Before diving head-on into purchasing an investment property, it’s important to make sure that you understand all of the ongoing or hidden costs that may be involved. own-a-roofReal estate is by far the biggest investment that the average person takes up and in most cases is at the upper scale of the limit of his financial capabilities while doing so.Therefore encountering surprises in terms of new and hidden costs becomes extremely difficult to handle or cater for. Registration Cost: you must be kept in mind that the registration cost forms a substantial amount depending on the total worth of the property. In most states the entire legal charges in terms of stamp duty and registration fees add up about 5 % to 10% of the property cost. Typically the stamp duty is about 5% to 7% which means that if one has to buy a property worth Rs. 50,00,000/ then stamp paper worth Rs 3,60,000/ has to be purchased for typing the sale deed on it. Parking-space This trend over the last decade to charge an additional upfront payment for exclusive parking spaces in large residential apartments. This amount could vary from 1 lakhs to 3 lakhs depending on the type of property, locality and type of parking space being provided. Maintenance deposits The latest projects have a trend of charging upfront maintenance deposits for a longer period like 10 years instead of the conventional periodic charges. This is to the disadvantage of the buyer as he will have to pay a lump sum amount initially for which he will pay interest on the borrowings.

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