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Planning a house: The price per square foot is often the first figure buyer when considering home. But this is not the whole picture. Many additional fees come with purchases, and they can increase the total cost by about 10 to 12%. (Image: Pixboy)
2 , 7Stamp duty cost: One of the biggest expenses is stamp duty and registration. It differs by the state, usually falling between 5 and 7% of the agreement value. For example, on a flat worth ₹ 1 crore, there will be an additional -5–7 lakhs in stamp duty and registration, which should be paid in advance. (Image: Pixboy)
3 , 7GST at homes: Goods and Services Tax (GST) also applies in some cases. Ready-to-move-in houses are freed from GST. However, if property is under construction, buyers will have to pay 5% GST. For affordable housing projects, the rate is low, at 1%. (Image: Pixboy)
4 , 7Maintenance charges: Builders usually collect advance maintenance fees covering one to two years. These payments lead to maintenance of facilities like lifts, club houses, security and landscaping. In addition, buyers are asked to contribute to a one -time corpus fund, which serves as a reserve for the future needs of the Housing Society. (Image: Pixboy)
5 , 7Parking and floor: The parking space and floor-growing fees are different from the base value of the property. Parking slots and apartments on high floors usually come at a premium. In metro cities, these ad-ons can be an amount of several lakhs, which can lead to a significant difference in the final payable amount. (Image: Pixboy)
6 , 7Legal and brokerage: Legal and brokerage expenses are another component. Even when working directly with developers, buyers should expect to spend about 1% of the property price on brokerage fees. In addition, legal verification of documents is usually between ₹ 25,000 and ₹ 50,000. (Image: Pixboy)
7 , 7Final price check: When determining the budget for property procurement, it is important not to rely only at the builder’s quoted rate. By adding 10 to 12% buffer for stamp duty, taxes, charges and charges, buyers will have a clear approach to the real financial requirement. In real estate, the headline price rarely is the final cost. (Image: Pixboy)