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Nikunjam Senate Suites is a 108 unit serviced apartment project spread over a G+10 building, consisting of spacious 1 BHK and 2 BHKs, located right in the heart of Trivandrum. Click HERE to know more

As per our latest update on 15 th February, 2019, the cost of an apartment in Nikunjam Senate Suites is priced anywhere between Rs. 53 Lakhs to 1.17 Crores. The additional charges are for GST, Stamp duties, fees and other expenses incidental to the registration of documents, KSEB deposit, Association Corpus fund, share of transformer cabling and Kerala State construction workers welfare fund fee. Click HERE to know more

Glad you asked….Nikunjam Senate Suites has many! One of the many USPs of the project is that Nikunjam Senate Suites is located right in the heart of Trivandrum, on Aristo Junction. Further, the defining aspects of this project is the fact that the project is targeted towards investors who are looking to get major GUARANTEED returns of atleast Rs. 25,000 per month as assured income. This is possible due to the fact that the project will be managed by a professional third party hotel operator. Investors would get a much better yield in terms of returns from a serviced apartment investment rather than a traditional residential apartment due to the fact that they would get potential yields of 9% to 15% depending on serviced apartment operator and how well run it is, as opposed to the fact that rentals from residential apartments are max 3 to 4 percent per year.

Typically, Better occupancy rates are obtained in Serviced Apartments rather than hotels because of long staying customers. Periods of stay ranging from a few weeks even sometimes to a year. Therefore, for the end investor, this results in stable rentals with good tenants as well as this arrangement eliminates the hassles of renting an apartment to an unknown person which also involves a lot of headaches like tenancy agreements, credit checks, etc. We are confident that occupancy levels would reach 60 percent because of the prime location on Aristo Jucntion as well as the presence of a reputed and good Hotel/Serviced Apartment Operator. The hassle of managing property is also with this operator.

Additionally, there would be an immediate capital appreciation of at least 20 percent due to the fact that the TC is being obtained within two months. Once this happens, the building is certified finished and ready to move in and therefore the value increases.

The value proposition further increases because Nikunjam Senate Suites is located in City Center and close to industries that have a lot of business travel ( Technopark), medical tourism ( KIMS, Vasudev Vilasam) and Leisure ( Lulu Mall, Mall of Travancore, Kovalam Beach). This locational advantage gives Nikunjam Senate Suites a huge demand generator from where potential customers would come to stay and avail its services.

Hotel operators offer fixed leases to the purchasers of the properties via a Leaseback option where in the Owner/Investor enters into a long-term agreement by which the property is leased back to the seller at an agreed/minimum rental rate.

Another potential arrangement is that a share of the income generated by that unit (or pool of income) from the operation as a hotel / serviced apartment is given to investor.

The project boasts of superior and curated amenities such as a full size Health Club with Gymnasium, Rooftop Swimming Pool, Restaurant, Coffee Shop, Banquet Hall, Rooftop Party Area, Business Centers, Boardroom, Power Back Up, Open green lush parks, Reserved Parking, Security and many others.Click HERE to know more!

Yes! The floor plans for the project are available. The project has total of 108 serviced apartment units consisting of 1 BHK (665 sq.ft to 1056 sq.ft) and 2 BHK ( 671 sq.ft to 1378 sq.ft). Each serviced apartment type is unique and we have something for all types of investors. Click HERE to know more!

Yes! The layout plan of the project is available.

The possession year of the project is March 2019 with Occupancy Certificate and TC.

Yes! The Project is approved by multiple banks such as South Indian Bank. Federal Bank, ICICI Bank, LIC Housing Finance, PNB Housing Finance, SBI, Corporation Bank, etc

Absolutely! The project has been approved by RERA and has all required statutory approvals such as Commencement Certificate. Once complete, the project will have a Completion Certificate as well as an Occupancy Certificate.

The expected rental yield of the project for a 1 BHK is anywhere between Rs. 25,000 – Rs. 30,000 per month and for a 2 BHK, the rental amount would be anywhere between Rs.35,000 to Rs.40,000 per month.

