Undisclosed charges adding up your property costs in Bangalore

The real estate developers of Bangalore give rather unpleasant surprises to the home buyers by offering possession letter which have several charges and bills of things which weren’t disclosed earlier by them. This leads to a gradual rise in the price of the properties. Terms and payment related information should be made clear to the buyer beforehand. This is because the buyer takes much effort to get the dream home sorted out and purchase it with all the hard earn money. As such, clearing out all the costs-both hidden and revealed should be cleared out with the buyer to avoid any price rise and unpleasant surprises later on.

The real estate developers seek additional charges in the name of different additional costs. While there are developers who add labour welfare charges, there are few others who demand money in the name of effective authority meters. There are also other additional charges like the one-year advance fees for society maintenance among many others. These costs in total increase the price of the properties giving a hard blow to the property buyers.

Experts are of the view that real estate developers are constantly under stress face many issues of untimely cash flow in the projects in Kanakapura Road leading them to include additional charges. In earlier times, costs like these were a part of the total cost of the property and weren’t at all demanded separately from the buyers. However, with change of time, the developers nowadays add them as separate charges

Another expert blames lack of demand as a reason for adding these costs. When the demand for the properties is low and not enthralling, the developers add new costs. Though they reduce the property base prices, they increase the total by inclusion of additional charges. This leads to price rise and the addition of subsequent charges during the time of possession of the house. This may also raise the price of the house by about 10-15 per cent. The additional costs are added across a number of properties in Bangalore. Properties and new projects in Kanakapura Road have witnessed developers adding maintenance fees and labour costs as additional charges for the customer.

When it comes to charges, it is a complete chaos issue which will only get worse with time without a good regulatory board for it. Developers across Bangalore add costs like advance maintenance fees, legal consulting fees that are said to be charged for fastening the registration process and also covering the expenses related to that. Some developers also add water charges and piped natural gas connection charges as additional costs.

The additional costs thing have surprisingly be seen a recent trend of the developers. Earlier, the developers would easily do the well maintenance of the sites in Kanakapura Road housing society for free of cost or for an appropriate nominal fee for the first 1-2 years. However at present times, this technique is seen evolving and has become a money making tool for developers. There is whatsoever, no effort and focus on well improving the quality of the services provided to the residents.

In these cases, a customer should be well aware of the costs and be vigilant while purchasing and dealing in the property with the developer. He/she should carefully look at the charges which are being disclosed and mentioned well by the developers.