There comes a time in everyone’s life when he/she has to take a crucial realty investment decision. Some people opt considering flats in Panchkula while others simply go for buying plots. But whichever you choose, there are some hidden costs that usually get overlooked. Neglecting those hidden costs involved in purchasing of flats for sale in Panchkula could give you last time surprises. Why encounter with disappointments later just because you haven’t paid attention to additional costs involved in buying 3 BHK flats in Panchkula?
Typically, these hidden costs could raise your home budget to 25 percent or even more. So, they are not the things to neglect during the purchase of apartments in Panchkula. It’s essential that you go through those hidden prices which become headaches later. Here are the things you should take care of from the beginning:
1 GST Involved In Ready to Move In Flats or Resale Properties
GST has simplified the buying process of flats for sale in Panchkula. You get exempted from lots of indirect taxes such as VAT, service tax and various others. Ready to move in flats have been exempted from GST. That means you don’t have to pay a penny if you choose to buy 3 BHK flats in Panchkula on resale.
2 GST Rates and Their Impact on Under Construction Property
What if you are buying apartments in Panchkula which are under construction? What would be the GST rate on under construction properties? As per the regulations, you will have to pay 18 percent GST on the 2/3rd total value of the property. Since, there is no GST applicable on the transfer of land, which is equal to 1/3rd of the total value. That means you just have to pay 12 percent GST on the property earlier which is now reduced further to 8 percent as per new laws.
Wondering what you would be charged for buying affordable price flats near Panchkula? The answer is nothing. Yes, you heard it right, there are no GST rates applicable for homes tagged under affordable housing schemes.
4 Maintenance Deposits for Flats in Panchkula
If you have never lived before in 4 BHK flats in Panchkula, then you might not be aware of the hidden costs such as maintenance deposits. These deposits are usually asked in big and new societies just built by developers. These maintenance costs are charged for the maintenance of the real estates’ amenities such as swimming pool, clubhouse or parks. They might charge you the maintenance costs on the quarterly, half-yearly or even annual basis, no matter if you have 1 BHK flats in Panchkula or 3 BHK flats in Panchkula.
5 Parking Charges That Come As a Surprise
Parking charges are not usually included in the price tag for purchasing 4 BHK flats in Panchkula. But they account in your budget. So, it’s better that you should ask your builder about the parking charges that you might have to pay upfront periodically after buying 1 BHK flats in Panchkula. There are other questions that you should ask your builder. For instance, what if you don’t want to use the parking space? Is the parking space covered or open? What’s the amount of deposits?
Hidden prices involved in the purchase of most affordable price flats near Panchkula could show up anytime without invitations. You should rather do a deep research on the hidden prices that your flats for sale in Panchkula might show up in the near future. It will help you make an accurate budget that never stretches to a bothersome point during your chase for affordable flats. The next time when you search apartments in Panchkula, you bear these hidden costs in mind to help you decide a budget that’s close to true figures.
Do you have queries about the hidden costs your 4 BHK flats Panchkula might carry along with the selling price? Let Vaneet Infra help you clear your doubts by showcasing you the full break-up of the costs involved. We value our clients and are willing to extend our knowledge in realty sector to help you unleash the best deals of 1 BHK flats in Panchkula. Ask us for affordable price flats near Panchkula now.