This page answers the more commonly asked questions. If you do not find answers to your questions here, please contact us and one of our consultants would be happy to assist you.
How do I buy a villa at Ambrosia Residency and Spa?
The process of buying is very simple.
Decide on an available lot. A U.S. Holidays Realty advisor will arrange for an Agreement of Sale to be sent to you by courier.
Within 7 days you must sign the contract in the presence of a Notary and return the agreement back with a wire transfer of 250,000 Rupees (Approx. US$6,250). Failure to do this within 30 days can result in your selected lot being sold to someone else.
Within 30 days you need to send the balance of the 20% initial deposit. Construction will commence of receipt of the full 20%
30% is payable by the 60th day from the date of Agreement of Sale
20% is payable on completion of the masonry
20% is payable on completion of electrics and plumbing
10% is payable at closing
Before every instalment, a certificate from the Architect will be sent to you certifying the completion of the relevant work.
How can I finance my purchase?
Most people buy in cash or by refinancing their primary homes. Many banks and financial institutions can assist you. We do have access to other private finance schemes too.
How will I get the necessary licenses?
All licenses for construction have been acquired by the developers on a phase by phase basis. You do not need to do anything.
Who will my purchase agreement be with?
The contract for the purchase of your villa with be with the Developer. U.S. Holidays Group Realty are the exclusive global sales and marketing agency for the community and will act as an unbiased intermediary to assist you with every aspect of your purchase. We have our own attorney in Mumbai, India who will, for a fee, oversee your purchase from contract to completion.
Will U.S. Holidays Group Realty charge me for their services?
No. There is no charge for U.S. Holidays' services to you. You pay only the builder for the property you are buying, and an attorney, if you require one, for any legal services relating to your purchase. We are commissioned by the developer as an independent licensed broker.
Are there any other costs?
At the time of sale deed, there will be stamp paper (also referred to as stamp duty in some countries) and registration charges imposed by the Indian Government to convey the proportionate share in the property in your favour, plus lawyers fees for the paper work, appointment with the sub Registrar and the registration of the sale document. This will be at a cost of approximately US$1500 (plus or minus 20% depending on the prevailing rate at the time of closing) per property.
There is a Rs.40,000 booking fee which covers a certified due diligence title report from an Independent law firm and other sundry admin and communication services.
Other costs are a new 3.5% service tax imposed by the Indian Government in the 2005 budget for all new villas and construction. There are also legal fees to oversee all the interim documentation if desired. We have negotiated a special rate of US$1,000 with an attorney in Mumbai, India for all purchases at Ambrosia. This is not compulsory but we do advise that you take advantage of this facility for your peace of mind.
How long will the villa take to build?
Each villa is custom designed and planned. Once you place your initial deposit within 30 days of signing the contract, construction will begin. Delivery of your villa will be within 12 to 18 months from that date.
How will I furnish my villa?
The builders and developers have used their purchasing power to put together a comprehensive, carefully planned, brand name furniture package which is included in the price. This includes all appliances and cabinets.
Who will manage my property after it is built?
The developers have appointed an experienced management company for Ambrosia. This company will look after every aspect of your property and the communal areas. Upkeep of the common areas will be funded from the Home Owners Association fee (commonly known as rates in the United Kingdom). More details of the Manager can be found here.
What are my fixed running costs?
The approximate running costs include Rs.4,000-6,000 per annum for real estate taxes, Rs.1,500-2,000 per annum for electricity, Rs.1,000-1,500 per annum for water, Rs.1,000 for Cable, Rs.1,500-2,000 Home Insurance (depending on the size of the villa), Rs.1,000 for telephone, Rs.10,000 + 10% surcharge per month Home Owners Association dues which cover maintenance and upkeep of the common areas and resort amenities and Rs.5,000 for management fees (optional). Internal and external maintenance of the villa is the responsibility of the owner. There may also be miscellaneous maintenance charges from time to time as necessary, and management fees.
Are there any special offers?
Yes there are. Please contact us for the latest promotions. These offers can be withdrawn at any time and without notice.
What is the legal status of the property?
The property is freehold with clear and marketable title. Indian real estate rules and regulations award you a proportionate land holding of the entire community and full ownership of the dwelling (the villa).
Are there any restrictions on who can buy at Ambrosia Residency and Spa?
