Below is the list of charges that are demanded by builders in Noida and Greater Noida under different head at the time of possession:
Final Possession installment – Generally 5 % of BSP in case of CLP + additional charges like IFMS, Lease Rent as per payment plan mentioned in BBA.
Labor welfare cess – 19 per sq. ft. (Ideally should be borne by builder but the burden is being transferred to buyers).
Advance maintenance charges (generally for 3 months, 6 months or 1 year) – Generally between 1.8 to 2.5 per sq.ft. per month.
Meter charges – Generally between 20 k to 30k.
Sewer charges – around 3 k (applicable to Noida).
Club charges – Either not applicable or around 500 per month for 6 months or 1 year i.e. between 3k to 6k.
Farmer compensation if applicable – 40 to 80 per sq ft (only in affected areas where farmers are to be paid increased compensation by authority).
Interest – Varies from individual to individual. Depending upon delay in installment payment by individual (generally 18% per annum or as mentioned in BBA).
Water connection charges – Few builders in Noida extension and Noida have asked for this component (anywhere between 10k and 15k) as well.
Gas pipeline connection charges – Between 6k to 10k.
Please note that each of the above mentioned charges have additional service tax applicable.
Stamp duty charges – Please refer http://go4reviews.in/2015/08/alert-stamp-duty-changes-for-group-housing-flats-in-noida-and-greater-noida/ for Noida and or Greater Noida for exact stamp duty applicable to you.
Lawyer and misc. charges for registration – 20k to 30k. Not applicable if you are getting registry done on your own.
If any other charges are demanded like sinking fund, png connection charges etc., it must be very specific to the project.
We hope the above would help you prepare for what would have been a surprise for you otherwise.
Last updated: June 22, 2016 at 16:39 pm