Archives: October 29, 2013

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October 29, 2013

The Need for Using Energy Efficient Doors in a Housing Society

Housing society residents from across the country are moving from ornamental and beautiful doors to energy efficient doors that provide the required insulation, helping them save money.Depending on the housing society, such energy efficient doors are installed in all flats. If your housing society does not feature such doors, you can have them individually installed.

energy efficient doors

How Do These Doors Help?

These energy efficient doors are made of materials like wood, glass and steel fiber that help in conserving energy within the house. The cold and heat exchange levels are kept at a bare minimum so that the insides of the house don’t turn too stuffy or too cold.

These doors provide suitable insulation for the house and this can negate your need for buying heaters or air conditioners, helping you save a lot of money. These energy efficient doors also prevent pollution, insects and bacteria from entering the house, and you’ll be less prone to diseases.

During winters, the humidity in the air is normally very low. These doors will help in avoiding static shocks in such situation and they can keep the house cool all through the summer too.

What are the Types of Insulation?

The most common material used for insulation is polyurethane foam. Glass is not suitable enough for insulation so modern glasses need to be used. There are certain materials such as fiber glass skin that have weather stripping properties. The openings in the door that allow the exchange between the outside and inside space are sealed.

Installation Process in a Housing Society

In most cases the original doors are removed from the housing society flat and two frames are kept in place.

The door is then sealed with the help of foam that prevents air from going in and coming out. Foam is used as it has a major property of thermal insulation.

Types of Energy Efficient Doors

There are various types of energy efficient doors that are designed for specific areas.

  • There is the storm door which is an outer insulated door placed on the external surface of the regular door, and this prevents the house from heavy rains and bad weather.
  • Garage doors are made of insulated aluminum and these prevent corrosion of the vehicles and other appliances.
  • Patio doors are difficult to insulate but outer and inner sides of the door can be somehow insulated.

Choosing an Energy Efficient Door

There are a few things that have to be kept in mind while choosing an energy efficient door, as the door should be resistant to weather, it should not be corrosive in nature and the emissive nature of the material should be low. Most importantly the door should be easy to install. Double layers provide better insulation than a single layer.

Energy efficient doors range from Rs 9000 upwards; but they are low maintenance, so you don’t have to worry about extra costs. Depending on the type of installation, the price can vary. You can invest your money in such doors rather than in other options like heaters and coolers and these are ideal for housing society flats.

Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

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ApnaComplex
October 26, 2013

Housing Society Living – Setting up the Right Storage Plan

Storage PlanA crammed up cabinet, inaccessible attics or bursting basements can be your nemesis if you are inefficient at managing your house storage system. Many people yearn for a bigger space or larger quarters when they feel their storage space is being suffocated with more items.Moving into a bigger space is not the only solution to crammed places. Storage issues have the bread and dough quality: they increase and occupy the entire volume of the container and create a sticky mess over the sides of the container. A perfect house storage plan is needed to put things in their right place. It will need some time to implement the ABC plan for storage management, but it should re-invent your place.

  • A – Assessment
  • B – Box and Banish; and
  • C – Control and Corral

The Assessment

Start figuring out all the things that you have and where should they fit in. In order to put all that in place, you have to assess your household storage possibilities and the storage needs of your family. Take an hour off your working time and make an assessment by formulating two lists.

First, check the area from the attic to the cellar and make a list of everything you want to store ‑ small or large. The space above the shelves and beneath the beds and storage spots in the backyard ‑ every place needs to be figured out.

Second, list out all the items that need to be stored. Importantly, list down all the items you need to store in your household such as seasonal décor items, clothing, sporting goods, household file archives, hospitality supplies, hardware and tools and original packaging of the items you had bought.

Banish and Box

You can store the seasonal decoration items under the furniture or on shelves and mark it. Similarly, during summers, you can store all the woolen clothes under your bed or in the cupboards. The new loft-styled beds have a lot of drawers and storage places which are hidden. These can be made use of by storing quilts and other warm clothes.

There are a lot of furniture items that have secret storage and can store many items. You can use large furniture to divide a large room into two such as a utensil cupboard for separating the kitchen into a dining hall and cooking space.

Corral and Control

To store most of the stuff, buy plastic air tight containers with lids so that most of the items do not become damp or develop a bad odor. Maintain a color coding to sort out things; this will make things easier to find when you are in a hurry. Cardboard boxes can be used to store old clothes and other memorabilia, and they can be kept above the furniture and shelves. You can buy a movable rack or hanger and attach it behind doors to save space.

You will be delighted to find that the space of the house has increased after you have completed the above-mentioned steps.

