The Hidden Costs of Buying a House in India | Builder Hidden Charges Explained
This video explains important hidden charges while buying flat. Property in India is marketed at base price and then additional charges are added on to it. Usually final actual cost of the house is 25% to 50% higher than the base price marketed by the builder.
In this video I have shared all the hidden costs of buying a new build home.
Broadly all the hidden costs in buying a property can be divided into 5 different categories
1. Sale consideration / consideration value
2. Other charges
3. Government Taxes
4. Stamp Duty & Registration
5. Hidden Charges
There are total of 20 hidden charges in buying a property, namely, PLC, Club membership, car parking, power backup, fire fighting, Infrastructure charges, External development charges, Internal development charges, IFMS, advance maintenance, utility connection charges, Admin & Infra, Legal Charges, GST, TDS, stamp duty, registration, possession charges, lawyer fees and home loan processing fees.
In this video, I have explained
1. What are the Hidden costs in buying a property
2. What are the Hidden costs of buying a new build home
3. What are the under construction property charges
4. What is cost of buying a house
5. What is PLC
6. What are the other charges while buying a flat
7. What is IFMS
8. GST impact on real estate transactions
9. TDS on purchase of property
10. stamp duty and registration charges
11. important hidden charges while buying flat
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2. How to evaluate a new residential project : kzread.info/dash/bejne/fISDrZl_dKuyibw.html
3. How evaluate a location : kzread.info/dash/bejne/qn97staop7ipj7Q.html
4. How to evaluate a sample flat : kzread.info/dash/bejne/lGedzsSugqqZmKg.html
5. Resale vs new flat : kzread.info/dash/bejne/Z2qsuc1voJepk7g.html
6. Build floor vs society flat : kzread.info/dash/bejne/hGScpNOudc25oNY.html
7. Investing in Under Construction Flat : kzread.info/dash/bejne/d2eoq89xXZmpj8o.html
About This Channel
Objective of this channel is to help young Indian know the unknown about buying a property in India
My mission is to educate young Indians about property buying process, starting from
1. How to find & buy your first house
2. How to invest in Indian real estate and make passive income
3. How to create wealth from real estate
4. Learnings for property buyers from real estate case studies
Who Am I?
A Realtor, Entrepreneur, Investor & Educator
I have worked with top developers of the country, have been an entrepreneur into Proptech space & a real estate investor for last 14 years
I want to share what I have learned to help you make a better informed decision based on awareness
You can reach me
Email: info@flatsandkeys.com
Whats app no: 9625111400
#realestateindia #howtobuyahouse #realestate #costofbuyingahouse
Пікірлер: 38
1. Sales Consideration or Consideration Value. a. Basic Price b. PLC ( Floor or view PLC) 2. Other Ch. Part 1. Some developer incl this in Sales Consideration a) Club Members, Car Parking, Power Back up, Infra Ch (IDC or EDC) (Pani, Bijli ka connection, service road, sewage pipeline) Other Ch Part 2. b) Interest Free Maint Security (Like Emergency Fund for building maint) c), 12 month of Adv Maint ch d) Utility connection (aapke Ghar me Bijli Pani gas ka connection) e) Admin and Infra cha f) Legal Ch ( aapke sale deed docu , builder buyer agreement do u bnane k charges and other documents bnane k liye). Builder might not mention these in cost sheet or developer might mention in star mark mentioning this will be levied at the time of possession. Clarify from builder whether he has incl these in Cost Sheet 3. Govt Tax ( a) GST b) TDS on total value of Property. U deposit 1% of the amount to Income Tax and give receipt to builder so that he can claim rebate on his income tax. Clarify this from builder whether u have to deduct this money from total value of property and deposit it in income tax) or Builder ya seller dega ye. Will u have to pay this 1% over and above total value 4. Hidden Ch a) Possession Ch (1-2%) check kro ki Cost sheet me incl Kiya hai ki nahi seller ya builde ne b) Lawyer fee - Sale Deed Registry, buyer Seller agreement k liye . 10000-15000 hoga. c)Home loan Processing Fee
this content is so helpful. Considering that real estate is the most expensive purchase of our life, people should read and learn alot about it before making the decision. Your content helps a lot in this.
