The true cost of buying a home in Punjab: beyond the headline price

Two flats with the same advertised price can cost very different amounts once every charge is added. Ask for an all-inclusive cost sheet before comparing projects.

Charges to ask about

• Basic sale price, and whether it's quoted on carpet area (as defined under RERA) or super area.
• Preferential location charges (PLC) for floor, view, corner or park-facing units.
• Car parking, club membership and power back-up charges.
• External and internal development charges, where these are billed separately.
• Interest-free maintenance security and advance maintenance at possession.
• GST on under-construction property (not applicable to ready property sold after a completion certificate). Ask the developer to show GST separately on the cost sheet.
• Stamp duty and registration fee at the rates notified by the Punjab government when you register. Confirm current rates before you budget.
• Home loan processing fees, legal fees and any brokerage you agree to pay.

How to compare fairly

Convert every option to an all-inclusive cost per square foot of carpet area, and compare payment schedules: a construction-linked plan spreads risk differently from a large upfront payment.

Rates and taxes change. Confirm current GST, stamp duty and registration charges with your lawyer or CA before booking.