Assetz Marq 2
Kannamangala Whitefield, Bangalore
Call +91-88619 51188
Assetz Marq 2 Bangalore - Faq's
- 1. What is Assetz Marq project all about??
- A. It is a 28 Acre mixed used Development with residential towers, a neighborhood school, and a proposed retail center. Assetz Marq will be catering to about 2000 families. Marq is designed to make city living smarter in many ways. Assetz Marq will be Bangalore's first master planned community that is engineered to bring information communication technology right into your home with Fiber to the Home Technology.
- 2. Where is Assetz Marq is located?
- A. ThisProject is located at Kannamangala, on the Whitefield- Hoskote main Road. It's a 3 Km drive from Old Madras Road, an easy drive to the city center (22 Km) & very close to the technology hub of Bangalore. Airport is at 30 Km from Marq site on. Refer to the location map on our website www.assetzproperty.com/marq for further details.
- 3. Who is Developer of this project?
- A. Marq is developed by Assetz Whitefield Homes Pvt. Ltd. Assetz is an Assetz Property Group Company (APG). Singapore Headquartered, APG is a leading Development corporation and is the name behind most renowned, high quality commercial and residential estates across south Asia. Assetz started its operations in India in the year 2006.The management team at Assetz has extensive leadership experience in real estate development across Asia. The focus has been predominantly in real estate development and investment, with a secondary focus on infrastructure in the Asia region. APG supports strong management teams for its projects by providing capital, senior management support and diverse relationships with operating partners in India, Bhutan, Indonesia and Australia. Through its various strategic ventures, APG group develops projects across residential, commercial and mixed-use asset classes. Please visit www.assetzproperty.com for more details about Assetz group.
- 4. What are some of the Key Projects of Assetz?
- A. Assetz has worked on several landmarks projects in commercial & residential segments. Assetz developed Vrindavan Technology Park (106 acre commercial IT SEZ) & continued with developing Global Technology Park a 14.5 Acres IT park in Bangalore. Then Assetz developed Thimphu Tech Park (Bhutan's first) in JV with World Bank, Sovereign Fund of Bhutan and Druk Holding & Investments. Assetz expanded the residential business to 5 million Sqft. of development (over 2000 apartments) by developing various projects like 27 Park Avenue & Assetz East Point. Currently few other residential projects Assetz Lumos & Assetz Clover Greens which is golf based community comprising of high end villa development are also on offering. Please visit www.assetzproperty.com for more details about the projects executed by Assetz group.
- 5. How does Marq differentiate from other projects? Why should I book my apartment here?
- A. Marq is a "Thoroughly Thought Through" project conceived and developed by world renowned consultants. Project is master planned by an International master planner Mr. Ross Bonthorne. CnT, an award winning architectural firm is the architectural consultant. Site Concepts, a Singapore based landscape consultant designed the landscape master plan. Marq is planned to every detail and a tremendous effort has been made in deriving a solution that offers maximum value for your hard earned money. Located at a fast developing residential neighborhood Marq is a mixed development property with 23 acres residential & 5 acres commercial space ear-marked in the master planning. It offers better chances of appreciation. Site is very close to Commercial offices at Beary's Global Research Triangle as well as ITPL.
- 6. What is the initial booking amount?
- A. A sum of Rs. Five Lakh is payable towards the initial booking amount which will be adjusted during the signing of the agreements against the 20 % amount payable as on signing the agreement.
- 7. What type of community facilities and amenities are offered?
- A. It offers a rich range of facilities and amenities to foster community living. The facilities are mainly categorized into indoor and outdoor facilities. Indoor facilities are predominantly located at the club house including gymnasium, party hall, badminton court, squash court, table tennis etc. Outdoor facilities include Swimming pool, children's play area, parks, Tennis court, semi-private zones etc. Apart from this, double height entry lobbies are created as community spaces. All the neighborhoods have independent clubhouses (4 No's). Please refer to amenities listed in the master plan. For more details, visit our website www.assetzmarq.in
- 8. What is the procedure to book an apartment at Marq?
- A. Please go through the project information from Brochure or website for a complete understanding of the project. Our sales managers will help you to choose your apartment out of the available list. After choosing an apartment of your choice you are required to fill booking application form and pay the booking amount by Cheques or DD or electronic wire transfer.
- 9. What is FTTH? Will I have to pay more maintenance due to FTTH?
