What Are Hidden Costs When Buying Nambiar Property

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When purchasing a Nambiar property, expect to pay 12-15% above the base price due to hidden or additional costs. Major expenses include a 5% Stamp Duty, 1% Registration fee, and 5% GST. Buyers must also pay for utility connections (BESCOM/BWSSB).

There is a one-time clubhouse fee, Corpus funds, and Preferred Location Charges (PLC). Furthermore, maintenance deposits apply; for example, Nambiar Beverly Green charges ₹48 per sq ft for the first year.

Nambiar Beverly Green is a 76-acre villa township located on Bannerghatta Road in Bangalore. Phase 1 has 298 villas spread over 36 acres. The price starts from ₹5.48 Cr. The price mentioned already includes infrastructure charges, PLC and GST for most of the villas. However, some charges are not included in this price. Will be applicable during registration or when the property is handed over. Always ask for a specific cost sheet for the unit before making a booking.

Government Taxes and Statutory Fees


  • Stamp duty and Registration charges: These are charged separately according to the rates set by the Karnataka government. These charges need to be paid when the registration is done.
  • Goods and Services Tax (GST): This is already part of the quoted price of ₹13,499 per foot. The GST rate is 5 percent. So there is no GST to pay.
  • Legal and Documentation Charges: These are costs related to checking the ownership details, preparing the agreement, and handling the registration documents.

Developer and Preferential Location Charges


  • Preferential Location Charge (PLC): ₹0 for west-facing plots; however, east-facing plots are subject to a PLC of the same amount as the infrastructure charge.
  • Premium for Corner Plots: ₹46.27 Lakhs for an east-facing corner plot on 40×63 ft land in addition to the base cost.
  • Infrastructure and Development Charges: ₹18.66 Lakhs to ₹23.19 Lakhs already factored in the quoted price per villa.
  • Clubhouse Membership Fee: Unannounced at the moment by the developer; buyers need to confirm this prior to the project’s official launch.

Maintenance and Possession-Time Costs


  • Advance Maintenance Charge: forty-eight rupees per foot including eighteen percent GST, collected at the time of possession.
  • Sinking Fund: a deposit amount that is charged in the same way as the maintenance fee for long-term upkeep.
  • Utility Connection Charges: Fees for installing electricity and water meters are usually charged separately when the property is handed over.
  • Khata and Property Tax Registration: Local municipal charges for property record transfer, payable after possession.

Other Charges to Watch


  • Parking Charges: Not applicable here, since two covered parking spots come standard with every villa.
  • Interiors and Customization: Premium villas often involve added spending on modular kitchens, woodwork, and lighting.
  • Floor Rise Charges: Not applicable to villas, since this fee usually applies only to multi-storey apartment units.
  • Loan Processing Fees: Banks usually take 0.5% to 1% of the loan amount as a fee for processing home loans.
  • Brokerage or Channel Partner Fees: These fees might be there if the unit is purchased through a third-party agent or directly.

Pre-Launch Booking Cost


Booking, in this case, entails a non-refundable amount of five lakhs EOI. The EOI is not an amount that fixes the price of the unit. The costing sheets will only be provided after registration by the K-RERA. The price should be treated as an approximation by the buyer, not a fixed figure.

FAQs


1. What is the total cost of buying a villa at Nambiar Beverly Green?

The base prices start from ₹5.48 Cr. Go up to ₹6.82 Cr. These prices do not include registration, stamp duty and possession-time charges.

2. Is GST part of the Nambiar Beverly Green price?

Yes, the price of ₹13,499 per foot that is given already has 5% GST included for under-construction villas.

3. What is the maintenance deposit at Nambiar Beverly Green?

The maintenance deposit is ₹48 per foot plus GST. There is also a corpus fund deposit at the time of possession.

4. Do east-facing villas cost more compared to west-facing ones?

Yes, east-facing units have a charge. East-facing corner plots are the most expensive overall.

5. Are stamp duty and registration charges part of the villa price?

No, these are charged separately. They are based on the rates set by the Karnataka government when the property is registered.

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