You search for a project online and see a price. Another site shows a different one. Then the builder quotes something else. It is confusing, especially for a first home. Here is why it happens.
Where online prices come from
Listing sites often collect prices from agents, past ads or user posts. The builder may never have shared them. Some figures are old, some are guesses, and some are for a different size or floor.
Different numbers that all look like "the price"
- Base price: the rate for the home itself.
- All-in price: base price plus charges such as parking, club or development charges.
- Final cost: all-in price plus GST, stamp duty, registration and advance maintenance.
A low headline number is often just the base price.
What a headline price often leaves out
- GST on under-construction homes
- Stamp duty and registration, paid to the government
- Car parking, if charged separately
- Corpus fund and advance maintenance
- Floor or view charges, where they apply
A worked example: one home, three prices
All figures here are invented to show the arithmetic. They are not Reeva prices.
- Base price: ₹60,00,000
- Car parking: ₹3,00,000
- Club membership: ₹1,00,000
- All-in price: ₹64,00,000
- GST at 5% on an under-construction home: ₹3,20,000
- Corpus fund and 12 months' advance maintenance: say ₹1,07,800
- Stamp duty and registration: as per Karnataka's schedule, on the value the rules require
Before stamp duty, the total is already ₹68,27,800. A listing that shows "₹60 lakh" is not wrong, but it is not your cost. For budgeting, the gap matters more than the headline.
The per square foot trap
Rates per square foot are where comparisons go most wrong. Take the same home at ₹60,00,000.
- On a carpet area of 1,000 sq ft, the rate is ₹6,000 per sq ft.
- On a super built-up figure of 1,300 sq ft, the same price works out to about ₹4,615 per sq ft.
Same home, same price, two very different-looking rates. When one listing seems far cheaper per square foot, check which area it uses before getting excited. Compare carpet area with carpet area.
Why sites disagree with each other
They use different sources, update at different times and measure area in different ways. RERA requires builders to sell on carpet area, which is the usable floor area inside your home. Some listings still quote larger "super built-up" figures, which makes the rate per square foot look different.
Charges set by the government
These are the lines a builder cannot discount, because the money goes to the government, not to the builder. Knowing that helps you spot an offer that sounds too good: a builder can absorb a charge on your behalf, but the charge itself still exists.
Stamp duty, registration and GST are set by law, not by the builder. They are worked out on the agreement value or the official guidance value, whichever the rules require.
Why the same project's price can change
Even the builder's own price is not fixed for ever. It can differ between homes in the same building, and over time.
- Floor and facing: some builders charge more for higher floors or certain views.
- Stage of construction: prices are often revised as a project moves towards completion.
- Offers: a time-limited scheme may change the base price or include a charge for free.
- Unit size and layout: corner units or larger balconies may be priced differently.
So two buyers in the same project can honestly pay different amounts. That is another reason to compare cost sheets, not headline figures.
How the law helps you here
The Real Estate (Regulation and Development) Act, 2016 (RERA) gives you some solid footing. Section 12 lets you claim compensation if you paid an advance relying on an ad or brochure that turns out to be false. Section 13 caps the advance at 10% before a registered agreement for sale, and says the agreement must state the price and the payment schedule. Section 11(2) requires every ad to show the project's RERA registration number, so you can check the listing against the official page.
What to ask if a broker or site quotes you a price
- Is this the base price or the all-in price?
- Which unit, floor and carpet area is it for?
- When was it last confirmed with the builder?
- Does it include GST, parking and club charges?
- Can you share the builder's cost sheet that it comes from?
If the answers are vague, treat the number as a rough guide only, and go to the builder directly.
How to ask for a proper cost sheet
Ask the builder for an itemised cost sheet in writing. It should show the carpet area, every charge, GST, the payment schedule and what is included. Compare homes using this, not listing prices.
Step by step: comparing two homes fairly
- Get an itemised cost sheet from each builder, dated and in writing.
- Write the carpet area of each home in square feet and square metres.
- Add every charge that is compulsory: parking, club, development charges, corpus and advance maintenance.
- Add GST at the correct rate for each, based on its stage and category.
- Estimate stamp duty and registration on each, using the current Karnataka schedule.
- Divide the total by carpet area for a true all-in rate you can compare.
- Check the payment schedule, because when you pay matters as much as how much.
Common mistakes first-home buyers make
- Treating a listing price as a quote. Only the builder's cost sheet is a quote, and only the agreement is final.
- Comparing a carpet rate with a super built-up rate. One will always look cheaper.
- Leaving out GST and registration. Together they can add several lakh to the cost.
- Trusting "limited-period" prices without paper. Ask for any offer in writing, with its terms.
- Not asking what is included. Fittings, kitchen, power backup and parking vary a lot between projects.
Checklist: what a good cost sheet shows
- Project name and RERA registration number
- Unit number, floor and carpet area
- Base price and each additional charge, line by line
- GST rate and amount
- Payment schedule linked to milestones
- What is included and what is extra
- Date, validity and the name of the person issuing it
Budgeting with a range, not a single number
Until you have a cost sheet, plan with a range. Take the headline price you have seen and build a rough all-in estimate around it: add likely extra charges, GST at the right rate, and an allowance for stamp duty and registration. Then test the loan and down payment at the top of that range, not the bottom. If the top still works for your take-home pay, you can shortlist with confidence. If only the bottom works, you may be stretching. Once you get the itemised sheet, replace the estimate with the real figures and check again.
Which number counts
The number in your registered agreement for sale is the one that governs. Everything else is just an estimate.
At Reeva Properties we do not publish prices online. Price is on request, so you get a current, itemised figure straight from us.
If you are looking at Sarjapur–Attibele Road, you can ask us anything about The Shalott Marque. Call +91 91838 91839; price is on request.