FAQs
Pre Ownership
Yes, whereas every listing comes with the specified usage rights. Please check before buying a BRIK
BRIK itt will not encourage you to withdraw before lock-in period, whereas in case of such unavoidable circumstances cancellation charges are as per the investment memo of the individual property bought.
Whenever 6 or more members are willing to exit then the property will be listed for reacquistion or sale. which ever will be favorable. However, our AI powered digital dashboard will be providing you with the current opportunities and suggesting you the right time to churn maximum benifits.
There are 3 types of charges-
- Conveyance Charge
- Hurdle Charge
- Management & Operational Charge
Post Ownership
Every BRIK owner will be made a Fraction Owner of a SPV (Special Purpose Vehicle) which holds the entitlement of the property and shares the equal ownership rights. And The property will be managed by BRIK itt.
We provide you a digital platform with the personalized dashboard, which gives you the benefits of buying and tracking the information of your each and every BRIK you own.
There are two types of returns in a financial year an owner is entitled to
Firstly, the Capital Gain which is organic in nature and are market dependent.
Secondly, the Rental yields which are derived by the BRIK itt business model, you get your rental yields after you buy a BRIK. Once you have made all installments, you are entitled to enjoy the returns. Your returns start getting calculated only and only after the full payment of the BRIK is made and not during the installment period.
Our Proud BRIK owner enjoys a number of freedom of usage which includes but not limits you to Use It– Every BRIK owner can use the properties with usage rights, for 30 days a year.
Gift It– It can be gifted to your loved ones.
Transfer It– The BRIK comes with hassle-free transfer-ability.
Sell It– You can sell it to anybody
Every BRIK comes with easy liquidation opportunities. There is no restriction on selling, Gifting & transferring of the BRIK. The owner gets full freedom of selling the BRIK at his desirable value after the lock in period.
You are entitled to pay Property tax of the property owned and income tax on the returns you get as per your income tax slab.
In any future unavoidable circumstances, if it happens, you own a real tangible property, your investment never dies, only the management part of the property will be hampered.
Every property is zeroed upon if it passes all the compliance of these four key areas of Due Diligence.
Property – Detailed inspection of fundamentals like property info, timeline, budget, zoning and entitlements, architectural plans, title report.
Market – Analysis if micro environment related to opportunities and risks like property appraisal, market overview, market demographics, comparable and location map.
Legal – Legal and security structures, rights, responsibilities and remedies.
Earning potential – Every property is selected on the basis of viability of different business modules that can be implemented on it to fetch highest returns.