocery stores, kinder garden, primary
school, secondary school and premium colleges and institutions are just in radius of
5 kms.
Charges & Maintenance
What are the other Charges of
the project?
3750 Rupees per sqm of carpet area is the
other charges for the project which covers the expenses like (a) GUDA fees, (b)
Electric Supply estimates (UGVCL), (c) Stamp Duty and legal expense incurred for the
project land.
What is the process of legal
documentation?
If purchaser intents to purchase, then
“Application Form” must be filled up by showing intention of purchase. In
“Application Form” financial details, Applicants Details, Schedule of payments and
detailed terms and conditions are mentioned which purchaser has to read carefully
before signing “Application Form”. After an amount paid registered agreement will be
executed. After final payment sale deed will be executed.
Will the documentation be done
on Carpet Area?
Documentation will be done on the Carpet
Area as defined by RERA regulations.
What is the Carpet Area as per
RERA regulations?
‘Carpet Area’ means the net usable floor area of an
unit excluding the area covered by the external walls, areas under service shafts,
exclusive balcony or verandah area and exclusive open terrace area, but includes the
area covered by the internal partition walls of the unit.
What is the Builder
Maintenance Deposit and what does it covers.?
65 rupees per square meter per month of carpet area
payable for 36 months in advance is the Builder maintenance charge payable at time
of possession. The cost covers general maintenance, common electric bill, security
charge, gardening and property maintenance. But cost does not cover property tax or
any capital expense.
What is Member Maintenance
deposit and what does it covers?
9350 Rupees per sqm of carpet area is Member
maintenance deposit which will cover (a) general maintenance, (b) common electric
bill, (c) security expense, (d) property maintenance.
What are registrations,
documentations and legal charges of the unit?
For sale deed and transfer of the property legal charge
of rupees 50000 and actual stamp duty and registration charge payable to government.
How much GST is applicable for
the project?
Non-refundable 12% is applicable as per Government
rules and regulations for the project.
How much of the amount of GST
so Paid is refundable?
Any GST has to be paid to the Government and hence any
GST so paid is non-refundable. According to GST regulations GST so paid in purchase
of property cannot be claimed by purchaser. Any balance GST so paid by developer
cannot be claimed by developer.
IS GST applicable after BU?
Any unit bought after obtaining Building Use permission
GST is not applicable. Any Unit booked prior to Building Use permission and on such
unit any amount payable is still liable for the GST even after getting Building Use
Permission.
Statutory Questions
Bank Payment details
All payment shall be made on name of
‘Dhruvi Infra’ having its RERA master collection current account at HDFC Bank having
account number 50200042068021 IFS Code number HDFC 0001680 Vasna Ahmedabad – 380007
Gujarat India. SWIFT code is: HDFCINBB
What the booking terms?
Booking can be done by (a) Down Payment
or (b) Regular Payment.
Down Payment means paying full amount of consideration within one month.
Regular payment means paying first instalment of the 30% and rest instalments are
divided into equal monthly instalments subject to progress of work as decided and
defined in agreement. Schedule of payment is attached as Annexure - I
What is not included in the
cost of the Unit?
Cost of the unit does not cover (a) Other
Charges, (b) Builder Maintenance Deposit, (c) Member Maintenance Deposit, (d)
Documentation and legal charges.
Cost does not cover any ‘extra work’ proposed by member.
What is the booking procedure?
After the rates finalized, intending
client must fill and duly sign the ‘Application Form’ token amount and submit to
register office at “Dhruvi Infra, 2nd Floor, H. K. Complex, Near Dharnidhar Deraser
Paldi Ahmedabad – 380007 Gujarat India”. Application form is attached as Annexure
II.
At 30% payment registered agreement will be executed between Dhruvi Infra and Party.
At the time Provisional Allotment letter will be issued which will be valid till
execution of registered agreement.
What if there is delay in
payment of Instalment?
Any delay in payment of instalment shall
attract interest of 9%. Any subsequent delay of payment by two instalments will
attract cancelation of the booking under cancelation policy of the company.
What is the cancellation
policy?
If purchaser fails to pay more than two
instalments along with 9% interest, then developer shall give notice of fifteen
days. If payment is not received within the notice period cancellation process will
be initiated and after deducting relevant amount payment shall paid to purchaser
after sell of the unit.
Investment Questions
What are Investment Options
for office Space?
HRUDHYAM has offices divided into two blocks with
corporate offices planned at Prominence and small start-up offices planed in Flare.
Prominence offers corporate office size starting from 2300 square feet to 9200
square feet. Office floor to floor height up to level 13 is 3.65 meters and 14th
floor has floor to floor height is 4.05 meter. 15 to 17th floor has floor to floor
height of 3.9 meters.
Flare offers office space for star up size starting from 500 square feet to 1500
square feet.
What are Investment options
for Retails/Shops?
Retail space is planned at Ground Floor,
First Floor and Second floor. There are different business models be worked out from
fashion stores, eatery, Jewellery Show Rooms, Fast Food outlets.
Ground floor has Floor to Floor height of 4.5 meters, First Floor has floor to floor
height of 4.5 meters and second floor has floor to floor height of 4.5 meters.
What are business models
available for the Project?
Hrudhyam offers vivid space for business
models like 3 Star Hotel, restaurants, coffee shop, co-working space of 34200 square
feet. Apart of that fashion and brand outlets can also be planned on plate size of
10000 square feet to 20000 square feet.
NRI Investment
Who is Non-Resident Indian(NRI)?
An Indian citizen who stays abroad for employment/carrying on
business or vocation outside India or stays abroad under circumstances indicating an intention for an
uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials
deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also
treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian
origin are treated on par with non- resident Indian citizens (NRIs).
