The advertised price of a 3BHK flat in New Chandigarh often excludes several mandatory expenses. Buyers must account for statutory charges like stamp duty, registration, and GST, which can add 5-7% to the total cost.
1. Statutory Taxes and Fees
GST (Goods and Services Tax) is applicable on under-construction properties. Additionally, stamp duty and registration charges are mandatory payments to the government to legalize your ownership.
2. Society and Maintenance Charges
Most modern complexes in New Chandigarh charge for Preferred Location Charges (PLC) if your flat faces a park or is on a specific floor. You should also factor in Advance Maintenance Charges, Club Membership fees, and dedicated Parking charges.
3. Move-in and Financing Costs
Don’t forget the “soft costs”: interior setup (woodwork, lighting), brokerage fees if applicable, and loan processing fees from your bank. Understanding these hidden costs ensures you are financially prepared for your dream home.
