Understanding the Real Cost: Hidden Charges at Purva Northern Lights
When you see an ad for a new home, the price tag often looks great. But in real estate, the "Base Price" is just the start. The final amount you pay to own the home is called the "All-Inclusive Price," and it is usually higher.
At Purva Northern Lights, the cost sheet is detailed. It lists every rupee you spend. For buyers looking at apartments in the KIADB Aerospace Park, this list can look confusing at first. This guide breaks down the extra charges so you can plan your budget without surprises.
The Base Price: Just the Start
The Base Price is the cost of the apartment's size. It is calculated by multiplying the square footage by the price per sq. ft. For Purva Northern Lights, this starts around Rs. 1.3 Crore for a 2 BHK.
This pays for the walls and the roof. It does not cover the floor you pick, the view you want, or the taxes the government collects. Think of it like buying a car; the base price doesn't include the insurance or road tax.
Paying for a Better Spot (PLC)
Not all homes are the same. Some apartments in aerospace bangalore have better views or are in a better spot in the tower. This extra value is called the Preferential Location Charge (PLC).
- Good Views: A home facing the pool or garden costs more than one facing the road.
- Corner Homes: Units with more windows and ventilation often have a fee.
- Direction: Many buyers prefer East or North-facing homes for Vaastu. These units might cost a bit extra.
If you want to save money, you can pick a standard unit without these add-ons.
Floor Rise Charges
In tall buildings like these (which have over 30 floors), higher floors cost more. This is called the Floor Rise Charge.
- Why pay more? High floors have less noise, better breeze, and great views.
- How it works: The price goes up slightly with every few floors you climb. A flat on the 20th floor will cost more than the same flat on the 5th floor.
Utility Fees
These charges pay for the essential connections that make the house liveable.
- Power and Water: You pay fees to BESCOM and BWSSB to get electricity and water meters installed.
- Gas: If there is piped gas, there is a connection fee.
- Backup Power: You pay a fee for the generator that powers the lifts and lights during a blackout.
These are must-pay items. You cannot skip them.
Club and Amenities
This project has luxury amenities spread over 25 acres. You pay a one-time fee to use the clubhouse, gym, and pools.
- The Benefit: This ensures the facilities are ready and working the day you move in. It is a standard fee for luxury apartments near aerospace park.
Car Parking
In a busy city, your own parking spot is valuable. The cost sheet will list a price for a covered car park.
- Ownership: You are buying the right to use that spot forever.
- Extra Cars: If you need space for two cars, you will have to pay extra for a second spot or a "tandem" spot (one car behind the other).
Government Taxes
These are fees paid to the government, not the builder.
- GST: For homes that are under construction, you pay 5% GST on the total cost.
- Registration: When the home is ready and you get the keys, you pay Stamp Duty and Registration fees. In Bangalore, this is about 6.6% of the home value.
- TDS: If the property costs more than Rs. 50 Lakhs, you must deduct 1% TDS from the payment and submit it to the tax department.
The "Rainy Day" Fund
Before you move in, the builder collects money to run the society.
- Advance Maintenance: You pay for the first 1 or 2 years of upkeep upfront. This covers security and cleaning.
- Sinking Fund: This is a long-term savings fund for the building. It sits in a bank and is used years later for big repairs, like painting the exterior.
Legal Costs
There is a small fee for the legal work. This covers the cost of hiring lawyers to check the land papers and draft your sale agreement. It ensures your ownership is safe and legal.
The Final Math
To find the real price of your 2 BHK, 3 BHK, or 4 BHK, use this simple sum: Final Price = Base Price + PLC + Floor Rise + Car Park + Utilities + Taxes + Deposits.
Always ask for the "All-Inclusive Cost Sheet" when you visit. This way, you know the exact total before you book.
Frequently Asked Questions (FAQs)
Q: Is the car parking fee mandatory?
A: Yes. In most luxury projects, you must buy at least one parking spot with the apartment.
Q: Do I pay GST if the building is ready?
A: No. GST only applies to under-construction homes. If the project has its Occupancy Certificate (OC), you don't pay GST.
Q: What is the Sinking Fund for?
A: It is a backup fund for the society. It is used for major repairs in the future, like fixing the roof or repainting the towers.
Q: Can I refuse to pay the clubhouse fee?
A: No. The clubhouse fee is part of the standard package for all residents. It grants you access to all the common facilities.
Q: Can I negotiate the floor rise cost?
A: Usually, floor rise charges are fixed. However, you might be able to get a discount on the base price or PLC depending on the market.
