How are apartment prices calculated?

Buying your first home is a major achievement! A huge investment in your life, but you should know, the price of flats in Kerala include a list of hidden costs that you have to pay when you buy it. Do not make the mistake of underestimating these costs as they normally make upto 20% of the advertised cost.



Here are all the costs a builder/developer will charge you when you buy luxury flats in Kochi:

Basic Sale Price (BSP)

The actual price which is advertised by developers is the Basic Sales Price and it constitutes the main cost of your property.

Preferential Location Charge (PLC)

If you want your property at a location which is preferred by most people, you may have to pay a higher price. The PLC charges normally come to 4% of BSP. 

External Electrification Charges(EEC)

The price charged by the builder to lay down wires and cables from the electricity consumption meter to the apartment.

Fire Fighting Equipment Charges (FFEC)

Nowadays, all residential projects are supposed to install fire safety devices and fire-fighting equipment and extra charges are levied for that.

Infrastructure Development Charges (IDC)

The developer directly pays these charges to the state government for developing the infrastructure for the project. The charges vary from state to state.

External Development Charges (EDC)

The external areas surrounding the project need to be developed. The builder directly pays these charges to the state government. The charges vary from state to state.

Car Parking Space (CPC)

Developers sell car parking spaces inside the society. Generally, two types of parking are available - open parking and covered parking. You may need to purchase at least one parking space along with your apartment.

Club Membership

Most residential flats in Kerala will have a common club for social and recreational activities. Club membership costs a fee. 

Power backup Charges

Most luxury flats in Kochi have a good power back-up. You may need to pay the extra charges for this.

Electric Connection charges

An amount is charged by the developer to set up the infrastructure for bringing electricity to your apartment apart from EEC and power backup charges.

Water, drainage and sewerage charges

When buying flats in Kerala, you are required to pay for the water facility set up in the complex.

Stamp duty and registration charges

A percentage of the registered value of the property is to be paid as Stamp Duty and Registration charges to the Government.

GST Tax

Government charges you GST tax on under-construction property at the current prevailing rate on the total cost of the apartment. GST comes to 18% on sale of under construction property or ready to move-in flats where completion certificate has not been issued at the time of sale.


Note: All the charges are calculated on the basis of SUPER AREA and not BUILT UP AREA. 

Now that you know how apartment prices are calculated, contact us at luxurykeralaflats.com to know more.

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