We would be happy to assist you. Please do call + 91 944 959 76 35/21 and find more details of the Nikunjam Senate Suites. Or drop us an email at : sales@nikunjamsenatesuites.com

The following agreements need to be signed – Agreement to Sell and Construction Agreement followed with a Sale Deed at the time of possession. Yes, of course, we will help with all bank loan processes since we have strong ties with all major leading banks! The booking amount of the project is Rs. 2,00,000.

Typically, if a real estate agent is asked to judge the value of a piece of property, he would do so based on information of recent sales or purchases of similar properties in that area.

Typically, if a real estate agent is asked to judge the value of a piece of property, he would do so based on information of recent sales or purchases of similar properties in that area.

Though this may give a fair idea of the property’s market value, an official property valuation would carry more weight. E.g. if you need to use this piece of property as a security against a loan, the bank’s loan approval process would be faster and smoother if the property is certified by an official evaluator. Many banks now insist on valuation certificates before issuing loans using properties as security. The value thus certified may also have chances of getting a higher amount of loan sanctioned.

Another benefit of official valuation is that it is a useful negotiating tool when selling the property.

Such certification also becomes essential in situations where the correct value of the property has a legal bearing—such as, a will statement, insurance papers, business balance sheets etc.

The price that a property can command in the open market is known as its market value. Stamp duty is based on the market value or the agreement value of the property, whichever is greater.

When ownership rights for a piece of property are given to the purchaser for a price, that property is referred to as Freehold Property. Unlike in the case of leasehold property, no annual lease charges need to be paid and the freehold property can be registered and / or transferred in part(s).

If the transfer takes place within three years of purchase, the income tax exemption under Section 54F of the Income Tax Act does not hold good.

An agreement of sale, coupled with actual possession of the property would be considered as a conclusion of the sale. Usually, the entire amount is paid at the time of handing over possession.

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.

Legally, the actual area owned by the individual is the basis for calculation of maintenance charge.

When a gift of property is made, a gift deed needs to be made by a lawyer. Stamp duty on the market value of the property also needs to be paid, as well as the necessary registration charges.

No. NRI’s do not require any permission to acquire any immovable property in India other than agricultural / plantation property or a farm house.

No. NRI’s do not require any permission to transfer any immovable property in India. Permission is required only in the case of transferring of agricultural or plantation property or farm house to another citizen of India NRI or PIO.

Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property other than agricultural land/farm house/plantation property, in India. They are, therefore, not required to obtain separate permission of Reserve Bank or file any declaration.

The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from any non-resident accounts maintained with banks in India.

Yes. Reserve Bank has granted general permission for sale of such property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India or paid out of balances in non-resident accounts maintained with banks in India.

In the event of sale of immovable property other than agricultural land/farm house/plantation property in India by a NRI or PIO, the authorised dealer may allow repatriation of the sale proceeds outside India, provided all the following conditions are satisfied: –

Authorised dealers can allow remittance up to USD 1 million for any purpose, per calendar year from balances in NRO accounts subject to payment of applicable taxes. The limit of USD 1 million per year includes sale proceeds of immovable properties acquired by the NRI/PIO’s while they were resident in India and held for a period of 10 years and above. In case the property is sold after being held for less than 10 years, remittance can be made if the sale proceeds were held for the balance period in NRO account or in any other eligible instruments.

Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO.

Yes. 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 is eligible for repatriation

Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc., to grant housing loans to NRI’s for acquisition of a house/flat for self-occupation subject to certain conditions. The purpose of loan margin money and the quantum of loan will be at par with those applicable to housing loans to residents. Repayment of loan should be made within a period not exceeding 15 years out of inward remittances or out of funds held in the investor’s NRE/FCNR/NRO Accounts.

Authorised dealers have been granted permission to grant loans to NRI’s for acquisition of house/flat for self-occupation on their return to India subject to certain conditions. 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.

All requests for acquisition of agricultural land / plantation property / farm house by any person resident outside India may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001.