Who is a PIO?
A person of Indian origin means an individual
(not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan)
What is OCI?
The Overseas Citizenship of India(OCI) is an immigration status permitting a foreign citizen of Indian origin to live and work& in the Republic of India indefinitely.
Person who has held passport of India any time or who or whose father or paternal grandfather was citizen of India by virtue of the constitution of India or the Citizenship Act 1955.
Can NRIs buy real estate properties in India?
Yes. NRIs can buy and sell residential and commercial properties in India.
Is there any restriction on the number of properties NRIs can buy in India?
There is no restriction on the number of residential or commercial properties an NRI can own in India. However the law restricts NRIs
from purchasing any kind of agricultural land/ plantation property/ farm house in India.
Can NRIs acquire commercial properties in India?
Yes, under the general permission granted by the Reserve Bank,
property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the
purchase consideration is met either out of inward remittances in foreign exchange through normal banking
channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India and a
declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.
Can NRIs buy properties in India without the Reserve Bank’s permission?
Reserve Bank has granted general permission to foreign
citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India
for their bona fide residential/commercial purpose.
They are, therefore, not required to obtain permission of Reserve Bank.
Are there any formalities required to be completed by NRIs/PIOs for purchasing residential immovable property in India under the general permission?
They are required to file a declaration in form IPI 7
with the Central Office of Reserve Bank at Mumbai within a period of 90 days from the date of purchase
of immovable property or final payment of purchase consideration along with a certified copy of the
document evidencing the transaction and bank certificate regarding the consideration paid.
What are the documents required for buying a property in India?
The following is the list (non-exhaustive) of documents required for NRIs to buy property in India:
PAN card (Permanent account number), OCI / PIO card (In case of OCI / PIO), Passport (In case of NRI), Passport size photographs, Address proof
What are the kind of properties an NRI/PIO cannot buy?
An NRI/PIO cannot usually buy agricultural land/plantation
property/farm houses in India. Proposals to buy such a land have to be specifically approved by RBI,
in consultation with Government of India. The only way they can acquire an agricultural land is by inheritance.
Can NRIs acquire or dispose residential property by way of gift?
Yes, the Reserve Bank has granted general permission to NRIs
to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen
or a person of Indian origin (PIO) whether resident in India or not.
Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?
The Reserve Bank has granted some general permission to certain financial institutions providing housing finance
e.g. HDFC, LIC Housing Finance Ltd., etc, and authorized dealers to grant housing loans to NRI nationals for acquisition of a NRI house/flat for self-occupation
subject to certain conditions. Criteria regarding the purpose of the loan, margin money and the quantum of loan will be at par with those applicable to resident Indians. Repayment
of the loan should be made within a period not exceeding 15 years, out of inward remittance through banking channels or out of funds held in the investors' NRE/FCNR/NRO accounts.
What is the loan sanction process and its documentation?
The documentation required to be submitted by the NRIs are different from the Resident Indians as they are required to submit additional documents, like copy of the passport and a copy of the works contract, etc. and of course NRIs have to follow certain eligibility criteria in order to get Home Loans in India.
Another vital document required while processing an NRI home loan is the power of attorney (POA). The POA is important because, since the borrower is not based in India; the Home Finance Company would need a 'representative' 'in lieu of' the NRI to deal with and if needed. Although not obligatory, the POA is usually drawn on the NRI's parents/wife/children/ close relatives or friends.
The documents needed for obtaining NRI home loans are Bank specific. General list of documents are as mentioned below:
Passport and Visa
A copy of the appointment letter and contract from the company employing the applicant.
The labour card/identity card (translated in English and countersigned by the consulate) if the person is employed in the Middle East Salary certificate (in English) specifying name, date of joining, designation and salary details.
Bank Statements for the last six months
List of Classified documents for Salaried and Self Employed NRI Applicants. Banks may have specific requirements apart from the below listed documents.
Salaried NRI applicants
Copy of valid passport showing VISA stamps
Copy of valid visa / work permit / equivalent document supporting the NRI status of the proposed account holder
Overseas Bank A/C for the last 3 months showing salary credits
Brief profile of the applicant and business/ Trade license or equivalent document
6 months overseas bank account statement and NRE/ NRO account
Computation of income, P&L account and B/Sheet for last 3 years certified by the C.A. / CPA or any other relevant authority as the case may be (or equivalent company accounts)
What is the Tax treatment for income generated from property selling or renting for NRI/PIO/OCI?
The mere acquisition of property does not attract income tax. However, any income accruing from the ownership
of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and it is not the only residential property owned by that person in India) and/or capital gains (short term or long term)
arising on the sale of this house or part thereof is taxable in the hands of the owner.
What is the Tax treatment for income generated from property selling or renting for NRI/PIO/OCI?
The mere acquisition of property does not attract income tax. However, any income accruing from the ownership
of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and it is not the only residential property owned by that person in India) and/or capital gains (short term or long term)
arising on the sale of this house or part thereof is taxable in the hands of the owner.
Does Capital Gains Tax (CGT) apply to NRI / PIO / OCI?
Yes. Long-term and short-term capital gains are taxable in the hands of non-residents.
How does Double Taxation Avoidance Agreement work in case of NRIs?
In case of sale of an immovable property, the Double Tax Avoidance Agreement (DTAA) with most countries state
that capital gains will be taxed in the country where the immovable property is situated. Hence, if an NRI owns immovable property in India, then he/she will be subject to pay tax in India on the capital gains which arise on the sale of the property.
Similarly, letting of immovable property in India would be taxed in India under most tax treaties