Sruthika Springfields – FAQ’s

Where and what is Sruthika Springfields ?
Sruthika Springifled is located on Singapura Main Road, close to Gangamma Circle near BEL Circle.

It is a Residential Development spread over 4 Acres of land with multiple blocks in a low rise development along with a Clubhouse. There are about 360 UNITS in all.

What is the distance from M.G. Road?
The distance is approximately 18 kms. The project is 4.5 km from BEL circle on Outer Ring Road (ORR).

How do I reach the site ?
From BEL Circle on ORR, take the road to Gangamma Circle, continue towards Jalahalli Airforce Station (East) and take the left before the Jalahalli Airforce Station gate. Continue on the road past Kuvempu Nagar, till you reach Singapura. The project is on the Right side of the Singapura Main Road.

What are the different types and sizes of Apartments?
There are Apartments to fit different family sizes and budgets.

Type Area in Sq.ft. (Super built up area) No. of Bedrooms No. of Balconies
2 BHK 990 Sq.ft. 2 1
2 BHK 1008 Sq.ft 2 1
2 BHK 1188 Sq.ft 2 2
2 BHK 1215 Sq.ft 2 2
3 BHK 1377 Sq.ft 3 2
3 BHK 1404 Sq.ft 3 1
3 BHK 1611 Sq.ft 3 3
3 BHK 1809 Sq.ft 3 3

Is there differential pricing based on the floors or orientation of Apartments?
Yes. There is a differential pricing for Apartments. The East Facing Apartments will have a premium of Rs.50/- per sft over other apartments. Please refer to the price list for details.

Is there a Clubhouse and what are the facilities?
Sruthika Springfields Clubhouse will host facilities like an exclusive Swimming Pool, Toddler’s Pool, Gymnasium,Party Hall,Yoga Room and Billiards Table.

How do I book my home at Sruthika Springfields ?
Identify your Apartment
Fill in the booking application form
Pay by Cheque/DD

What happens thereafter?
Based on your application and priority you will be offered the Apartment available. On confirmation of the Apartment number you will be required to pay 15% of the sale value.

You will have to make another payment of 5% and enter into Sales agreement and issue Post dated cheques for the rest of the amount.

When do I get a confirmed allotment?
On payment of 20% of the sale value and submission of post dated cheques for the balance, the Sale agreement will be done to confirm the Allotment.

Can I make 100% down payment? What will be my benefit?
Yes, for Flats in BLOCK F and G, you can make 95% of the unit value against which you can avail of a discount of 10% of the unit price. The balance 5% will be payable on possession. This scheme is valid for payments made on or before 30th APRIL 2015. If you are taking a loan then it will be your responsibility to ensure that the bank/housing finance institution disburses this amount to Sruthika Builders 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 20% of the sale value as stipulated to get the allotment confirmed.

How are installments to be paid and is it time bound?
Installments are to be paid by means of post dated cheques – this is a pre-condition of the allotment. The schedule of payment is mentioned in the cost sheet. The payment is on a time bound basis as mentioned in the payment schedule.

If cheques are dishonored the booking stands cancelled.

Will there be a validity for the price list?
Prices are subject to change from time to time.

 

What happens if I cancel my booking?
Why would you want to miss out on such an unprecedented product offering? However, if you do cancel after booking, then 1 % of the sale value will be forfeited as cancellation fee and the balance will be refunded within 4 weeks without interest. In case the booking is cancelled post agreement execution then 10% of the sale value will be forfeited as cancellation fee.

When does the development start and when can I expect to move into my new home?
The construction is in Full Swing. We have started work on 5 Block and flats are being handed from April 2015 onwards.

Are modifications permitted in the Apartments?
The specifications and designs have been carefully worked out. Considering the number of apartments and the delivery date, customization will not be possible in the collective interest of the purchasers. However, if you want to get some woodwork done inside the apartment, then it can be handed over to you before the final painting.

What about car parking space?
We can provide one car parking space for every apartment. Additional car parking requests will be taken up towards project completion.

Is the title of the property clear?
The land is freehold, marketable and free from all encumbrances.

Have all the approvals been obtained?
Yes, all the necessary approvals have been obtained.

What are the agreements that need to be signed?
The following agreements need to be signed:
Agreement to Sell
Agreement to Build
Followed by a Sale Deed

What is the process of Registration and when does Registration take place?
Registration will be done only on completion of the development and on payment of the entire sale consideration including the additional amounts. Registration will be facilitated by us through an Advocate appointed by Sruthika Builders.

What are the additional amounts to be paid?
BESCOM & BWSSB Charges, Registration Charges, Service Tax/VAT, CORPUS FUND, Advance Maintenance Charges, Generator Charges, Khata, Assessment Charges & any other taxes, as applicable.

If I am availing a Housing Loan, do I still need to issue post dated cheques?
Yes, you are required to issue post dated cheques which are mandatory to get an allotment. These will be returned on receipt of the payment from the bank/housing finance institution.

What is my responsibility for disbursement of installments through the bank/housing finance institution (HFI)?
It is your responsibility to ensure timely disbursement of installments from the bank/HFI and no demand will be made by us to them for the same. To facilitate smooth payments, customers are required to issue a consent letter to their respective bank/HFIs.

Who will take care of the maintenance of Sruthika Springfields ?
The maintenance will be taken care of by Sruthika Builders Property Management & Services. You can be rest assured that Sruthika Springfields will be looked after by professionals.

What is the scheme of Maintenance?
A sum of Rs. 24/- per sqft will be charged as an advance maintenance fee for the first year and will be collected at the time of registration of your flat. From the second year onwards, maintenance charges will be levied on an annual basis payable in advance. All future payments are to be made favoring the Property Management Company. An additional sum of Rs.50/- per sqft corresponding to the super built area will be collected as CORPUS FUND. This amount will be deposited in an escrow account and the accruals will be used for major expenditure.

What happens if I have any more questions/clarifications?
Please email us at: info@sruthikabuilders.com or
Call us at 7022267294 or 7022267296,
Alternatively, you could meet us at our Site Office : No 219/46 & 47/1, Singapura Main Road, Jalahalli (East), Bangalore 560097.