- A. Fiber to the Home Technology is a form of cabling which bundles data, voice & video circuits using fiber optic cable. It will transfer into a better connectivity, improving security and access control, building management, information, community connect, people services, transactions, entertainment, learning governance and any technology driven service that the future holds.
- 10. What kind of agreements do I need to enter into while buying the apartment?
- A. You will be signing two agreements: Agreement to sell and Construction Agreement. Upon the completion of project construction and offer of possession you will be signing a Sale Deed.
- 11. Can I make 100% down payment? What will be my benefit?
- A. Yes, you can make down payment and avail a special discount. Please check with the sales manager for further details. If you are taking a loan then it will be your responsibility to ensure that the bank/housing finance institution disburses this amount to Assetz by the said date. If the payment is not made within the specified date, it will be deemed that you are opting for the installment scheme. However, you will be required to pay 30 % of the sale value as stipulated to get the allotment confirmed.
- 12. What happens if I cancel my booking?
- A. If at any point of time you decide to cancel after booking but before agreement, then Rs. 75000 will be forfeited as a cancellation fee and the balance will be refunded within 4 weeks without interest. In case the booking is cancelled post agreement, 25% of the sale value will be forfeited & balance will be refunded without interest within 4 weeks.
- 13. What is the process of Registration and when does Registration take place?
- A. Registration will be done only on completion of each phase and on payment of the entire sale consideration including the deposits. Registration will be facilitated by us through an Advocate appointed by Assetz.
- 14. What is a Sinking Fund? What's its use?
- A. Sinking fund is collected to fund a future capital expense or replacement of a deteriorating asset. A sum of Rs.40/- per Sft corresponding to the super built area will be collected as sinking fund. This amount will be deposited in bank account and the accruals will be used for major expenditure.
- 15. What is the scheme of Maintenance?
- A. The scheme for maintenance is as follows: A sum of Rs.4/- per Sft monthly for 12 calendar months will be charged as an advance maintenance fee for the first year and will be collected at the time of closing of your payables account at offer of possession. From the second year onwards, maintenance charges will be levied on a quarterly basis payable in advance. All future payments are to be made favoring the property management company designated by Assetz.
- 1. What are the documents that one needs to check for, while buying commercial or residential property?
- A. While buying a property you always need to check on the approved layout plan, ownership related documents, approved building plan etc. You may also like to do a title and document search through the professional services of a competent advocate.
- 2. What is Carpet area?
- A. As the term suggests carpet area could be defined as the actual space enclosed within the walls where one might be able to lay carpet. This doesn't enclose the thickness of the wall rather it determines the space that could be actually used on a residential or a commercial property.
- 3. What is Build up area?
- A. The built up area is the measurements of the carpet area plus the thickness of the walls and the balcony. The built up area is the actual space taken to build the property.
- 4. What is the difference between carpet area, built-up and super built-up area?
- A. The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area that is actually used inside an apartment and in which a carpet can be laid. When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area and is accordingly pro-rated for each apartment.
- 5. What is meant by valuation of property?
- A. The valuation process evaluates the market value of the property. Demand and supply forces operating in the market, as well as other factors like type of property, quality of construction, its location, the local infrastructure available, maintenance, are all taken into consideration before the market value is decided.
- 6. What is the meaning of a property's market value? How is its stamp duty decided?
- A. The price that a property can command in the open market is known as its market value. Stamp duty is based on the market value or the guidance value or the agreement value of the property, whichever is greater.
- 7. What is a Sale deed?
- A. A sale deed is a document that a seller issues to the buyer, thereby transferring the ownership of the property. The execution of the document takes places after construction is complete, occupation certificate is received and all the different terms and conditions present in the sale agreements are fulfilled.
- 8. What are the charges to be paid while gifting property?
- A. When a gift of property is made, a gift deed needs to be made by a lawyer. Stamp duty on the market value of the property also needs to be paid, as well as the necessary registration charges.
- 9. Is there any registrations fee on sale of property?
- A. The sale of immovable property establishes a 1% interest on the market value of the property or 30,000 INR whichever is lower. You might incur additional charges in a computerized sub registrar office incurred on scanning or other stationary.
- 10. What is a Freehold property?
- A. In simple terms, a freehold property is the one where the owner has complete ownership of the land and anything built on the same. Freehold property gives the owner the right to enjoy or dispose off at will the property.