Great video! Thanks buddy! Was looking for this basic clarity!
Thanks a lot, this was really helpful !!
Thank you for your guidance, this information is very much needed.
Thanks for sharing the information that too in very simple language.
Sir . this was helpful . i had lot of Questions and your video has answered most of them..Thank you for keeping it simple .
Your content is really good
Excellent knowledge sir Plz share your valuable information and expertise on what r the papers to check before buying new and resale flat
Useful info
Thank you So much for the Info :) really helpful!
@flatsandkeys
10 ай бұрын
Glad it was helpful!
Very informative video. One suggestion tho. Ap ek example leke explain kr sakte the. Like 1cr pe ye saari calculation krke
📌 One suggestion: Please check Volume level at the end of the video that plays...! That music volume is too loud. Rest content is too good. :)
Please share your views on mivan construction also and will it revolutionize the real estate industry.
I m lucky to find your videos.. it is very helpful..
@flatsandkeys
Жыл бұрын
Thank you 🙏🏻
sir, can you please explain about stamp and registration charges. what is effective rate in Gurgaon and it is applicable on GST paid during under construction property. I am confused on total consideration value
Can you give some information about Labour Cess?
How to check if builder is asking right price for electricity charges like transformer or not
EDC charges build up area pe lagata hai ya Super build up area pe?
Please make a video on Buying a new home vs staying on Rent in Delhi NCR If video is already there Please share its link
Hello sir, Im from mumbai I’ve question related to buying new flat which is under construction Question - The builder is asking me to pay the 10% of agreement value before giving me the agreement papers so is it legal to ask money from customer before taking signature and giving agreement papers to them? And also if not then how can i negotiate with them or ask them to give me the papers I’d be really helpful if anyone can answer my question
In case of under construction property, advance maintenance and society formation and legal charges etc at the time of booking was mentioned as ₹336000/- in the cost sheet. Now at the time of possession, it was told to pay ₹370000/- as per current cost sheet. Is it valid? Pls rply
Loan through our executives only. Loan from outside banker is not allowed. If loan executed from outside bankers, administrative charges of rs 30000/- shall be applicable. *Can the builder make such a condition ?*
Out of the box question background me ball kiski sign ki hai? Just curiosity
@flatsandkeys
Жыл бұрын
That is Kapil Dev's autographed ball.
I paid the 10% of advance payment and in the Intimation letter, they have mentioned an Application Fee of 5Lakh. Is this different than the registration fees ?
Video starts at 2:10
Tds toh 50L ya uske upar he lagta hai na sir ? Ya 50 se kam ki property pe bhy lagta hai ?
@preetiyewle5846
8 ай бұрын
50 L and above ki property pe tds deduct hoga
Sir sales consideration pr jo 5% btaya hai apne is it current prevailing rate?? Mere builder ne 12% lgaya hai !!
@flatsandkeys
11 ай бұрын
Earlier GST was 12 % with input tax credit (ITC). later govt changed it to 5% with out ITC. Most developers charge 5% but there are still few developers especially projects which were launched before 2020 charge 12%.
@muskaaaaanS
10 ай бұрын
Yes but is he right in charging 12% bcs flat to 2020 se phle wala hi hai but he is giving that flat to us 2023 at prices of 2020 because of some negotiations. So is he right if charges 12%
sir sir plz help maine 4500000 me flat kharida hai society me 2000000 ka loan hai koi tds to pay nhi karna padega na
@CarsTribe_Official
2 ай бұрын
Nahi. Agar TDS deduct hua bhi (>50 lacs)to ITR filing k waqt adjust ho jayegaa
Sir kya affordable housing flat Lena chahiye?
@Wondervariants
Жыл бұрын
The only difference between price of affordable housing vs normal one is of gst that is 5% to 1% rest per sqft price is same or according to less super area coz super area in affordable will be less coz of no parking space in basement and small park so you are getting what you are paying for.. If your budget is less you may go for affordable