S.R.R. HOMES believes in offering its clients answers to most of the Frequently Asked Questions, which helps them in better decision making.

How did S.R.R. begin it's journey ?
In the year 2002, a group of technocrats located in India and overseas, came together to establish S.R.R. Homes, at Bangalore, the Silicon Valley of Asia, In a short span of time, this forward-looking Company has carved a niche for itself in the demanding and dynamic real estate industry. Several real estate projects today carry the inimitable signature of the Group.

Why S.R.R. ?

• 20+ Years of Experience
• Highly Professional Team
• Well Planned Layouts
• Luxurious & Afforbale Living Spaces
• Smooth Operations
• Properties Catering To Your Needs
• Realistic Pricing
• Great Return On Investmnets
• Approved Projects
• Customer Centric Approach

What are the services provided by S.R.R.?

We provide the following services for our valued customers & clients :
Property Search & Sales: Our property division functions as your "Personalized Property Investment Manager". Taking away the puzzle out of property investment, we have introduced Dependability, Security, Transparency and a Progressive Outlook – powerful associations to your tangible investment. Add to this integrity, trust and commitment and you have the key ingredients for a long-term relationship to reap you rich dividends and a happy smile. Stress-free investment to enriched living!

Real Estate Project Marketing: In addition to marketing our own properties, we also offer our clients diverse investment opportunities from an array of reputed developers & builders. Our team of talented professionals possesses strong industry knowledge & are empowered to guide you to make the right investment, at the right time. The recognition that we enjoy today is a result of our strong commitment & never ending effort towards building enriching long-term relationships.

What does your logo stand for ?


The abbreviation S.R.R. stands for " Sri Raja Rajeshwari " which marked the beginning of our journey with the construction of the holy Rajarajeshwari temple at Jigani. The abbreviation along with the statement ‘Dreams to reality’ is collectively referred to as the "S.R.R. Logo".

The logo reflects our vision to "To transform dreams into reality thus creating a brand synonymous with trust, care, respect, commitment & excellence".

It indicates how we have ‘diversified’ to a company which is a provider of ‘Complete Real Estate Solutions’ to guide you through the process of Real Estate investment. The symbol also signifies the commitment and endeavor with which we ‘show you the way’ without imposing our views, thus, giving you the opportunity to make sound investment decisions. We believe that only through our connectedness will we be able to leave you with a feeling of satisfaction.

Lastly, the color blue, long considered the ‘corporate color’ is associated with intelligence, stability, and unity. It can be strong and committed or light and friendly and that is the sense you will get when you meet us.Also, the color red stands for enthusiasm, energy & a sense of protection which is what we provide you at every step of your journey with us. The solemnity and unification of the symbol is regarded as a significant part of reflecting the concept and culture of our enterprise.

S.R.R. HOMES believes in offering its clients answers to most of the Frequently Asked Questions, which helps them in better decision making.

