Expenses charged by the Purchaser of Apartments

It is quite common that a person who wishes to buy apartments for sale in Tambaram would just think only about the value of the property, but would not anticipate about various other expenses incurred. It is always good to know about various other charges to be paid by the buyer so that the buyer would not face any difficulty in the due course of buying 1 BHK apartments in Chennai and handling various fees to be paid towards various processes involved in the buying activity. By forestalling all the charges incurred, the purchaser can very well reduce the stress involved in the process.


• The main expenditure incurred initially is paying an initial down payment to the seller to make the seller understand that the buyer is serious about buying apartment and would complete the deal.

• Every buyer of the flats needs to pay a tax towards the property which is getting transferred to the name of the buyer. The tax value that is fixed for a property depends on the size of the property, location of the property, and various other factors. It is to be paid to the Government as the title is getting transferred to the buyer.

• It is better that the buyer of the apartments pays the property tax immediately after the registration of the property is over for the current year, so that the buyer honors his commitment towards the Government.

• If the deal is made with a reputed builder, the buyer of the apartments available for sale would not face any difficulty in establishing the boundaries of the asset, as mostly the paper works would be clear under consideration. Otherwise, a surveyor is to be engaged to establish the boundary of the flats.

• When a buyer applies for home loan for buying abodes, then there would be some processing fee levied by the home financing institution or the banks providing home loans to the buyers. This processing fee needs to be paid by the buyer.

• When a buyer takes home loan for buying flat, the other fees that are likely to go hand in hand would include the fees towards the fire insurance, insurance fees etc. which the home financing institutions or the banks providing home loans would ask for while applying for home loans for buying the apartments.

In spite of this, there are some optional expenses which can be expected by a buyer of the flats. A purchaser has to consult a legal adviser to clarify whether the documents are legally clear without any encumbrances. The buyer should also be prepared to take care of some expenses that can be arising out before occupying the assets like any alterations required, home interiors and for other facilities that are focused by the buyer. It is vital to be aware of all these expenditures that are to be focused well in advance so that the home buying process goes smoothly.