Hi Friends,

I am a NRI based in UK and I bought a flat in Maghaun Maple sec 50 which is due to completed by Sept'11.

In my many futile attempts to contact the builder and Noida authority to tell me abt the costs and formalities involved once the flat is ready so that I can plan things accordingly, I am unable to get a clear and precise answer.


If you guys can throw some light on the issue and advise me as to how much expenditure I can expect once the flat is ready , I would be obliged.

The areas I have so far identified are

- stamp duty payment but at what rate they are unsure..any registration chgs involved on top of stamp duty

- the builder adv that the stamp duty needs to be paid on Indian Rupees 70 lacs

- once the flat is ready what is the time frame the stamp duty needs to be paid ..i think it is with in 6 myhs to avoid any penalties

- may be chgs for electrical meter installation

- any documentation chgs involved

- flat is 2400 sq ft

- maintainence chgs

- may be hypothetically the costs of getting interiors done such as wardrobe in 4 bed rooms , kitchen on a basic or medium level so that I can rent it out so as to cover my partial costs of EMI



Thanks

anurag
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  • How much of the construction is done so far and what does your BBA says about these extra administrative charges? Registry, administrative charges of builder that includes lawyer's fees, mayawati fund, electricity connection, power back-up, security etc are going to be standard charges I believe.
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  • Originally Posted by djvjain
    How much of the construction is done so far and what does your BBA says about these extra administrative charges? Registry, administrative charges of builder that includes lawyer's fees, mayawati fund, electricity connection, power back-up, security etc are going to be standard charges I believe.



    Hello friend ,

    not gone thru yet..will go thru them

    in regards with construction I am told it will be done by aug '11 end. i am sure there is late peanlty cause too
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  • Getting possession from builder's side and actually having all the things properly taken care are two different things. Builders usually started pushing the customers to take the possession as the internal plaster and some electrical work is done, but don't do it till they have the NOC. Also, either the place or tell your family members to keep an eye on your unit as differents in the quality of finish with two units in the same complex is pretty common.

    Originally Posted by anurag1975
    Hello friend ,

    not gone thru yet..will go thru them

    in regards with construction I am told it will be done by aug '11 end. i am sure there is late peanlty cause too
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  • Originally Posted by djvjain
    Getting possession from builder's side and actually having all the things properly taken care are two different things. Builders usually started pushing the customers to take the possession as the internal plaster and some electrical work is done, but don't do it till they have the NOC. Also, either the place or tell your family members to keep an eye on your unit as differents in the quality of finish with two units in the same complex is pretty common.


    Many thanks for the advise...

    any ideas abt the rate of stamp duty

    tks

    anurag
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  • Male should be 7%, female -5% and both is 6% in my opinion.
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  • Originally Posted by djvjain
    Male should be 7%, female -5% and both is 6% in my opinion.



    Many tks for the valuable info Mr Jain.

    Much appreciated
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  • also add havan/pooja cost after possesion :bab (59):
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  • Originally Posted by fritolay_ps
    also add havan/pooja cost after possesion :bab (59):

    Well I am sure you meant this in good way...
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  • Yes.. after possession..this is the first thing you will do with "grah pravesh"
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  • In Noida registry charges are 5%. There is only dicount of only Rs 10,000 in case of female and 5000 in case of joint registration.
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  • Originally Posted by amarakbar
    In Noida registry charges are 5%. There is only dicount of only Rs 10,000 in case of female and 5000 in case of joint registration.


    can you please specify 5% of what, is it of BSP, total cost or circle rate..
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  • 5% of Total cost.
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  • Originally Posted by skoda0505
    5% of Total cost.



    Hi friend,

    are ther any reg charges on top of 5% which is like 2.5 % hence totalling to 7.5% of basic chgs

    once again many tks
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  • It is 5% of basic cost plus parking charges or calculated as per circle rate/floor discount, whichever is higher. In Noida circle rates are increased by 25% if GHS has swimming pool/club house.
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  • Originally Posted by amarakbar
    It is 5% of basic cost plus parking charges or calculated as per circle rate/floor discount, whichever is higher. In Noida circle rates are increased by 25% if GHS has swimming pool/club house.


    Helo Friends,

    finally I had a taste of Indian customer service when I finally got to speak to someone in the builder's office to clarify regarding the charges when the flat is ready for posession
    they advised me the followiing
    - stamp duty payable at 5% or & 7% which ever is applicable at the purchase point on basic cost of my flat which is rs 70 lacs

    - since I purchased car park as well, the pmt of which was broken down in 4 insatlments so the final pmt of it plus compulsory club liffetime mebership fees, lease rent and power back up for 2,48,000

    - service tax 10.3% on club and pwer back up amounting to rs 16,000

    - sinking fund????? i do not know what that is for 24,000

    - external electrification chgs + fire fighting equipment att 75 per sq feet for rs 1,80,000

    - Intrest free maintainence security for rs 20,000

    - Maintainnece chgs paid in advance for 2 years at .75 sq ft as the company will manage it for first 2 years amounting to rs1,08,000

    - registration chgs for 12,000 of which rs 10,000 goes to noida dev auth and rs 2,000 is the company's chgs

    and then she told me wittingly at the ned of the call thta why do I worry so much as properety rates are around 5000 per sq ft for my flat and when i bought in 2009 it was 4000 ..

    I advised her I am not planning to sell it and these chgs cannot be justified (as they came as surprise ) just because property prices are high / low

    of the above chgs some i agree but some of them are completly atrocious

    well things are so simple and transparent in UK when u purchase a property

    I am regretting my decision but ther is ther is no point sulking now

    thanks once again to all my friends who took time to reply

    Anurag
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