M
Mahesh Garg
posted on 12 MayMy big discovery about Gurgaon builder agreements
Since January I've been shortlisting flats. Fed up of renting, seriously doing the EMI vs rent math now. My biggest discovery: always scrutinize builder agreements for hidden charges like PLC, EDC, IDC, maintenance deposits. They really add up! Saw this with M3M and DLF projects on Golf Course Ext. Anyone else find these charges make a huge difference to the 'actual' cost? It's not just the base price.
#gurgaon#builder-agreement#hidden-costs#first-time-buyer#emi-vs-rent
Comments
So what's a realistic percentage to add to the base price for these hidden charges? I'm looking at a project in Basai and they're quoting 8000/sqft. Should I mentally add 10%, 15%, or more? What's typical in Gurgaon now?
It also depends on the project's stage. Ready-to-move might have slightly less 'hidden' stuff, but current market conditions in Gur
Haan, 15% is a safe bet. Better to overestimate than underestimate.
From my experience, for established builders in Gurgaon, you should mentally add at least 12-15% on top of the base price for these charges, stamp duty, registry etc. For some, it can even go up to 20% if there are premium location charges (PLC) involved.
Not just Golf Course Ext, even on Airport Road side, same story. I almost booked a 3BHK last year and thankfully my uncle, who's in real estate, went through the agreement with a fine-tooth comb. He found charges for 'club membership' that was mandatory and a 'IFMS' (Interest Free Maintenance Security) that was non-refundable after a point. Saved me lakhs. Always get legal advice!
Bhai, ye toh sabko pata hai. Builders always play these games. Naya kya hai isme?
Sahi baat hai, maybe not new for experienced buyers, but I made the mistake of trusting the sales executive's initial quote. They just tell you the carpet area rate, not the super area, and then add all these on top. My advice: always ask for the 'all-inclusive' cost break-up on paper, even before booking amount. Don't just rely on verbal promises.
Exactly! Pehle se bata den toh better hai.
Naya kuch nahi hai, but for first-time buyers like us, it's a huge shock! We save every penny and then suddenly a 50 lakh flat becomes 60. It's not about 'naya', it's about being prepared and not getting fleeced.
Absolutely! I was looking at a project near Badshahpur and the sales guy quoted me one price, but then the 'all-inclusive' sheet had almost 15-20% extra. It's like they deliberately hide these to lure you in. My budget went completely haywire.
Since January I've been shortlisting flats. Fed up of renting, seriously doing the EMI vs rent math now. My biggest discovery: always scrutinize builder agreements for hidden charges like PLC, EDC, IDC, maintenance deposits. They really add up! Saw this with M3M and DLF projects on Golf Course Ext. Anyone else find these charges make a huge difference to the 'actual' cost? It's not just the base price.
Totally relate! My friend booked with a well-known builder, thought it was a great deal, but then stamp duty, registry, and these charges pushed his total cost up by almost 18%. He felt cheated. It's so difficult to compare apples to apples.