What buyers should ask for in a cost sheet

When buying a property, a cost sheet unlocks the full price of what you will pay for your flat. Taking a look at the cost sheet will save you from unexpected costs, and every buyer must take a look at it to know the full price that has to be paid.

Now we can take a look at what buyers should ask for in a cost sheet when buying a flat,

• Base Price

The base price of the unit must be asked for, and it must be checked with the cost sheet. It must be calculated as follows,

Base Price = Rate per sq. ft. of the flat × Super Built-up Area

• Statutory Charges

These are compulsory charges that have to be paid to the government. It includes

• GST (Goods & Services Tax) –5% and only for under-construction flats.
• Stamp Duty charges and Registration charges – Varies by state (6% in Hyderabad).
• Customisation Costs

If you wish for any small changes, like adding extra plugs and shelves, the price will be added here.

• Other Charges

These are the other charges to be asked in the cost sheet.

• Clubhouse Fees – One-time fees to access all the common features inside the clubhouse.
• Parking Fees – Varies with open or closed parking charges.
• Maintenance Charges – It has to be paid in advance at the time of booking for 1 year to maintain the common areas of the property.
• Corpus Fund – A security fund to do any repairs.
• Preferential Location Charges (PLC) – It will be applied only for Park-facing, garden-facing or corner units.
• Floor Rise Charges – Flats on the higher floors will have an extra floor rise charge.

Why buyers should take a look at the cost sheet

These charges have to be noted by buyers when buying a flat as it will help to

• Transparency – Creates trust between the builder and buyers from the beginning.
• Helps to budget – Know how much total money you will need to buy the flat.
• No Hidden Charges – Everything is open, and buyers need not pay any hidden charges in between.

Prestige Golden Grove in Hyderabad is an ultra-luxury residential project that has a transparent cost sheet. All the prices are added in the cost sheet, and there will not be separate hidden charges later. Buyers can take a look at the cost sheet of all the flats in the project and can decide on the one that fits their budget.

Conclusion

A cost sheet is more than a document, and it is your protection against hidden and surprise costs. Whether you are buying a luxury flat or a budget-friendly flat, ask for a detailed cost sheet and confirm every detail to avoid any hidden costs later.