We believe in declarations of our legacy
Legacy is created by passion, trust and integrity. Our passion for building better sustainable homes has gained us our costumer’s trust. Our integrity has created cultural movement in the housing sector.
Triveni Developers are pioneers in building homes that are work of art. The designs are elegant and contemporary in nature and we are proud of our unique innovations. Triveni Developers journey began by building greater homes has given us an upper hand and we have become the leaders in the competitive market by our integrity.
We have created homes that are niche. Our vision is to build homes that are better, saves mankind and nature by its healthy and eco-friendly designs.
The core value of turning dreams homes into reality became the mission of Triveni Developers.
We celebrate our milestones by offering something to the customers who have been an integral part of our Triveni Developer family.
In the past years we have embark on a journey to create, built and be consistent in our landmark projects and we are able to do with skilled professionals who have vast knowledge and experience in the realty sector. Every architect and contractor is hand picked by us so the quality and construction is uniform and in sync with the current trends.
We at Triveni Developers give luxury importance and we create lifestyle by using innovative technology in building homes by using traditional means.
We believe in building relations and maintaining it by giving facilities that our customers expect from us. We arise by giving flight to future.
The road leads here and it is called “Home"
We strive to set benchmarks to evolve with time and that are way ahead of their times. We aim to adopt a futuristic stance where technology and architecture blend together to create exemplary lifestyles.
Our Solidarity aligns us with the desires of our customers where we aim to mould and fine tune their wishes to build the house of their dreams; wherein their happiness streamline our efforts to offer them the best.
Our project is executed with the help of the finest architects, designers and contractors, and the end result is always splendid. Our homes are designed to interact with nature minimising the load of electricity.
Our projects are resplendent masterpieces
Our projects are resplendent masterpieces of sophisticated lifestyle choices that bear our stamp of uncompromising streak for perfection.
A Leader is one who knows the way, Goes the way and shows the way
A first generation entrepreneur,Mr.Ashok Jethwa, MD and Founder of Triveni Developers, is the driving force behind the organisation. A man of many laurels, it is his passion for innovation and a zest for excellence that sees the company rising steadily through the tiers. His vision for comprehensive and sustainable growth is backed by extensive knowledge that lies in sync with his industry experience of three decades.
As part of the succession plan Mr.Mihir Jethwa, MBA (Finance) joined the company in 2010. Instrumental in spear heading the growth mantle of Triveni, he's a dreamer with a difference. With an amalgam of Passion for constantly innovating to make advancement in technology, he strives to be a constant learner. A man with vision, determination and the dogged perseverance to realize his dreams, he continues to drive the organization towards a leadership position in the construction business.
We strive at benchmarks to evolve with time and that are way ahead of their times. We aim to adopt the futuristic stance where technology and architecture blend together to create exemplary lifestyles that are inspired lessons in non-conformity and individualistic zeal.
Our solidarity aligns us with the desires of our customers where we aim to mould and fine tune their wishes to build the house of their dreams; wherein their happiness streamline our efforts to offer them the best.
To build the house of their dreams
With a healthy repertoire of projects that stand testimony to the promises made and expectations surpassed, this achievement comes easy. With values of trust, flexibility, innovation and adaptability forming the cornerstone of the organization.
Stage of Redevelopment
- Offer letter to the society
- Terms and conditions with the society
- Agreement with the society
- Sanction from MCGM in favour of the society
- Loading of TDR in the society’s name
- Obtaining the IOD
- Shifting of the members
- Demolition of the building
- Obtaining the CC
- Construction of the new building
- Obtaining the OC
- Shifting the old members
Offer letter to the society: The Housing Society is required to advertize in 2 leading news papers inviting the sealed tenders from the Developers and a Redevelopment Committee is formed to shortlist atleast 3 Developers on merits and the comparative data is placed before the SPGM for final selection. The selected Developer is informed accordingly and his terms are invited in writing as an Offer letter to the society
Terms and conditions with the society: The first step towards the re-development is agreeing on the basic terms and conditions between the members and the Developer. The broad terms and conditions will include extra area, corpus money, shifting charges, alternate accommodation, time of re-development, amenities in the new building, etc.
