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Buying a flat in Thane is an exciting milestone. With excellent infrastructure, proximity to Mumbai, and rapidly developing neighborhoods, Thane has become a prime real estate destination for both end-users and investors.
However, many first-time buyers are shocked to discover that the price advertised by developers isn’t the final amount they’ll pay. Beyond the base price of the flat, there are several hidden costs that can significantly impact your budget.
At Urvik Consulting, we believe in total transparency. Here’s a comprehensive guide to all the hidden costs you should factor in before purchasing a property in Thane.
1. Stamp Duty and Registration Charges
This is one of the biggest hidden costs buyers often overlook. When you buy a property in Thane (or anywhere in Maharashtra), you must pay:
- Stamp Duty – Currently around 6% of the agreement value in Thane.
- Registration Charges – Typically 1% of the agreement value.
For a flat costing ₹1 crore, that’s ₹6 lakh in stamp duty and ₹1 lakh for registration, adding up to ₹7 lakh over and above your purchase price.
2. GST on Under-Construction Properties
If you’re buying an under-construction flat in Thane, you’ll pay GST (Goods and Services Tax):
- 5% GST on residential property without input tax credit.
For a ₹1 crore under-construction flat, this adds another ₹5 lakh. However, note that GST is not applicable on ready-to-move-in flats.
3. Floor Rise Charges
Most Thane builders charge a premium for higher floors, called “floor rise charges.” For instance:
- ₹50–₹100 per sq. ft. extra for each floor above a certain level.
On a 1,000 sq. ft. flat, buying on the 10th floor instead of the 1st could cost ₹50,000–₹1 lakh extra, depending on the builder’s policy.
4. Development Charges and Infrastructure Fees
Builders in Thane often pass on government levies to buyers in the form of:
- Development Charges
- Infrastructure Fees
- Fire Safety Charges
These can total ₹100–₹300 per sq. ft., depending on the project. For a 1,000 sq. ft. flat, that’s ₹1–₹3 lakh more.
5. Clubhouse and Amenities Charges
Thane’s new projects boast modern amenities like swimming pools, gyms, landscaped gardens, and clubhouses. But these aren’t always included in the base price. Builders often charge:
- One-time clubhouse charges (₹50,000–₹2 lakh)
- Annual maintenance fees for amenities
Always check your agreement to avoid surprises.
6. Legal and Documentation Fees
When buying property in Thane, budget for:
- Lawyer’s fees (₹10,000–₹25,000) for agreement vetting
- Documentation charges for agreement preparation, power of attorney, etc.
Though small, these costs are essential for safe transactions.
7. Home Loan Processing Fees
Planning to finance your flat purchase through a bank? Banks charge:
- Processing fees of 0.25% to 1% of the loan amount.
On a ₹75 lakh loan, expect ₹18,750–₹75,000 as processing fees.
8. Society Formation and Share Money Charges
Once a building is complete, the builder usually charges each buyer for:
- Society formation costs
- Share certificate fees
This might range between ₹10,000–₹50,000 per flat in Thane.
9. Advance Maintenance Charges
Many builders collect 1–2 years’ advance maintenance at possession. This ensures funds for security, cleaning, lifts, lighting, and other society expenses. Depending on your project’s amenities, expect ₹50,000–₹2 lakh upfront.
10. Interior and Furnishing Costs
Finally, don’t forget your flat needs interiors! Unless you buy a fully furnished apartment:
- Kitchen trolleys, wardrobes, false ceiling, lights, fans, etc. can easily cost ₹5–₹10 lakh or more for a standard 2 BHK in Thane.
Why Transparency Matters
Thane’s real estate market is booming, but buying a home without knowing these hidden costs can stretch your budget and cause financial stress. At Urvik Consulting, we always provide clients with all-inclusive pricing, so there are no unpleasant surprises later.
Before you finalize your dream home in Thane, ask your builder or agent for a detailed cost sheet, including every hidden expense. It’s the smart way to plan your finances and enjoy your new home stress-free.
Also Read : A Comprehensive Guide to Home Loans in Thane and Mumbai
Final Words
Thane offers exceptional opportunities for homeowners and investors alike. However, being prepared for these hidden costs is the key to a smooth buying journey. If you’re considering purchasing a property in Thane, connect with Urvik Consulting. Our team will help you navigate the process transparently, ensuring you know exactly what you’re paying for.
Your dream home should be a source of joy—not unexpected bills. Let Urvik Consulting help you buy smart!