Frequently asked questions:
1.
Are the titles of all projects undertaken by Vascon clear?
2.
What is the difference between (a) carpet area, (b) built-up and (c) super built-up area?
3.
What are the clauses, if the Builder doesn't complete the Project as agreed?
4.
Who is the Plan sanctioning Authority for 'Vascon Venus'?
5.
How is water supplied to the apartments?
6.
How is electricity supplied to the apartments?
7.
When there are apartments of different sizes in a complex, how is the maintenance charge calculated?
8.
Can customization of our apartment be facilitated?
9
What will be Warrantees /Guarantees for structure, Water proofing, etc from the Builder?
10.
Will we be assisted in renting out the apartment we buy from Vascon?
11.
Are prices quoted and finalized subject to escalation?
12.
When can one sign the Sale Agreement after paying the initial Booking Amount?
13.
What is the maximum amount of loan we get from banks?
14.
What is EMI?
15.
What is pre-EMI?
16. Can I fore-close my loan?
17.
What are the fore-closing charges?
18.
(a) What is property scenario in Bangalore?
(b) What is the scope for development in Bangalore, in terms of Apartment Building?
(c) What is the possibility of growth in Apartment constructions?
(d) Is investment in Real Estate safe in Bangalore? Is anybody investing in Real Estate?
(e) What is the growth prospects in Bangalore compared to other cities in India?
(f) What is the capital accretion for Apartments in Bangalore compared to other cities in India?
(g) Is affordable investment good in Bangalore?
(h) What is the safest range of investment in apartments?
(i) Why the demand for apartments rather than for Independent Bungalows?
(j) Do apartments have good resale potential ?
 
1 Are the titles of all projects undertaken by Vascon clear?
  We trace the title of the property for over 40 years for clear marketable title of the land and before launch of the projects we will obtain all necessary clearances from the concerned statutory authorities
2. What is the difference between (a) carpet area, (b) built-up and (c) super built-up area?
 

The area of an apartment or building, not inclusive of the area of the
walls are known as carpet area. This is the area that is actually used
and in which a carpet can be laid.

When the area is calculated including the thickness of the walls,
balcony along with the carpet area 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 and such like amenities
is called super built-up area.

 
3 What are the clauses, if the Builder doesn't complete the Project as agreed?
 

There are clauses in Sale Agreement being entered into by the purchaser with the Builder: "If for any reason the Builder fails or neglects to complete the construction within the stipulated period, including the grace period of three months and subject to major acts of God or for any other reasons detailed in the relevant clause(s), then for every month's delay up to three (3) months, the Builder shall pay a reasonable amount every month as damages. If any further delay thereafter, the amount of damages payable shall be increased by 50% of the amount mentioned herein above, until the date of delivery of possession".

 
4
Who is the Plan sanctioning Authority for 'Vascon Venus'?
  Vascon Venus' is sanctioned by Bangalore Development
Authority (BDA), which is the highest Authority for sanctioning
of Apartment Buildings in Bangalore.
 
5. How is water supplied to the apartments
  In 'Vascon Venus' a special arrangement is made for supply of potable water for each apartment through treated bore well water with sufficient capacity and provision is made for supply of Cauvery water by BWSSB. Minimum supply according to WHO standards will be catered to.
6. How is electricity supplied to the apartments?
  A KPTCL connection is taken for the apartment complex just like a connection is taken for an independent home. But here the apartments will have their own transformer facilities and also individual meters for each Apartment.
7
When there are apartments of different sizes in a complex, how is the
maintenance charge calculated?
 

Legally, the actual area owned by the individual is the basis for calculation of maintenance charge.

8. Can customization of our apartment be facilitated?
  Subject to technical feasibility, without any alterations on the exteriors design, aesthetics, elevation and the building structure, customization is possible.
 
9. What will be Warrantees /Guarantees for structure, Water proofing, etc from the Builder?
  Warrantees/Guarantees given by the concerned service providers will be handed over to the Association of all the flat owners when it's in place. Further, over-all Guarantees is for six months or one monsoon, whichever is less. The Builder will be maintaining the Complex for a period of one year. The over-all Guarantee period is falling within that period.
As regard other Warrantees/Guarantees:
Example:
(a) Water Proofing Warrantee is for ten years given by the service provider.
(b) Hardware, viz, locks, etc from Godrej for seven years by the Manufacturer/      Distributor.
(c) Similarly for CP fittings.
(d) ROMA/ANCHOR electrical fixtures for a period of five years.
(e) GenSet for one year given by the service provider.
(f) Gym Equipment for one year from the service provider.
(g) Swimming Pool for one year.
 
