Buyers Guide

Home Selection Criteria

While selecting the ideal home, you need to keep the following factors in mind

Connectivity to the city, easy access to bus stops, railway stations, transportation services. Proximity to civic and recreational amenities like educational institutions, police stations, healthcare facilities, parks, temples, restaurants and eateries.


Does the location fit your budget?

Place of employment

How far is your office from the location where you're planning to buy a home?

Markets nearby

Is there a market in the neighbourhood or grocery shops and convenience stores?


Where is the nearest school or college?

Public transport Facilities

Is public transport easily accessible from the location?

Place of worship

How far would you have to go for prayers?

Entertainment facilities

What are the available options of theatres, restaurants & cafes in the neighbourhood?

Retail Facilities

Are the shopping destinations near enough for your last-minute shopping requirements?

Relatives and friends

Proximity to your loved ones is always an added bonus.


Does the real-estate developer have a good reputation?

Water and electricity

Is there a steady supply of both?

Hospital/ Medical services

Are medical facilities easily available near the project?

Monthly Society maintenance

Is the monthly society maintenance a strain on your budget?

Safety and Security

Is there a security system in place, like a professional guard or an electronic facility?

Disclaimer: The information provided herein is just for reference purpose collected from various sources. Rajesh LifeSpaces shall not be responsible for any changes in policies.

Home Loan Facts

Fixed or floating? A vast majority of the banks have discontinued the exercise of providing home loans with fixed rates, though there are still some of them who provide such loans. Presently the interest rates have taken a back seat, so it’s best to opt for floating rate loans. Other than this, the differential factor between floating and fixed loan rates is 2 percentage points- which majorly depends upon the lender.

Banks charges a certain amount of fees to process home loans. It differs from one bank to another. A few banks charge no fees whereas others may charge 0.3 per cent to one percent of loan amount.

Banks arrive at the base rate after looking at their cost of funds and other factors. Hence, it is varies for every bank. Loans by banks are related to their base rates (below which they cannot lend). The loan rate is usually base rate plus a margin, for example, base rate plus 50 basis points or bps.

The base rate may vary from time to time, but the bank cannot alter the spread or the margin at which it has offered loans to existing customers. For example, if the base rate comes down from 10% to 9.75%, the interest rate for existing customers will fall from 10.5% to 10.25% (considering a spread of 50 bps)

Banks can offer new loans at a higher or lower margin, for example, base rate plus 25 bps. So, for the new customer, the rate will be 10% (base rate at 9.75%), while old customers will continue to pay 10.25%. There are two ways to deal with the problem of differential rates. One, you can transfer the loan to a bank offering a lower rate. This is now easy, as pre-payment penalty on floating rate loans has been abolished. The new bank will charge only a processing fee of 0.5-1% of the outstanding loan. Some banks may even waive the fee

Disclaimer: The information provided herein is just for reference purpose collected from various sources. Rajesh LifeSpaces shall not be responsible for any changes in policies.


An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non- resident Indian citizens (NRIs).

A person of Indian origin means a foreign citizen (other than a citizen of Pakistan or Bangla desh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who: - held an Indian Passport at any time, or - whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955

Under the general permission available, the following categories can freely make purchases in immovable property in India:

  • Non-Resident Indian (NRI) - that is a citizen of India resident outside India
  • Person of Indian Origin (PIO) - that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
    • At any time, held Indian passport, or
    • 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).
    • The general permission, however, covers only purchase of residential and commercial property

The Reserve Bank has granted some general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc, and authorised dealers to grant housing loans to NRI nationals for acquisition of a NRI 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.

The Reserve Bank has granted a blanket permission to NRIs to purchase property in India for their residential and commercial purposes. There is also no limit on the number of investments or the quantity of investments that can be made in real estate. The immovable property can be purchased by inward remittances from any place outside India or through funds maintained in NRI accounts in the banks within the country.