REAL ESTATE GUIDELINES FOR NRI’s

1. 1. Who is a foreign citizen of Indian Origin?
A foreign citizen is deemed to be of Indian Origin if : i) he held an Indian Passport at any time or ii) he or his father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955. However this does not apply to citizens of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka or Nepal)
2. 2. To acquire any residential/commercial property in India do a non-resident Indian citizens require permission of The Reserve Bank?
Not necessarily. All Indian citizens are entitled to buy Residential/Commercial type of property in India, irrespective of their residential status.
3. 3. Do foreign citizens of Indian origin require permission of the Reserve Bank to purchase immovable property in India for their residential use?
Yes. However, the RBI has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bonafide residential purpose. They are, therefore, not required to obtain separate permission from the Reserve Bank.
4. 4. How should the purchase of residential immovable property be paid for by foreign citizens of India origin under the general permission?
The purchase consideration should be met either out of inward remittance in foreign exchange through normal banking channels, or out of funds from NRE/FCNR accounts maintained with banks in India.
5. 5. What formalities have to be completed by foreign citizens of Indian origin to purchase 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 documentary evidence for the transaction and bank certificate for the money paid.
6. 6. Can such property be sold without the permission of Reserve Bank?
Yes. Reserve Bank has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.
7. 7. Can sale proceeds of such property (if and when sold) be remitted out of India?
For residential properties purchased on or after 26 May 1993, the Reserve Bank considers applications for repatriation of sale proceeds. Approval is usually granted for up to the consideration amount remitted in foreign exchange in acquiring the property for a maximum of two such properties. The balance amount of sale proceeds, if any, or sale proceeds for properties purchased prior to 26 May 1993, will have to be credited to the ordinary non- resident rupee account of the owner of the property.
8. 8. Are any conditions required to be fulfilled if repatriation of sale proceeds is desired?
Applications for repatriation of sale proceeds are considered provided the sale takes place after three years from the date of final purchase deed or from the date of payment of final installment of the consideration amount, whichever is later.
9. 9. What is the procedure for seeking such repatriation?
Applications for necessary permission for remittance of sale proceeds should be made in form IPI 8 to the Central Office of The Reserve Bank at Mumbai within 90 days of the sale of the property.
10. 10. Can foreign citizens of Indian origin acquire or dispose residential property by way of gift?
The Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of properties up to two houses by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin, whether resident in India or not, provided gift tax has been paid.
11. 11. Can immoveable property held in India be transferred by way of gift to in India?
General permission has been granted by Reserve Bank to non-resident persons (foreign citizen) of Indian Origin to transfer, by way of gift, immoveable property held by them in India to relatives and charitable trusts / organisations subject to the condition that the provisions of all other laws, as applicable are complied with.
12. 12. Can foreign citizens of Indian origin acquire commercial properties in India?
Properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin 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. A declaration has to be 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.
13. 13. Can they dispose of such properties?
Yes.
14. 14. Can sale proceeds of such property be remitted out of India?
Yes. Repatriation of original investment in respect of properties purchased by foreign citizens of Indian origin on or after 26 May 1993 can be remitted up to the consideration amount originally remitted from abroad provided the property is sold after a period of three years from the date of the final purchase deed or from the date of payment of final installment of consideration amount, which ever is later. Applications for the purpose are required to be made to the Central Office of Reserve Bank within 90 days of the sale of property in form IPI 8.
15. 15. Can the properties (residential/commercial) be given on rent if not required for immediate use?
The Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income are eligible for repatriation.
16. 16. Can NRI’s obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?
The Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC and authorised dealers to grant housing loans to non-resident Indian nationals for acquisition of a 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.
17. 17. Can Indian companies grant loans to their NRI staff?
The Reserve Bank permits Indian firms to grant housing loans to their employees deputed abroad and holding Indian passport subject to certain conditions.
18. 18. Can an authorised dealer grant a housing loan to non-residents of Indian nationality where the NRI is the principal borrower with his resident close relative as a co-obligant / guarantor or where the land is owned jointly by such NRI borrower with his resident close relative?
Yes. However in such cases the payment of margin money and repayment of loan installments should be made by the NRI borrower.

Disclaimer:
The purpose of this FAQ is to provide the visitors a general understanding on the various issues relating to House Property. The above FAQ been prepared on the basis of advice received and may vary from person to person, based on facts of such case. Reasonable efforts have been taken in collecting, preparing and providing quality information, but we do not warrant or guarantee the accuracy, completeness, adequacy or currency of the information. The contents of the FAQ are subject to changes / amendments made by the CBDT / Finance Ministry.

Referral Program
Purchasing property with S.R.R. Homes entitles you to many benefits and our referral scheme is one.

How does the referral program work?
Once you have purchased property with us all you need to do is refer a friend or family member to us and if they purchase a property you are eligible to earn up to Rs.1,00,000. The more friends and family that you successfully refer the more money you are entitled to receive. This is a great incentive for those who purchase property with us. We are dedicated to first-class customer service and we guarantee that your friends and family members that you refer will benefit from our excellent service.

What is the first step?
All you need to do is send us the details of your friend/s, and when we contact them just ask them to mention your name.

How much will you earn?
We'll pay you up to Rs.1,00,000 for every property purchased following one of your successful leads.

How quickly will I receive my money?
The referral fee will be paid after receiving 50% of the payment from the customer.The referral fee will be paid against any completed sale as a result of a documented referral. The fee will be paid by Bank Transfer, provided the commission has been paid to S.R.R.Homes by the Purchaser.

Why does S.R.R. Homes pay out money for the referral program?
The excellent quality of service and customer services that we’ve provided to our clients has been the backbone of our business and the reason that our customers recommend us to their friends and families. This is reflected in that 40% of our new customers come from recommendations from our existing customer base. This new referral scheme is our way of thanking them for endorsing us in this way to their friends – we want to reward them and encourage them to continue doing so.