Finalizing the plans with members: After due consultation with all the members, the plan will be made to suit the requirements of the existing members and will be approved by them before applying for sanction from MCGM
Agreement with the society: The execution of the development agreement will be done once the above two points have been cleared by both the parties and after the draft copy of the agreement have been approved by the solicitors of both the parties. It is possible to appoint a common solicitor so as to reduce the time in execution of the document
Sanction from MCGM in favour of the society: After the execution of the development agreement, plans are put up for sanction from MCGM with regards to the entire layout as well as the concession plans in favour of TWO FSI (i.e. plot area + TDR purchased from open market). This step makes the society feel safe and confident towards the Development.
Loading of TDR in favour of the society: On receipt of the plans from MCGM approving the loading of TDR, the Developer will purchase the TDR from the open market in the name of the society and get the same deducted and loaded from MCGM. This step is taken with the intention of making the society feel secure about the entire development process
Obtaining the IOD: After the TDR is loaded, the IOD is obtained from the MCGM, the Developer then starts fulfilling all the conditions as mentioned in the IOD before obtaining the Commence Certificat
Shifting of the members: The members will feel lot more confident after the IOD is been obtained from the MCGM towards the entire development of TWO FSI. The members will now shift into their alternate accommodation as a pre-requisite before demolition of the building which is a must before obtaining the CC from MCGM
Demolition of the building: Once the members have shifted into their alternate accommodation, the demolition of the building will take place either all the wings simultaneously or phase wise depending upon the scheme of re-development. Usually about three months are given to the members from the date of execution of the development agreement before asking them to shift to the alternate accommodation
Obtaining the CC: The IOD approval and demolition of the building will be followed by the issue of the CC (plinth level) by the MCGM which shall enable the Developer to start the construction work and after the plinth lines are verified by the MCGM officers, the further CC is granted for the complete building
Construction of the building: The building construction work will began in full earnest as per the approved plans by the MCGM taking into consideration the various safety factors to be considered during the construction work. The quality and the amenities will be provided as per agreed terms and conditions
Obtaining the OC: The last step before the construction work is termed as complete is obtaining the Occupation Certificate enabling the Developer to allot the occupation to the old as well as the new member
Shifting the old members: On receipt of the Occupancy Certificate the Developer can lawfully allow the possession of the flats to be taken over by their owners
- Home Loan To be eligible for a home loan, the applicant must be at least 21 years of age with a regular source of income from employment or self-employment. The loan must terminate before or when the applicant turn 65 years of age.
- Commercial Loan To be eligible for a commercial loan, the applicant must be at least 21 years of age with a regular source of income from employment or self-employment. The loan must terminate before or when the applicant turn 65 years of age. The loan can be for the purchase/construction/extension of a non-residential property. A loan for renovation will only be given at the time when the property has been acquired. Professionally qualified and self-employed individuals can apply but a minimum of 3 year’s work experience is a necessary.
- Loan Amount The loan amount depends on a number of factors such as age, income, number of dependents, qualifications, assets and liabilities, income stability, business profits, etc. However, there are ways in which to increase loan eligibility and amount. If a spouse or fiancée is earning, applying together as co-applicants can increase chances of a larger loan amount. In such cases, proof of marriage must be submitted. On the contrary, if there are any co-owners they must necessarily be co-applicants. Providing additional security like bonds, fixed deposits and LIC policies may also help to enhance eligibility. However, the most important factor in sanctioning loans is repayment ability. The total cost includes registration charges, transfer charges and stamp duties.
- Disbursement The loan will be sanctioned after the selection of property and submission of the required legal documents. The process might take some time as each document needs to be verified for the safety of the applicant. The 230 A Clearance of the seller and / or 37I clearance from the appropriate income tax authorities (if applicable) is also needed. Once the above has been submitted and verified, the registration of the conveyance deed and investment of the applicant’s own contribution and the loan amount will be disbursed by the bank. The disbursement will be in favor of the builder.
A stamp duty is a kind of tax that is levied on the transactions concluded by way of documentation or instruments. The tax was sealed by the Bombay Stamp Act (1958).
