You found a ₹80 lakh apartment and budgeted ₹80 lakh. The problem? The real cost of owning it is often 10–15% higher. Here are the extras Chennai buyers routinely forget — so you can budget properly.
1. Stamp duty & registration
The big one. In Tamil Nadu a sale attracts 7% stamp duty + 4% registration on the guideline value — that's roughly ₹8.8 lakh on an ₹80 lakh property. Get the exact figure for your deed type with the Stamp Duty & Registration Calculator.
2. GST (for under-construction homes)
Ready-to-move homes don't attract GST, but under-construction properties do (at the applicable rate). If you're buying a project that isn't complete, factor this in.
3. Home-loan costs
Processing fees, legal/technical valuation charges and documentation add up. And remember the interest itself — see the full picture with the EMI Calculator, and check your eligibility with the Loan Eligibility Calculator.
4. Maintenance & deposits
Apartments usually need a one-time maintenance/corpus deposit, plus monthly maintenance. Gated communities cost more for the amenities.
5. Parking, interiors & move-in
Covered parking is sometimes priced separately. Then come interiors, modular kitchen, fittings and the move itself — easily several lakh depending on your taste.
6. The ongoing ones
- Property tax (annual, to the local body).
- Society maintenance and sinking fund.
- Home insurance (optional but wise).
Budget like a pro
Add roughly 12–15% on top of the sticker price for the one-time costs, and keep a buffer for interiors. Do the math first with our free tools, then browse homes that fit your true budget — not just the asking price.
Figures are indicative. Confirm rates with your bank, builder and the SRO.