Calculate Actual Cost of Apartments in India
Apartments in India are the dream of every individual. It is also considered as the largest investment of lifetime.
But before anyone prepares the budget for their apartment in India, he should consider several added expenditure over the cost of the apartment.
Floor rise charges of approximately Rs 25 per sq ft will be added to the number of floors. Infrastructure development fee and one time membership fees to join the apartment communities also add some value over the price of the flat. Also, the Utility connection charge, maintenance charges and transfer fees are added by some builders for the future maintenance of the property.
Apart from these stamp duty, bank charges for housing loan, car parking charges and 2 to 4 percent of brokerage charges paid by a customer also cost the buyer some additional amount.
In the end, the amount paid by a buyer to purchase an apartment is almost 27% higher than the actual cost of the apartment.
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Source: Economic Times
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