Palace Gardens, Gurgaon:
Palace Gardens is located in the vibrant suburb of Gurgaon, one of New Delhi's four major satellite cities.
How to buy
We are initially offering two purchase types: buy-to-let and buy-to-sell.
Our buy-to-let offer is a standard one and we are offering a two-year rental guarantee in order to give you peace of mind.
Our buy-to-sell investment is again a standard one but this type of investment has its advantages. If the purchaser pays a 50% deposit and re-sells before completion, then the purchaser will not need to:
Come up with the balance 50%
Pay stamp fees
Pay property tax and other associated fees
Foreign Citizens of Non-Indian Origin (FNIO) can opt for either of 2 purchase methods available to them: By Lease Issue or By Company Formation.
Purchase by Lease Issue
The first method is by way of Lease Issue which the developer issues to the client. It is a legally binding document enforceable under Indian Law, issued upon completion. This is similar to the UK except and insofar as this Lease gives the Lessee full Freehold rights over the property for its duration.
Indian law states that the lease cannot rest with the same person for more than 5 years at a time so a clause has been incorporated into all contracts to guarantee the holders the right to assign their respective leases to whomsoever they may nominate. When a second lease expires (after a further 5 years), it may return to the original owner.
The reason this method is ideally suited to buy-to-sell investors is that because selling the property, at the buyer's discretion prior to completion, literally involves nothing more than a transfer of the lease to the new buyer.
Purchase by Company Formation
The second purchase method involves completion through an Indian holding company. The model suits any buyer and involves the formation of the company by Pathway's solicitors in India, which is then administered by the buyer after completion. Like the lease, the company purchase model also offers tax advantages and is a relatively simple and inexpensive undertaking.
*Non-Resident Indians (NRI's) and Persons of Indian Origin (PIO's) are able to purchase as resident Indians, as allowed under Reserve Bank of India guidelines.