Buying a home involves more than just choosing the right location and floor plan — it also requires understanding key pricing terms used in real estate. One of the most important among these is BSP, or Basic Sale Price. Whether you’re exploring under-construction flats in Thane, new residential launches, or luxury apartments, knowing what BSP means helps you make informed financial decisions and avoid unexpected costs later.

At Urvik Consulting, we assist homebuyers in evaluating property cost structures clearly, ensuring transparency at every step. Here’s a simple breakdown of what BSP means and why it matters.

What is BSP (Basic Sale Price)?

The Basic Sale Price is the base price of the property charged by the developer. It does not include additional charges such as parking, maintenance, government taxes, registration fees, or amenities.

BSP is usually quoted on a per square foot or per square meter basis of the carpet area or built-up area.

Example

If the BSP is ₹5,000 per sq. ft. and the carpet area of the flat is 1,000 sq. ft., then:

Basic Cost = 5,000 x 1,000 = ₹50,00,000 (₹50 Lakhs)
This is only the starting cost. Other charges will be added to arrive at the final property value.

Why is BSP Important for Homebuyers?

Understanding BSP helps you:

• ✅ Compare pricing between different builders and projects
• ✅ Estimate total investment required before booking
• ✅ Plan your down-payment and EMIs effectively
• ✅ Apply for a home loan based on accurate property value

When comparing two properties, always check whether the builder is quoting BSP or All-Inclusive Price, as this can significantly impact your cost.

What is Not Included in BSP?

BSP is the starting point of pricing. The following charges are extra:

Additional Charge Type	Description
Parking Charges	Car or two-wheeler parking may be billed separately
Amenities Charges	Clubhouse, gym, pool, landscaped gardens, etc.
GST	Applicable on under-construction properties
Stamp Duty & Registration	Mandatory government charges for ownership transfer
Maintenance Deposit	Advance payment towards society upkeep

Always verify the all-inclusive cost before booking.

What Affects BSP in a Property?

1. Size of the Apartment

A larger unit (e.g., 2 BHK in Thane Ghodbunder Road) will naturally have a higher BSP than a smaller home (e.g., 1 BHK under ₹50 Lakhs in Thane).

2. Location

Areas with better connectivity, infra development, schools, hospitals, and commercial hubs command higher BSP.
Upcoming metro, highway expansion, and business districts in Thane have influenced BSP in areas like:

• Wagle Estate
• Pokhran Road
• Manpada
• Kasarvadavali

3. Developer Reputation

Projects by reputed developers with timely delivery and quality construction often have higher BSP — but they also generally offer better long-term appreciation and peace of mind.

4. Market and Regulatory Conditions

Government policies, demand-supply trends, and infrastructure development also impact BSP in a region.

Conclusion

Understanding Basic Sale Price (BSP) is essential for making the right property investment decision. It helps you estimate the true cost of a home, compare properties confidently, and avoid hidden surprises during booking.

If you’re planning to buy a home, ensure price transparency and evaluate the complete cost structure — not just the BSP.

At Urvik Consulting, we help buyers compare projects, analyze pricing, and choose the right property aligned with both lifestyle and investment goals.

When it comes to property ownership and inheritance in India, many homeowners believe that simply adding a nominee to their property documents ensures smooth transfer of ownership after their lifetime. However, this is a misconception that often leads to legal disputes among family members.

The reality is:
A nominee is not the owner of the property. A nominee is only a caretaker or trustee.
The legal heir, on the other hand, is the person who is lawfully entitled to inherit the property as per succession laws.

Understanding the difference between a legal heir vs nominee is essential for every property owner to ensure their assets pass on smoothly to the right people — without conflicts or litigation.

Who is a Legal Heir?

A legal heir is an individual who is entitled to inherit the property of a deceased person under inheritance and succession laws of India. Typically, legal heirs include:

• Spouse
• Children
• Parents

The governing laws vary based on religion:

Community / Religion	Applicable Inheritance Law
Hindus, Sikhs, Buddhists, Jains	Hindu Succession Act, 1956
Christians & Parsis	Indian Succession Act, 1925
Muslims	Muslim Personal Law (Shariat) Act, 1937

Legal heirs gain full ownership rights and can sell, transfer, or manage the property once they obtain:

• Succession Certificate, or
• Probate of Will, if a valid will exists.

Who is a Nominee?

A nominee is a person appointed by the property owner to temporarily take charge of the property or assets after their death. The nominee’s role is custodial, meaning:

• They are not the owner
• They cannot sell the property unless they are also a legal heir
• They must hand over the property to the rightful legal heirs

Nominees are commonly appointed in:

• Bank accounts
• Mutual funds & insurance policies
• Housing society membership forms

Important:
Nomination does not override succession law. Even if you list someone as a nominee, the property legally belongs to the heirs.

Legal Rights: Legal Heir vs Nominee

Aspect	Legal Heir	Nominee
Ownership Rights	Gains full, permanent ownership	Acts only as caretaker
Ability to Sell Property	Yes, after formalities	No, unless also a legal heir
Source of Rights	Succession Law / Will	Owner’s nomination declaration
Recognition by Court	Fully recognized	Considered temporary custodian

Responsibilities of Each

Legal Heir

• Takes long-term control of the property
• Distributes property among family as per law or will
• Can initiate or defend claims in court

Nominee

• Takes charge immediately after the owner’s death
• Maintains and safeguards property
• Transfers ownership to the legal heirs after legal completion

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How Are They Selected?

• Nominee: Selected voluntarily by the property owner during their lifetime.
• Legal Heir: Determined by law, or through a will written by the owner.

This means writing a Will is essential to ensure clarity of inheritance.

What Happens in Case of Dispute?

If a nominee tries to claim ownership, and legal heirs contest the claim:

• Courts always favor legal heirs
• Nominee must legally hand over the property to heirs

The Supreme Court has repeatedly ruled that nomination does not grant ownership.

Update: Recent Legal Development (2025)

A 2025 Supreme Court judgment further clarified:

• Legal heirs are the true owners, regardless of nomination
• A nominee cannot stop heirs from claiming or selling inherited property
• A single legal heir may sell ancestral property under specific conditions, reinforcing inheritance rights

This update makes estate planning more important than ever.

Why Homeowners Should Know This Difference

Understanding legal heir vs nominee helps you:

• Avoid inheritance disputes
• Ensure your property goes to the right people
• Protect family from legal battles and emotional stress

What You Should Do

✔ Write a valid will
✔ Appoint nominees only for temporary asset holding
✔ Inform your family about your estate planning decisions

Conclusion

A nominee is not the final owner of your property — they are only responsible for managing it until it is legally transferred to your legal heirs. As we move into 2026 and beyond, proper estate planning becomes critical to ensure your property is passed on smoothly and rightfully to your loved ones.

Being informed today can prevent disputes tomorrow.