As per the regulations of this Act, the buyer must pay a 5% stamp duty on the cost of the flat. This payment is a pre requisite for the full ownership of property and the consequences for evasion of stamp duty can even lead to imprisonment. For residential spaces that cost above Rs. 500,000/-, the purchaser must pay an excess stamp duty of Rs. 7650/- (plus 5%). For commercial spaces, the stamp duty is simply 5%. However, these rates are subject to change. Once the buyer decides to purchase a residential property, the stamp duty is calculated according to the agreement value or the market value, whichever is higher. The investor will then need to obtain a pay-order, which must be addressed in favor of “Superintendent of Stamps, Mumbai”. After the submission of the pay-order, the agreement is completed and signed by all parties.
The process of registration involves the submission of transaction documents (copies) to the required governmental officer for preservation. Once the stamp duty has been paid on a document, it has to be registered under the Indian Registration Act (1908) with the Sub-Registrar of Assurances of the locality of the property. Unless this procedure is completed, the investor does not have full ownership of the property.
The original copy as well as two photocopies of the document must be submitted to the Sub-Registrar of Assurances. The procedure also includes a registration fee for properties costing more than Rs. 30,000, which is fixed at 1% of the market value or the agreement value, whichever is higher. Once again the value is subject to change. The procedure can only be completed under the presence of two eye-witnesses. When a receipt with a distinct serial number is issued, the procedure is complete.
Signing a title report (received from the solicitor of the property) with any fine print and specific government reservations is unadvisable. Accept clearance reports that are lucid and specific. For instance, if you are interested in buying property that has been built over reclaimed land, make sure that building has been given clearance by the government. Precautionary measures will prevent you from getting embroiled in any future disputes. They will also help ensure that your home loans aren’t scrutinized.
When buying property from a developer, you are entitled to question the company for their permissions and approvals for the property in question. A builder must have a ULC Order (though not always), IOD and CC for the project and the MCGM approved plans in order to begin construction.
When buying a property with loans from specific financial institutions, tax authorities provide certain benefits and exemptions from tax payments. Section 24 of the Income Tax Act states that an investor is allowed to deduct an amount equivalent to the total interest payable on the housing loan from his/her taxable income within the same financial year. If an investor were to take a loan, he/she would receive a deduction of up to 1.5 lakhs on the interest rate paid. The only concern is that the property would have to be bought or constructed within 3 years from the end of the financial year in which the loan was taken and would have to be self-occupied.
According to Section 80c of the Income Tax Act: A deduction u/s 80C (2) (xviii) is available on repayment of the principal during a financial year of up to Rs. 1,00,000/-, this aforesaid limit is within the overall limit of Rs 1 lakh, specified in section 80C of the Income Tax Act. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount. This deduction is taken from the Gross Total Income.
General Permission is available to purchase only a residential/commercial property in India to a person resident outside India who is a citizen of India (NRI) and who is a Person of Indian Origin (PIO).
For the purpose of acquisition and transfer of immovable property in India, a PIO means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who (i) at any time, held Indian passport; or (ii) who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).
NRI/PIO who has purchased residential/commercial property under general permission is not required to file any documents with the Reserve Bank.
There is no restriction on number of residential/commercial property that NRI/PIO can purchase under the general permission available
No name of a foreign national of non-Indian origin be added as a second holder to a residential/commercial property purchased by NRI/PIO.
Under section 2 (ze) of the Foreign Exchange Management Act, 1999 'transfer' includes among others, 'purchase'. Therefore, a foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of purchase.
A Foreign National of non-Indian origin including a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan may acquire only residential accommodation on lease, not exceeding five years for which he/she does not require prior permission of Reserve Bank of India.
A person resident outside India cannot acquire by way of purchase agricultural land/plantation property/farm house in India.
Under general permission available NRI/PIO may acquire residential/commercial property by way of gift from a person resident in India or a NRI or a PIO.
Under section 2 (ze) of the Foreign Exchange Management Act, 1999 'transfer' includes among others, 'gift'. Therefore, a foreign national of non-Indian origin resident outside India cannot acquire residential/commercial property in India by way of gift.
A person resident outside India cannot acquire agricultural land/plantation property/farm house in India by way of gift.
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807, 8th floor, Gold Crest Business Center, L.T.Road, Borivali (W), Mumbai - 92, India
Tel: 022 28920062 | 022 28930062 | 022 28930061
Mob: +91 9892 182006