ROTONDA HEIGHTS - FAQs                                                                                                                             

Deed Restricted Community


 Frequently Asked Questions 
 
1 Where is Rotonda Heights?
A Rotonda Heights is a deed restricted community located in Charlotte county, on the southwest coast of Florida.
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2 What is a deed restricted community?
A Communities where subdivisions are conditioned upon restrictions in deeds, as required by the Planning Board, and other restrictions may be imposed by the developer who owned the subdivided land where the community is built.

For example, a community may require each owner to have a right of first refusal to another member of the community before selling outside, or may limit the types of structures or uses that may be made of the properties in the community. (e.g., no home-based businesses)
 
3 Which are the cities and beaches near Rotonda Heights?
A Port Charlotte, Cape Haze, Manasota Key are the nearby cities and Punta Gorda Beach and Englewood Beach are the nearby beaches.
 
4 What is the scale of the project?
A This is a large non gated community comprising over 5,000 villa LOTs.
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5 Is the property Freehold or Leased?
A All LOTs are freehold and ready to build, with water and sewerage available.
 
6 What is the size and cost of LOTs available?
A All LOTs have an area of 7,500 Sft and the cost per LOT is $ 15,000.
 
7 Is loan facility available for purchase of this property?
A Loan facilities could be availed, but being a small ticket investment, we are keen on investors who can manage through their own sources.
 
8 Will it assure me a visa to USA?
A No.
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9 How do I resell the property? Will Artha Property help and charge commission?
A Artha Property will facilitate the sale. However there is no buy back or assured resale. Customers are free to resell property on their own.
 
10 Will Artha Property arrange for a site visit?
A Customers are free to visit the site at their own cost. Artha will facilitate the visit. But being a small investment and given the time frame customers can immediately go-ahead with purchase.
 
11 What is the registration process?
A The registration process is carried out with the help of appointed solicitor through Stewart. Stewart is a title insurance, closing and settlement services, and land records Management Company that facilitates successful real estate transactions.
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12 How soon should I construct the Villa if I wish to? What is the cost incurred?
A There is no pre-specified time frame for construction. Cost of construction would be around $ 60,000 for a built up area of 1200 Sft. (for a 2 or 3 BHK Villa)
 
13 What is the price list and payment schedule?
A
Price List  
LOT Price (Rs) to be 6,75,000
Facilitation fee to be paid to Artha (Rs) 1,50,000
Legal fee (documentation + transfers + lawyer fee + stamp duty + registration) (Rs) 1,50,000

Customer has to pay the amount in entirety as this is a outright purchase of land.

Booking Fee : 15% of LOT price ( Day 1)

Remaining cost: 85 % of LOT price + Facilitation fee + Legal Fee ( 30 days from date of Booking)
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14 Would I be required to pay any annual maintenance fee for my LOT?
A Approx $100 (these are indicative and are subject to minor changes)
 
15 What is the mode of payment?
A The payment of $15,000 to be paid by cheque favouring sellers Escrow account. And all payments made towards Artha Facilitation charges to be paid by cheque favouring Bennett, Coleman & Co Ltd.
 
16 Is this a gated community?
A No.
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17 How is my land and title protected?
A Customers will be provided with title insurance there by their land and title are protected.
 
18 What is the exact registration process?
A
1 The whole transaction can take place in email, fax or through the mail for your convenience.
2 Contact our relationship managers to check availability; they will help you choose the plot.
3 For cash transaction the lot would close within 14 days.
4 We use Stewart Title for all our closings. They are listed on the New York Stock Exchange and have been in business for 115 years.
5 You will receive title insurance guaranteeing clear title on your new lot.
6 The closing takes place in the mail or through email with a title company located near the land.
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19 Is title insurance available? How does it work? What does it guarantee me?
A Yes, Title insurance is available. Title insurance in the United States is indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. It is meant to protect an owner's or a lender's financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.
 
20 Are houses already built and people staying in nearby LOTS?
A Yes, there are few houses already built and people are staying in the same.
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21 Is it compulsory to become member of association post buying the LOT?
A Yes.
 
22 What is cost of association membership? What benefits does that offer?
A The yearly association fee is $75.00 and the yearly property taxes of around $250.00. These are the only fees you would pay per year. The associations work is to maintain the common areas of the association, such as mowing road rights of way and maintaining the lakes, which are a major part of the drainage system.
 
23 Does Artha guarantee title and can it be held responsible for any mis-hap in future?
A Artha is purely a marketing agent for these LOTs, and has done its due diligence with respect to the LOTs on offer, however customers are requested to exercise their own judgement and perform necessary checks before investing. They shall be investing on their own accord, without any recourse to Artha or any of its affiliates or group companies.
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24 What are the nearest places of interest?
A The project site is only 4 miles (6KM) from the Gulf of Mexico and 7 miles (10.5 KM) from Englewood Beach. A spectacular beach community 5 miles (7.5 KM) away is Gasparilla Island where the famous tarpon fishing Boca Grande is located.

The project site is between Sarasota and Fort Myers and is part of Charlotte County, Florida.

Disney World and other Orlando attractions are less than 3 hours away. The project site is located 20 miles (32 KM) west of Interstate 75 (Highway) and 41 miles (66 KM) from the Sarasota Airport.
   
25 Are there any restrictions in buying land in the US? Do we need to apply to any govt authority in India or abroad?
A There are no restrictions in buying land in the US.
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26 What is the payment mode? Is that covered under the automatic transfer route?
A Can use credit cards (Visa, MasterCard, American Express) a wire, check or Paypal.com for the down payment.