FEMA stipulates that before making a purchase a specified form called the IPI 7 needs to be filed with the central office of the RBI along with the title deed or any other certified copy of the document proving that the NRI has executed an agreement to purchase property within the country. The form has to be filed within 90 days of the purchase of property and has to be accompanied with a bank certificate stating the consideration paid for the purchase. Permissions are generally granted without undue delays if all the relevant papers are submitted.

Yes, under the general permission granted by the Reserve Bank of India, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward payment in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India and a declaration is 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.

Capital Account Transactions means transactions which alters the assets or liabilities, including contingent liabilities outside India of an NRI. It includes transactions involving acquisitions or transfers of immovable property outside India, other than a lease not exceeding five years by an NRI or a resident, remittances outside India of capital assets of an NRI and foreign currency accounts in India of a person resident outside India. Even deposits between a person resident in India and a person resident outside India are considered as capital account transactions.


All NRI investments in real estate or immovable properties are considered as transactions that get regulated under the FEMA. This is essential as an NRI would be dealing with foreign exchange. It is considered to be a type of transaction which is bound to have some international financial implication. The current account transactions or capital account transactions of the NRI which are used to make investments in real estate thus gets automatically regulated under FEMA. Current Account Transaction consists of payments due as interest on loans and net income from investments.

To read more on FEMA visit


These are the five major objectives of RERA, 2016.

  • To establish the Real Estate Regulatory Authority (RERA)
  • To promote transparency and efficiency in the sale of real estate projects
  • To protect the interest of consumers in the real estate sector
  • To establish an adjudging mechanism for speedy dispute settlement
  • To set up an Appellate Tribunal to hear appeals from the decisions, directions or orders of the RERA

Yes, this act is applicable to all Indian states excluding Jammu & Kashmir.

Initially, the bill was supposed to cover only residential projects. On further amendments, commercial projects including shops, offices and buildings were also included.

Yes, A Central Advisory council will be set up to advice the Central Government on the implications of the Act to recommend policies in order to protect consumers’ interest and to supervise the growth & development of the real estate sector. In addition, there will be a dedicated Appellate Tribunal set up for RERAs to hear appeals from orders of the RERAs and the adjudicating officer.

  • As per the RERA rules, the consumer is entitled to receive information about the sanctioned plan, approved layout plan, stage wise progress of the project, carpet area and facilitation of basic amenities & services such as drinking water, electricity, sanitation etc.
  • The consumers can claim possession of the unit and the association of consumers can collectively claim possession of the common areas as declared by the real estate developer
  • In case the real estate developer fails to meet the timeline or does not deliver what was promised then the consumer has the right to claim refund of amount paid with prescribed interest and compensation for the same
  • It is mandatory for the consumers to make payments on time to the real estate developer as per the agreement. He/she is also liable to pay the share of registration charges, municipal taxes, maintenance charges, ground rent, electricity charges, water supply charges etc.
  • Once the real estate developer issues the occupancy certificate, the consumer is required to take possession within two months
  • The consumer is liable to pay prescribed interest if he/she fails to make timely payments for his purchase
  • It is mandatory for a consumer to actively participate in the formation of an association, a consumer federal or any cooperative society
  • A consumer must participate towards the registration of the conveyance deed of the unit

FAQ's About Us

White City, Raj Infinia, Raj Dwarka in western suburbs Raj Torres & Raj Tattva in Thane West

Raj Altezza in Mulund west and Raj Grandeur in Powai

Rising City, Chembur East and 92 Bellevue, Borivali West

Our upcoming projects are at following location: Borivali, Kandivali, Andheri, Vikhroli, Powai, Mulund, Churchgate, SBLR & Bhandup.

No, we don’t.

Yes. The company was established as Rajesh Builders. In the year 2012, it was re-branded as Rajesh LifeSpaces.

In the year 1962

Late Mr. Raghavjibhai Patel is the organisation's Founder and Thought Leader.

Over 100 delivered projects across the suburbs of Mumbai

We have built a number of residential as well as commercial properties across Mumbai.

No, all our projects are based in Mumbai

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