Planning to buy a property in Bangalore? Checkout the property rates instruction for investors for properties in Bangalore.
1. Financial Knots
Luxury always comes with a price tag. It is more than likely that you would not be able to arrange the entire amount at one go. Thus, do some research about your home loan eligibility and find out how much you're eligible to borrow.
2. Amenities & Car Parking
Every luxury housing projects like Provident Park Square offer amenities like swimming pools, clubhouses, jogging tracks, and playgrounds. They attach extra value to a property. Hence, the government keeps these things under valuation.
3. Stamp Buty & Registration Charge
Stamp duty is the tax levied on land purchase documents for legal confirmation of transfer of property. The rates vary from one state to another and the latest rates are available at local land revenue department.
You can use the stamp duty calculator but in order to efficiently use it, you must have the basic knowledge and be aware of the charges. So, below are a few things you need for calculation of stamp duty and registration charge.
- Super built-up area is considered for calculation in case of multi-storied apartments.
- For plots, the sq. ft. area is multiplied with the prevailing guideline value of the area.
- In case of independent houses, the total area is considered.
Talking about registration charges, even after paying the stamp duty, you can’t claim the property unless it is registered in your name. In Bangalore, 1% of the property value is charged as the registration fee.
Additional Read - Here’s How you Can Buy a Home Within Budget in Bangalore
