Buying an apartment in India is a significant milestone, representing financial security and the dream of homeownership. While many buyers focus on the listed price, there are several hidden costs that can considerably raise the overall expense.
These include stamp duty, registration fees, GST for under-construction properties, monthly maintenance charges, and parking fees. Often overlooked, these expenses can add 10–20% or more to the property’s base price, impacting your budget and financial planning. Understanding these costs beforehand is crucial to avoid surprises and ensure a smooth purchase process.
3. Maintenance and Society Charges
Maintenance charges cover common area upkeep, security, water, electricity, and housekeeping. Charges range from ₹1,500 to ₹5,000 per month for smaller apartments and higher for luxury units.
“Maintenance charges can vary from ₹1,500 to ₹5,000 per month for smaller apartments and escalate for luxury properties.” — Puravankara Real Estate Blog
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4. Parking Charges
Parking may not be included with the flat and can cost ₹2–10 lakh depending on the location.
“Parking doesn’t always come free with your flat. Builders often charge a separate fee for basement parking, covered/open parking slots, or extra parking spaces.” — Address Advisors
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5. Legal and RERA Compliance Costs
Hiring a lawyer is essential to verify titles, agreements, and RERA compliance. Fees can range from ₹15,000 to ₹50,000.
“Buyers often require legal assistance to verify property documents and agreements. Lawyer fees and documentation charges can add another ₹10,000 to ₹50,000 or more to the total cost.” — Marutham Group
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Also Read: Ready-to-Move vs Under-Construction Homes: What's Better?
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