Whenever the discussion is about acquiring your own house or flat , we Indians are a little emotional about this topic. Splurging on a flat or a villa is not just about any profitable investment that we make in a lifetime, but it is the most heartfelt desires that one can have. And nothing can be better than purchasing a luxury villa for sale in Anjuna or near Baga beach.
Once you make your mind to buy a decent piece of beachside property in North Goa, the price factor does not come to the forefront. When I visited Baga to make a purchase of my dream villa, I was surprised to know that the prices of the properties were way less than South Goa. This is what compelled me to invest in a luxury homes near Baga beach from a renowned real estate developer.
If you are confused where to purchase a luxurious place, both Baga and Anjuna are the best options. As I’m already working in this domain, let me suggest you some hidden cost factors. Are you interested to know about it? Well, let’s get started!
4 hidden costs to luxury villa for sale in Anjuna and Baga
- Registration and stamp duty cost
As registration of a property is a mandatory charge which you have to pay to the government, it is a considerable amount out of the total worth of the property. Currently, the registration and stamp duty cost in Anjuna has been slashed to only 0.6%. This means that if I have to buy a villa or a luxury house here worth 50 lakh, the stamp paper would be worth Rs. 1,75,000.
You should know that apart from this registration charge, there is also an additional 1% – 2% of the property cost payable to the court. Aside from these costs, another 1% of the property cost is required to be paid to the legal counsel who helps complete the verification and registration procedures.
- Utility charges
These are the numerous charges that are associated with a villa or an apartment. Some of the charges which I know are parking charges, maintenance bills, electrification (mother meter), extra cost regarding water supply tanks and much more. If you feel interested in investing in luxury homes near Baga beach or at Anjuna, it is better to research about these extra cost factors.
- Extra taxes
I am sure, you will definitely have an idea that any under-constructed building for sale is liable for service tax and VAT. What you need to know is the percentage of the tax levied on these properties. You can expect the VAT charges to stand somewhere between 1 to 5.5% of the total property value whereas service tax stands at 12.36% of the 1/4th property. All together you may have to shell out 8% to 10% of your purchased property estimate. This price percentage is way less than the estimates of other place’s property price.
- Maintenance deposits
There are certain builders who charge clubhouse membership fee on a yearly basis for luxury villa for sale. You need to discuss such membership fees in advance to the developers before the information falls out of blue for you.
When you purchase luxury villa for sale in Anjuna or a house near Baga beach from trusted and renowned developers, you are made aware of such charges relieving you of any inconveniences. You can go through their official websites for more information. I hope these hidden cost idea will help you manage the extra expenditure you may face while buying your dream villa in Goa. With reputed professionals, house hunting is much convenient now!