Flat cost breakout
The below lists the expense categories and percentages related to a flat purchased by me recently. Obviously it will vary by city, location, builder and individual and is hence indicative. This is for Bangalore city.
Summary
1. Looking at the flat costs alone (items F1-F3), this constitutes 92% of total expense, i.e. other expenses (items O1-O5) are about 8%
2. After flat costs, it is the interior and electrical costs that are significant (items O2,O3)
3. Items O1-O5 are discretionary items (but you will need to incur some interior and electrical expenses)
3. The breakdown by flat cost items is as below
If you get a base flat sq.ft rate from the builder, one needs to plan for approximately an additional 21% to estimate the total expected flat cost (this will obviously vary by state and builder)
| F1 | Base (Area x Rate) | 75.9% |
| F2 | Parking & Deposits (Electricity, Water, Maintenance, etc.) | 6.7% |
| F3 | Legal, Stamp Duty, Registration, VAT | 9.4% |
| O1 | Loan Expenses (Stamp Duties on Mortgage) | 0.3% |
| O2 | Interior Works | 6.3% |
| O3 | Electrical (Geysers, Fans, Fittings and Electrician) | 0.9% |
| O4 | Moving (Packers and Movers) | 0.1% |
| O5 | Gruhapravesham | 0.3% |
Summary
1. Looking at the flat costs alone (items F1-F3), this constitutes 92% of total expense, i.e. other expenses (items O1-O5) are about 8%
2. After flat costs, it is the interior and electrical costs that are significant (items O2,O3)
3. Items O1-O5 are discretionary items (but you will need to incur some interior and electrical expenses)
3. The breakdown by flat cost items is as below
| Base (Area x Rate) | 82.4% |
| Parking & Deposits (Electricity, Water, Maintenance, etc.) | 7.3% |
| Legal, Stamp Duty, Registration, VAT | 10.3% |
If you get a base flat sq.ft rate from the builder, one needs to plan for approximately an additional 21% to estimate the total expected flat cost (this will obviously vary by state and builder)
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