https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10165509
Is this a resale apartment or a new one from builder?
Help regarding purchase of apartment
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Hi, I got this quote from apartment. I didn't understand GST, reg charges 7.5% how it is calculated. can you help me
Also another owner for apartment told stamp value per sqft is 3072 (super builtup is 1000 sqft: carpet 685 sqft, builtup 801 sqft, common walls 199 sqft). But he is saying 38,50,000 as plot value .
when stamp value is 3072, is asking 3850 (768 more sq ft) goes to black!! this is 25% more.
can you help me understand picture breakup of gst, reg charges , modt for another plot of 910 sqft. They said parking 80 sqft is not registered for stamo, but looks like it is added. its overall confusing.
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https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10165525
Its a new one from builder. There is another resale one (brought ome year back by owner for 3072 per 1000 sqft and asking 3850 in same apartment . He said 3072 would be stamped and remaining is B). Not sure if that's how it should be for apartments in terms of B
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https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10165539
The stamp value is based on guideline value
and it can be higher or lower than market value
If the market value is what is mentioned in document
there is no black money involved
GST is 1 % for affordable housing else 5 %
Parking is considered as an amenity and may
not be included in construction cost
Registration charges varies from state to state
Registration charges can be say 5 % of land cost +4 % of construction cost
or it can be say 7 % of total cost(called composite deed)
https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10165810
Scenario 1 (Excluding Parking):
1. Plot Cost (excluding parking):The plot cost is ₹35,94,500 (910 sqft*3950).
2. Parking Cost:The parking (amenity) cost is mentioned as ₹2,00,000. If I do 80 sqft*3950, it comes to 316000 (this is more than value of 200000 they mentioned)
3. Total Cost: Adding the plot cost and parking cost: ₹35,94,500 + ₹2,00,000 = ₹37,94,500.
4. Sale Deed Fee (7.5%): The sale deed fee at 7.5% would be: ₹37,94,500 × 7.5% = ₹2,69,587.50.
- The mentioned sale deed fee is ₹2,10,500, which differs from the calculated value 269587.50.
5. Alternative Calculation:**
- If we consider a square foot cost of ₹3,100 instead of ₹3,950:
- New plot cost = 910 sqft × ₹3,100 = ₹28,21,000.
- Sale deed fee at 7.5% = ₹28,21,000 × 7.5% ≈ ₹2,11,575 (close to the mentioned value 210500).
- Black money (difference between calculated and mentioned fees):
- Black money per sqft = ₹3,950 - ₹3,100 = ₹850.
- Total black money for 910 sqft = ₹850 × 910 = ₹7,73,500.
- Additionally, the parking cost of ₹2,00,000 could be considered as liquid money.
Scenario 2 (Including Parking):
1. Plot Cost (including parking): The total cost, considering parking, is ₹37,94,500.(990 sqft*3950)
2. Sale Deed Fee (7.5%): The sale deed fee at 7.5% would be: ₹37,94,500 × 7.5% = ₹2,84,587.50.
- Again, the mentioned sale deed fee is ₹2,10,500.
3. Alternative Calculation:
- If we consider a square foot cost of ₹2,850 instead of ₹3,950:
- New plot cost = 910 sqft × ₹2,850 = ₹28,21,500.
- Sale deed fee at 7.5% = ₹28,21,500 × 7.5% ≈ ₹2,11,612.
- Black money (difference between calculated and mentioned fees):
- Black money per sqft = ₹3,950 - ₹2,850 = ₹1,100.
- Total black money for 990 sqft (including parking) = ₹1,100 × 990 = ₹10,89,000.
Finaly does this mean on stamp paper sqft cost is 3100/2850. additional amount from 3950 (973500/1089000) is black or unaccounted ??
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https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10166518
Location and project?
https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10171570
Visakhapatnam,AP and these are apartments
https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10166630
I think in Hyderabad its slightly different. i have bought one from flat owner which already 5-6 years old. no issues.
https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10171571
Sorry, I didn't understand what's difference
https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10169241
@seeker9898 , can you confirm if agreement will be done for full value 38L after which you go for loan?
Even if the registration value is 30L and if he goes for home loan, the loan will be sanctioned on agreement amount which will be full market value say 40L and not registered value 30L,
This is my understanding, now can the 10L be considered route B as agreement clearly say 40L right?
@Faug . @manishs @Rocking_since_1992 @kukdookoo @bikidas2060
https://www.desidime.com/discussions/help-regarding-purchase-of-apartment?page=1#post_10171567
yes, registration will be done for 30L and 8L is black.
For a 1000 sqft flat (80 sqft parking extra). per sqft 3800 market value
Total: 40,028,000. Breakup below
sale deed: 30 L (3000*1000 sqft)
black: 8L (800*100
7.5% reg: 2.25L (white/cheque)
1% gst: 0.3L (white/cheque)
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The stamp value is based on guideline value
and it can be higher or lower than market value
If the market value is what is mentioned in document
there is no black money involved
GST is 1 % for affordable housing else 5 %
Parking is considered as an amenity and may
not be included in construction cost
Registration charges varies from state to state
Registration charges can be say 5 % of land cost +4 % of construction cost
or it can be say 7 % of total cost(called composite deed)