you wish to buy a home that goes easy on the pocket, be prepared for the additional costs buying home Pune buyers often overlook. Beyond the property price, there are charges before and after ownership that can significantly impact your total budget.
Mentioned below are the extra charges that you will have to pay after buying a home:
Preferential Location Charges (PLC) :
Based on your preferred floor or direction like east-facing or corner flat, these charges are builder based. A lot of developers also charge more for units that are amenity-facing.
Additional Costs Buying Home Pune Buyers Face
Maintenance Charges :
According to a new trend, developers now charge maintenance charges. These charges may range from a period of 2 years to 10 years and even for a lifetime in a few places.
Stamp duty, taxes & registration fees :
The registration fees and stamp duty varies from state to state. Under construction, properties charge for VAT and service tax.
Brokerage :
Brokerage is the fee charged by the broker, the middleman between the buyer and the seller. On an average, a broker charges 1% to 2% of the property cost.
How to Budget for Hidden Charges
Cost of Interiors :
Often, after taking possession of the property, you may want to make a few changes to the interiors and end up spending quite a lot of money. The amount you spend on the interiors will depend on the type and nature of interior work. On an average, approximately 2% of the cost of property, if not more, is spent on the interiors.
When you are investing so much money in a home, you must make sure that you get a good quality home and there will be 100% transparency in the transactions.