Provident Botanico Cost Sheet

Provident Botanico The cost sheet provides details of various heads under which the developer charges a certain amount. Providing a detailed cost sheet will raise several questions from the buyers, who may need more clarification on the statutory norms involved. Different terms used in the cost sheet during property purchase are:

Base Price includes the land cost (or the UDS cost) and the construction cost. It is the price derived by multiplying the rate per sq. ft and super built-up area.

It is the statutory charge paid by the developer to the civic authority for developing major infrastructure projects in the region

The developer pays the statutory charge to the civic authority for developing essential facilities in and around the project, like street roads, water supply pipelines, sewer pipelines, rainwater drainage pipelines, waste management systems, community parks, etc.

This charge includes amenity and infrastructure development like internal roads, street lighting, water supply pipelines, sewer pipelines, rainwater harvesting systems, transformer and sub-station, power backup systems, fire detection and fighting systems, and waste management systems.

It is usually a one-time fee from the buyer when booking a property.

This non-refundable amount shall be transferred to the association or society on its formation. This fund shall be used for contingency purposes such as breakdown maintenance of common area utilities, upkeep of building façade, etc.

It is a recurring charge collected quarterly, half-yearly, or yearly in advance, as decided by the association/society, where a developer can appoint a Facilities Management Company to undertake all maintenance activities such as civil patchwork, electrical and plumbing maintenance works, security, landscape

The developers charge a fee towards expenses for verifying title deeds, drafting agreements for the sale of UDS, drafting construction agreements, drafting sale deeds, and any incidental charges.

With the implementation of the G.S.T. Act that came into effect on 1st July 2017, the developers were mandated to charge G.S.T. from the buyers for purchasing an under-construction property and, in turn, pay the G.S.T. to the Government of India.