5 Additional Costs You Must Consider Before Buying A Home

If you wish to buy a home that goes easy on the pocket, be prepared for the additional costs buying home Pune buyers often overlook. Beyond the property price, there are charges before and after ownership that can significantly impact your total budget.

Prefer a quick swipe? See it as a web story: First-Time Home Buyer Checklist: 10 Steps or The Real Cost of Buying a ₹1 Crore Home.

Mentioned below are the extra charges that you will have to pay after buying a home:

– Preferential Location Charges (PLC) :

Based on your preferred floor or direction like east-facing or corner flat, these charges are builder based. A lot of developers also charge more for units that are amenity-facing. 

Additional Costs Buying Home Pune Buyers Face

– Maintenance Charges :

According to a new trend, developers now charge maintenance charges. These charges may range from a period of 2 years to 10 years and even for a lifetime in a few places. 

– Stamp duty, taxes & registration fees :

The registration fees and stamp duty varies from state to state. Under construction, properties charge for VAT and service tax.

– Brokerage :

Brokerage is the fee charged by the broker, the middleman between the buyer and the seller. On an average, a broker charges 1% to 2% of the property cost. 

How to Budget for Hidden Charges

– Cost of Interiors :

Often, after taking possession of the property, you may want to make a few changes to the interiors and end up spending quite a lot of money. The amount you spend on the interiors will depend on the type and nature of interior work.  On an average, approximately 2% of the cost of property, if not more, is spent on the interiors. 

When you are investing so much money in a home, you must make sure that you get a good quality home and there will be 100% transparency in the transactions. If you are looking for residences for sale in Waked, Pune, check out Western Avenue, 3 BHK flats apartments in Wakad, Pune. 

Western Avenue is registered with RERA under Registration No. P52100000917 available at website: http://maharera.mahaonline.gov.in

Explore more Kolte-Patil projects in Pune. Verify RERA registration on MahaRERA.

Frequently Asked Questions

What are the additional costs of buying a home in Pune?

Beyond the base property price, Pune homebuyers face preferential location charges, stamp duty, registration fees, GST on under-construction properties, maintenance deposits, brokerage (1-2% of cost), and interior customisation expenses (roughly 2% of property value). Budget 10-15% above sticker price for all these hidden charges comfortably.

What is Preferential Location Charge (PLC) in real estate?

Preferential Location Charge is an extra fee developers levy for units with desirable positioning, like corner flats, specific floors, east-facing units, or amenity-facing apartments. PLC rates vary by developer and project but typically add 2-5% to the base price. These charges apply only to chosen premium locations.

How much is stamp duty and registration fee in Pune?

Stamp duty and registration fees in Maharashtra typically total around 6-7% of the property value, varying based on state regulations and property type. Under-construction properties also attract GST charges at applicable rates. Always confirm current stamp duty rates with the sub-registrar office before finalising any property transaction.

How long do maintenance charges apply after buying a home?

Maintenance charges typically apply from 2 years up to 10 years depending on the developer and project, with some locations charging lifetime maintenance. These upfront deposits cover common area upkeep, security, landscaping, and amenity management. Always clarify the exact duration and monthly rate before signing the agreement.

What is the standard brokerage fee for buying property?

Broker brokerage for residential property purchases in India typically ranges from 1% to 2% of the total property cost. The fee compensates the broker who acts as middleman between buyer and seller. Some developers offer direct sales with zero brokerage, making it worthwhile to explore both options.

How much should I budget for home interiors after possession?

Budget approximately 2% of your property cost for basic interior work, though luxury customisation can push this significantly higher. Costs depend on whether you need full modular kitchen, wardrobes, false ceiling, painting, or just furnishings. Always plan interior expenses separately from the property purchase budget.