Question 1

Can i use my own Property?

Accepted Answer

Yes,Whereas every listing Comes with the specified usage rights. Please check before buying a BRIK.

Question 2

How it is decided when to sell the property?

Accepted Answer

Whenever 6 or more members are willing to exit then the property will be listed for re-acquisition 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 benefits.

Question 3

What are the cancellation charges?

Accepted Answer

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.

Question 4

What are the charges of BRIK itt

Accepted Answer

There are 3 types of charges –
Conveyance Charge
Hurdle Charge
Management & Operational Charge

Question 5

What is the proof of ownership?

Accepted Answer

Yes, 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.

Question 6

How can i track my progress?

Accepted Answer

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.

Question 7

How do you calculate returns?

Accepted Answer

There are two types of returns in a financial year an owner is entitled to Firstly, the Capital Gains those are organic in nature and are market dependent and 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.

Question 8

What can be done with the BRIK?

Accepted Answer

The 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 hasslefree transfer-ability
Sell It- You can sell it to anybody

Question 9

How do i Exit?

Accepted Answer

The 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.

Question 10

What are the tax implication?

Accepted Answer

You are entitled to pay Property tax of the property owned and income tax on the returns you get.

Question 11

What happens if BRIK itt goes out of business?

Accepted Answer

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.

Question 12

What are the areas of Due Dillgence?

Accepted Answer

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.

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