How to Calculate The Total Cost of Buying A Flat in Bangalore

April 30th, 2022


Planning to buy a flat in Bangalore? Calculating the total cost of buying a flat is essential for a smooth purchasing experience & a smooth move into the apartment.

Our lives are filled with milestones – some that we achieve effortlessly such as entering adulthood, and some others that we create for ourselves, such as owning a home or a car. To turn the dream of owning a home into reality, we often plan by carefully budgeting our expenses so that we can make a larger down payment. But it doesn’t end with just a down payment and an EMI. Homeowners end up shelling out more than just the cost of the apartment for other aspects. Here, we cover all the additional expenses that you may incur when buying your ideal home:

Aspects That Determine The Total Cost of Buying A Flat in Bangalore

You and your friend may have invested in a 2 BHK apartment in Bengaluru. But chances are that your friend may have paid far less than what you have due to various factors such as the builder’s reputation, quality of construction, or the amenities that it comes with. Let’s delve deeper into the total cost of a flat in Bangalore:

  1. Construction Quality & Materials Used

    The quality of construction materials used to build your home has a direct impact on its price. Good quality homes come at a premium price but of course, this means fewer repairs and reconstruction in the years ahead.

  2. Builders’ Reputation

    Well-reputed builders will ensure good quality materials are used for construction. Therefore, as discussed in the previous point, such apartments will naturally be priced higher.

  3. Resale Value:

    Usually, properties that are newer fetch a higher value. However, even those that have been well-maintained over the years, can also have higher value. Regular maintenance upgrades are also helpful in adding value to a property.

  4. Location Value

    Buildings in and around commercial and market areas have a higher value than those in isolated residential areas. Well-developed colonies, amidst reputed educational institutions, hospitals, and shopping plazas are evaluated at a higher price.

  5. Amenities

    Values of apartments with an array of modern amenities are estimated at a higher price. The property is valued based on the facilities associated with comfortable housing. Homebuyers look for apartments that offer basic facilities such as electricity connection, plumbing, and sewage treatment alongside recreational facilities such as parks, swimming pools, gyms, etc.

8 Additional Expenses You Should Consider While Calculating the Total Cost of Buying A Flat in Bangalore: –

  1. Stamp Duty and Registration Charges

    This is one of those obvious expenses. To register the property under your name, the state government levies stamp duty which is about 5-7% of the property value, depending upon its value. Then, an additional 1% of the property value must be paid to the court as registration fees.

    So, if your property is estimated at Rs. 1 crore, the stamp duty is charged at 5% for property values above Rs. 45 lakh. That will work out to Rs. 5 lakh. The registration charge is an additional 1% of Rs. 1 crore, which is Rs. 1 lakh. In total, you will be shelling out Rs. 6 lakh on stamp duty and registration charges.

    Must Read: Stamp Duty & Registration Charges in Bangalore

  2. Brokerage Fee

    If you are zeroing on your ideal home with the help of a broker, then, needless to say, you will be shelling out a bit more. Both buyer and seller will pay an agreed-upon commission to the broker for carrying out smooth transactions.

    Assuming you went through a broker who charges a 2% commission on the property value, you’d have to pay him Rs. 2 lakh on a property worth Rs. 1 crore.

  3. Parking Cost


    Parking-lot-CostApartments come with a host of amenities for all its residents, but if you own two cars, you will be allotted one parking slot only and you might have to pay extra for the other. This can range anywhere between Rs. 2-7 lakh per slot, depending upon the location of the slot as well as the apartment, in general.

    Let us assume that you are charged an additional Rs. 5 lakh + 12-18% GST towards the extra parking slot.

  4. Interior Designs

    interior-design-costYou must first set a budget for how much you want to spend on interiors when you calculate the total cost spent on your home. Interiors are an essential part of your home because it adds personality to your space. You can choose how your TV unit, wardrobes, bathroom fittings, and much more, need to look. Depending upon your needs, aesthetic preferences, and the quality of these products, the price can be higher or lower.

    If you want to use materials like marble, granite, and expensive wood, then it might cost you a hefty sum that could be around Rs. 15-20 lakh. However, if you decide to opt for good quality products in a reasonable price range, then you could complete your interiors at about Rs. 5-6 lakh.

  5. Goods and Service Tax

    goods-service-taxIf you purchase an under-construction property in India, then you will be levied the Goods and Services Tax (GST), which is 5%. However, if you choose a ready-to-move-in apartment that has a completion certificate, there will be no GST levied.

    Must Read: Save up to Rs7* Lakh on Tax Deductions on Housing Loans

  6. Preferential Locality Charge (PLC)

    As much as garden view, sea view, pool view, or lake view apartments sound enticing, these come with an additional cost known as the Preferential Locality Charge. When you choose an apartment with a specific view or amenity in mind, it might attract the PLC that can be anywhere between Rs. 100-500 per sq. ft.

  7. Maintenance Cost Deposit

    maintenance-costA maintenance Cost Deposit is collected by the builders to create a corpus fund. The interest on the funds would then be used for common area maintenance purposes. If the interest amount is exhausted, then residents will be charged a maintenance charge for the following month based on the apartment SBA.

    The maintenance deposit could be around Rs. 4-5 lakh and can even go up to Rs. 10 lakh, which is to be paid at the time of purchase.

  8. Miscellaneous Charges

    miscellaneous-chargesApart from the above charges, you could also incur more expenses. Some of these need not necessarily translate to the cost of your apartment, but it could be an additional expense while buying and moving into your ideal home. This could include the bank loan inspection charges that are part of the home loan amount which you will have to bear as part of the loan repayment, or it could be the expense incurred from hiring packers and movers, etc.

Must Read: How To Reduce Your Home Loan Interest Rate?

Additional Costs Amount Calculation Basis
Stamp Duty & Registration Charges 6 lakhs 5% (Stamp Duty) of 1Cr & 1 % of 1Cr (Registration Charge) = 5lakh +1 lakh
Brokerage Fee 2 lakhs Fixed Amount
Charges for Additional Parking 4 – 5 lakh Fixed amount
Interior Designs 5 – 6 lakh Depending on preferences
GST 5 Lakh 5% of 1Cr.
PLC 2-10 lakh Depends on the type of apartment
Miscellaneous Charges 20k to 2lakhs Depending on preferences
Maintenance Deposit 5 lakhs Fixed amount

These are the approximate cost suggests for a flat worth Rs. 1 crore in Bengaluru, you will end up paying anywhere between Rs. 25-35 lakh towards all these additional charges. The total cost of buying a flat in Bangalore will be Rs. 1 crore, 35 lakh + GST wherever applicable. 


Achieving this milestone of owning your home is a rewarding feeling. However, if you leap carefully, estimating all the expenses incurred, you could keep a watch on your savings as well. This would suggest that you are being smart about your real estate investments.

To make this dream a reality, be sure to check our luxury projects in Bangalore that are a class apart and come with an array of amenities.



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