Buying a home? Do not dare to ignore these 7 hidden costs

Beholding to buy a home in Noida? Godrej Nurture is an ideal option in front of you.

Godrej Nurture is housing space where nature nurtures you within the prominent and pleasing location of Sector 150. The Luxurious Apartments of Godrej Nurture are child-centric homes and tickles the residents with the unhindered views of enthralling foliage. The under-construction project, Godrej Nurture is a rare luxurious residency positioned in Noida. Thus, it can be rightly said your investment in Godrej Nurture Property is a safe bet.

Godrej Nurture
Godrej Nurture is an ideal choice for buying home

Now, that when you are all set to buy your dream home, you must have considered all those obvious costs but still we are sure that somehow you must have missed on those hidden pinches involved in this complicated process. Let’s take a look at the hidden cost involved when you buy your home.

Registration Fees and Stamp Duty: The compulsory fees that you pay to the government to get the house under your name is the stamp duty charges. It is paid at 5-7% and differs from state to state. If you fail to pay this charge the house won’t be registered in your name.Registration fees are the charge of ownership after the final agreement between the buyer and the seller. The court charges this at 1-2% though seems a small amount but sums up to a lot.

Value-added and Service tax: Like the above two these are also paid to the government and are compulsory charges. Any purchase of under- construction property within India is charged with VAT and service tax. The VAT is charged on the property’s construction value, while the service tax is charged at 12.36% of the 25% of the value of the property under construction. VAT and service tax together cost you 8% of the property value.

Brokerage Fees: It is exactly not hidden one but most often buyers forget it while buying a house. It is the charge given to the middlemen between the buyer and the seller. Brokerage fees are mostly charged at 1-2% of the total cost of your house. Some brokers are expensive and charge a little higher fee, better you find it out and settle it with your broker.

Maintenance deposits: Maintenance deposits comes under common amenities like lightning and parks. Builders charge these in advance of up to 2 years. It is charged by the society members as a deposit to meet any damages occurring in future. Depending on the number of amenities provided this charge gets pretty big. This amount differs from area to area and society to society.

Interiors of your house: The most important an unavoidable cost is the cost of the interiors of your house. Because if the interiors are not proper you cannot move in your house. All those paintings, electrical appliances, plumbing, new furniture and a lot, this list is endless. Even if the basics interiors are already done it cost you somewhere around 10 Lacs that too after cutting down and sacrificing.

Parking space charges: With the increasing population and dearth of space in the country, Parking space is not included when you buy a house. Parking space charges vary as per the area you live in and the size of space available for parking. It comes as a separate cost and is paid to the seller, failure of paying this charge you may lose your parking space because the seller has full rights to sell it to another member of the society.

Not the least, Preferred location charge: Isn’t is a great experience when you stay at the 20th floor of any project? But, do you know this experience brings in extra expenses with it. Property that enjoys good location, layout, and position preferably charges this cost. Therefore, it differs from property to property.

Godrej Nurture

Thus, it can be rightly said that there is no way to avoid these costs, hence, keep these in mind, estimate a proper extra cost and make an informed decision of buying your home in Godrej Nurture.

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