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 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.

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.

Registration of a property includes necessary stamping and paying of registration charges for a sale deed/Agreement for sale and getting it recorded at the sub-registrar's office of the concerned jurisdictional area.

You can apply for ICICI Bank Home Loan through our website www.icicibank.com or visit the nearest ICICI Bank branch

Under the Pre-Equated Monthly Instalment (EMI) option, the borrower is required to pay only the interest on the loan amount that will be disbursed as per the progress on construction of the project. The actual EMI payment starts after the possession of the house.

EMI or Equated Monthly Instalment is a fixed amount paid by you to the bank on a specific date every month. The EMIs are fixed when you borrow money from the bank as a loan. EMIs are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank with interest.

Capital Gains are exempt if a person purchases a new flat within two years of the date of sale of the original flat and invests the entire amount of capital gained into the new flat. However, the same is subject to the provisions of the Income Tax Act, 1961. Customers are requested to consult his/her Chartered Accountant in this regard.