Tuesday, 5 October 2010

What is the real cost of your new flat or villa?

Most property developers as you might know quote the price per sqft. So your 1200 sqft flat costs Rs.1200 X sqft? What you need to know is that a plethora of other charges that comes along with it. Unfortunately there seems to be as many different ways of pricing as the number of builders. While the base rate might be the square feet rate multiplied by the area, the actual cost of owning a property might differ a lot. (In most cases higher than a new buyer might expect) For example there are some builders who include the parking charges along with the sqft rate while there are others who charge up to 2.5 Lacs for a dedicated parking space.

Statutory charges are what you need to pay apart from the construction cost. Some builders give a bundled price which may include some of these charges. Statutory charges include Service tax, VAT etc. All of these charges may not be completely known to the buyer beforehand.

Some thing like round the clock security looks attractive, but actually it has nothing to do with neither the construction nor the project as a whole, as it is the residents association that needs to provide and maintain the security personnel.

Apart from all these, there are the registration and stamp duty charges when you want to make that property your own legally.

See also : Why KeralaListings?
                Do KeralaListings offer best prices?
                Which project? They all look same!               
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