When buying a 3BHK flat in New Chandigarh, the sticker price is just the beginning. To plan your investment accurately, you must account for several additional costs that can significantly impact your budget.
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, often amounting to 5-7% of the property value.
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.
