S
Suresh Rawat
posted on 6 MayRichmond Town 3BHK: What am I missing in the total cost?
₹1.5 Cr for a 3BHK in Richmond Town from Prestige Group – on paper, it sounds okay for a 1400 sqft place. But jab builder se final quote liya, it shot up so much. They add stamp duty, registration, parking, and then PLC for a higher floor... it's like ₹15-20L extra minimum. Honestly, I'm trying to figure out the *real* all-in cost. Kuch hidden charges bhi hotey hain kya jo possession ke time pata chalte hain? Like society setup fees ya sudden utility connection charges? Meri calculation ke hisaab se, it's already crossing ₹1.7Cr. Investors, aap log kaise plan karte ho for these unexpected expenses? Is it normal for the final number to be so much higher than the quoted base price?
#all-in-cost#hidden-charges#bengaluru-property#prestige-group#first-time-investor
Comments
Regarding your question about hidden charges at possession time: Yes, things like society formation charges (for the first AGM, legal setup), initial corpus fund for the association, and sometimes even unexpected property tax adjustments can pop up. Utility connection charges for BESCOM/BWSSB are usually part of the initial 'other charges' but sometimes get revised. Always have a contingency fund of 5-10 lakhs specifically for these unforeseen expenses, especially for a high-value property like this. Don't stretch your budget to the absolute maximum based on the builder's 'final' quote.
Yes, it's absolutely normal for the final number to be significantly higher. I bought a flat near Aishwarya Crystal Layout a couple of years back. My base price was ₹90L for a 2BHK. Post all the charges – stamp duty, registration, legal, amenities, power backup, transformer, water connection – it went up to ₹1.08 Cr. That's almost 20% extra! The trick is to negotiate hard on some of these 'miscellaneous' charges if you can, or at least be prepared for them. Budget for at least 15-20% over the base price for these extras.
That's a good tip, thanks! I always thought the base price was pretty close to the final. This really changes my budget calculations. So, you're saying I should mentally add 20% to any advertised price I see?
15-20% extra seems to be the industry standard now. It's frustrating because it misleads first-time buyers. How did you negotiate those miscellaneous charges? Did you get any discounts?
₹1.5 Cr for 1400 sqft in Richmond Town is already on the higher side, even for Prestige. Are you sure about the exact location within Richmond Town? Sometimes they market a nearby area as Richmond Town. Also, check their RERA documents for all approved charges. Hidden charges like society setup fees *do* exist, but usually, they are disclosed in the agreement or an annexure. Did you ask for a fully loaded cost sheet?
Haan, fully loaded cost sheet is key! Many builders conveniently "forget" to include certain charges in the initial quote. For my apartment in Agrahara Layout, I literally made them list out every single possible charge, including future maintenance deposits and IFMS, before signing anything. It saved me from a lot of surprises later.
Good point about the location. Many builders do this. My colleague was looking at a 'Whitefield' project which was actually in Adigara Kallahalli. Makes a huge difference in price and future appreciation. Always verify the actual land parcel on Google Maps.
Totally normal, bro! Prestige is notorious for this. My friend bought a 2BHK in Aavalahalli from them, base price was decent, but by the time possession happened, he paid almost 18-20% more than the initial quote. They'll add club house membership, maintenance advance, transformer charges... list never ends. Prepare for at least 20-25 lakh over the base price.
Sahi keh rahe ho. My cousin faced the same issue with a project near Akshayanagar. The builder quoted a decent per sqft rate, but then added so many 'premium' charges like view preference, floor rise, amenities usage fees. It's a common tactic in Bengaluru's competitive market to make the initial price look attractive. You really need to get a detailed breakdown upfront, not just the base price.
Yes, absolutely! "Normal" is the keyword here. Builders always quote a low base price to hook you in. The extra charges are often more than what you expect, especially for premium locations like Richmond Town. Always factor in at least 15-20% over the base for all these add-ons.
₹1.5 Cr for a 3BHK in Richmond Town from Prestige Group – on paper, it sounds okay for a 1400 sqft place. But jab builder se final quote liya, it shot up so much. They add stamp duty, registration, parking, and then PLC for a higher floor... it's like ₹15-20L extra minimum. Honestly, I'm trying to figure out the *real* all-in cost. Kuch hidden charges bhi hotey hain kya jo possession ke time pata chalte hain? Like society setup fees ya sudden utility connection charges? Meri calculation ke hisaab se, it's already crossing ₹1.7Cr. Investors, aap log kaise plan karte ho for these unexpected expenses? Is it normal for the final number to be so much higher than the quoted base price?