| | DECEMBER 20258Buying 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 10­20 percent 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. Engaging reliable service providers, such as legal consultants, property registration services, and financial advisors, can help navigate taxes, compliance, and documentation requirements. By being informed about these hidden charges and seeking professional assistance, buyers can make more confident decisions, streamline the home-buying process, and protect their investment while achieving long-term financial stability.Stamp Duty and Registration ChargesWhen purchasing an apartment, registering the property is legally mandatory. This involves:· Stamp Duty: State-governed tax, usually 4­10 percent of the property value, depending on the city and locality.· Registration Charges: Typically around 1 percent of the property value.Understanding Hidden Costs When Buying an Apartmentin India
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