1. What is the difference between Built-Up Area, Super Built-Up Area and Carpet Area?
Carpet Area: This is the area of the apartment/building that does not include the area of the walls.
Built-Up Area: This is the area of the apartment/building including the area of the walls.
Super Built-Up Area: This includes the Built-Up Area along with the area under common spaces such as the lobby, lifts, stairs etc. This term is therefore only applicable for multi-dwelling units.
2. What will be the stamp duty charges?
The stamp duty charges come up to 5% of Agreement Value or Market Value whichever is higher.
3. What will be the Registration Fees?
The registration fees applicable come up to Rs. 30,000/-
4. What will be the Service Tax: 4.50% on Agreement Value?
If you purchase the flat after the Occupation Certificate of the building is received then you don’t have to pay the service tax.
5. What will be Value Added Tax?
Value Added Tax charges come up to 1% of Agreement Value or Market Value whichever is higher.
6. What are Society charges?
These vary with each Project based on location and amenities. It includes membership fees, share application money, installation of electric meter, formation of proposed society, legal and agreement cost and finalization of assessment tax.