10. Will we be assisted in renting out the apartment we buy from Vascon?
  We do get a lot of enquires, and every effort will be made to assist the
purchasers from out-side Bangalore. However, the following agencies
undertake Property/Asset management of your flat for some fees. Please, get in touch with the following agencies:

A. Bhoomi Property Consultant,
#1527, 11th Cross, 13th Main,
MICO Layout, BTM II Stage,
Bangalore-560 076
Tel: 080-2668 3776/ 080-2678 3148
Contact: Mr. Praveen: 94482 28571

B. Synergy Consultant,
#25, VN Plaza, Bazaar Street, Brigade Road,
Bangalore-560 025
Tel: 080-4112 7944
Contact: Mr. Rajeev Balakrishnan: 98440 19891
E-Mail: rajeevbalakrishnan@yahoo.com

 
11. Are prices quoted and finalized subject to escalation?
  Once the initial booking amount is paid, the price remains constant. The subsequent rate change will not affect you in any manner.
 
12. When can one sign the Sale Agreement after paying the initial
Booking Amount?
  This can be done within 30 days from the date of initial payment made.
(Please see Clause (3) of the Booking Application Form)
 
13. What is the maximum amount of loan we get from banks?
  Generally, financial institutions finance to an extent of 85% of the total cost,
i.e., including car park, registration and other costs. Some institutions may consider higher loan eligibility, depending on various factors which the purchaser needs to discuss with the FI.
 
14. What is EMI?
  When you avail a loan it is repaid in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement or from the time of possession.
 
15. What is pre-EMI?
  Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.
 
16.
Can I fore-close my loan?
  Yes. Loans can be fore-closed for a nominal charge before the termination.
 
17.
What are the fore-closing charges?
  Usually fore-closing charges are 2-3 % on outstanding principle amount for the loan taken depending on the loaning institution chosen.
 
18.
(a) What is property scenario in Bangalore?
  Bangalore is a fast developing city with buoyancy in the market. It is ever growing and the IT and Bio-Tech industries have added to this exponential growth in recent years.
 
 
(b) What is the scope for development in Bangalore, in terms of Apartment
Building?

  With horizontal growth of Bangalore for the last few years, the number of suburbs and congested central districts has increased, pushing the value of properties northwards. With the new Comprehensive Development Plan (CDP) by Bangalore Development Authority (BDA) out, vertical development will enhance the scope for construction of multi-storied apartments. The increasing population of young IT & other professionals with surplus cash are fuelling this growth of apartments culture in Bangalore.
 
 
(c)What is the possibility of growth in Apartment constructions?
  It's Very high. The young IT professionals who have fuelled the real estate growth have little time and depend more on professional work of builders. Apartments are also considered safer by most working families. The scope for socializing improves and the facilities available in apartment communities are not what an individual can afford.
 
 
(d) Is investment in Real Estate safe in Bangalore? Is anybody investing in Real Estate?
  Now it is very safe. The rentals have increased over a period of time with many MNCs opting leases for their employees' homes. The change in rental laws also favors the owners. Thus, today it is far better to invest in Real Estate.
 
 
(e) What is the growth prospects in Bangalore compared to other cities in
India?

  According to recent reports, Bangalore ranks first in Jobs, income, good weather & safety, 3rd in Health, 4th in Pollution, 5th in housing construction activity & Education, 6th in Transport & Entertainment, in a poll conducted in Kolkata, Chennai, Mumbai, Hyderabad, Delhi and other major cities of India.
 
 
(f) What is the capital accretion for Apartments in Bangalore compared to other cities in India?
  Properties in Bangalore are going through a boom in a cycle of every nine years on a regular basis. The properties are thus proving to be a tremendous addition to capital growth. Property rates have also risen by 3000% in 10 years. The recent study states that investment growth is almost 100% or more in Bangalore
 
 
(g) Is affordable investment good in Bangalore?
  Yes. This is a never drying market and there will always be rental possibilities available round the year.
 
 
(h) What is the safest range of investment in apartments
  Investments in flats costing lower & middle level are the safest for several reasons. There is an increasing awareness of the advantages of such apartments among people. This has resulted in a steadied increase in the number of buyers. The resale value of these apartments is also high. Rental values are comparably good.
 
  (i) Why the demand for apartments rather than for Independent Bungalows?
  The obvious and important advantage in apartments is safety rather than in independent bungalows, which is the prime concern of homeowners especially for those who travel frequently. Each apartment complex will have an Association of their own, which undertakes the maintenance, hassle free to an individual from day to day matters. There also is a chance to socialize at no extra cost. Thus, the apartments present an obvious edge.
 
  (j) Do apartments have good resale potential?
  Yes. Increased awareness among people of the advantages of apartments
has led to uptake on a large scale. Increasing land values and booming
property market has further enhanced the resale potential of apartments.
Thus, it is any day a safe buy.
 
 
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