Get your Society on ApnaComplex – Today!

ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

Leave a comment InApartment Management Smart Living Tips
ApnaComplex
October 26, 2013

The Housing Society Guide for Removing Monsoon Moss

The monsoon is welcomed in every Indian city and rightly so, because the entire atmosphere becomes fresher and greener right after the gruelling heat of the summer. However, come monsoon, you will have to face a hoard of problems starting with stagnant water to monsoon moss in your housing society.Removing monsoon moss

During the monsoon season, the persistent moisture in the air will gradually result in the formation of moss in any structure. In a housing society, the main sections that will be affected include the roofs of buildings, walkways and stone walls.

If you observe the formation of moss over your property or anywhere else in the housing society for that matter, bringing it to the notice of the maintenance team is essential. The formation of moss can weaken the building’s structure and the foundation also becomes weaker when the issue is ignored.

Using Gutters to Control Moss


Most housing societies sport gutters along the roofs of their buildings and this can provide an effective solution for a variety of problems ranging from moss formation to fungal development along the roofs.

If the roof over your balcony or the one that slopes above your windows doesn’t have a gutter, you can take the initiative to add one yourself by hiring the right professionals. With gutters, you can take care of unnecessary rotting and moisture control as well.

Removing Moss Off the Roof


If you like rolling your sleeves up and getting things done, you can try your hand at removing moss off your roof – or you can also hire a professional who can do the same.

  • You can use a broom with soft bristles in order to lightly brush away the moss that’s present on the roof. Metal rakes can also be used for this purpose. Moss will generally have thin roots, making it easy to remove.
  • Small fragments of moss and other organic matter might be left even after you use a broom, so hosing down the roof is a good idea. This will help you eliminate all traces of moss and prevent its further development.
  • Any organic debris that’s stuck in the roof can decompose, preparing an ideal ground for moss to flourish in, so run a check and remove all debris that maybe present between the tiles.
  • Trim the branches that extend over the roof as these can deposit organic debris and also aid the formation of moss by providing shade during the already moist conditions.

Removing Moss From Brick Walls


Moss that accumulates over brick walls can grow back time and again, so you’ll need to constantly check for signs of moss and remove the same time and again.

  • Bleach can be used to remove moss of walls, and this can be used in a spray cleaning bottle.
  • Once you spray the mossy part of the wall with bleach, the moss will turn white.
  • You can then use a hose to wash off all moss from the wall. You can use power washing tools for this purpose too.

The maintenance team in any apartment complex will be in charge of attending to moss growth and ensuring its proper removal, so notifying the team regularly is an ideal thing to do.

Get your Society on ApnaComplex – Today!

ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trail as well so that you can try before you buy!

Leave a comment InHousing Society Maintenance Tips Smart Living Tips
ApnaComplex
October 25, 2013

The Advantages of a Biometric Attendance System – A Look at the Perks

In this age of cutting-edge Technology and Science, Biometric technology is gradually becoming a useful tool with a bunch of myriad applications. Biometrics technology can be found everywhere: in schools, companies, organizations, libraries and offices, irrespective of the size of the organization.
Biometric Attendance systm

The Advantages of the Biometric System Over Conventional Systems

The type of applications that can be implemented through the Biometric technology is diverse, ranging from visitor management service to face recognition systems. Electronic attendance is one of the biggest advantages of the Biometrics technology, and it is a great help in maintaining a procedure and security levels.

This biometric time attendance is generally used to maintain a record of each and every visitor coming into your apartment and to track down whether he or she really is the person who is supposed to come. A face recognition system can be installed to cross-check the person’s identity and maintain his check-in time and check-out time along with other details.

The Biometric attendance system has a lot of advantages over the conventional methods of security that are usually implemented at your place. Maintaining a register where people manually note down their entry and exit timings might have flaws sometimes, and it is also time consuming. The biometric system erases the possibility of any error and it is quite efficient.

How can you Secure Your Home With Biometric Security

The technology has evolved into a very user-friendly system that can be used by anybody. The process is very fast as the user has to just glance towards the biometric face recognition system, and all the details will be recorded automatically and accurately. The possibilities of buddy punching, early punching and late punching can be carried out with a lot of ease.

The biggest advantage of the Biometric attendance systems in homes and apartments is the amount of security it provides. Business organizations can integrate the biometric system to their account systems, billing systems and payroll systems.

The Biometric Security Advantages

Home security is a major concern in the present day world considering the alarming rate of crime and burglary taking place. With the new range of biometric security systems such as alarm systems, EM door locks, video door phones and fingerprint RFID door locks your home is totally safe and secure.

You don’t have to worry about leaving your house for a long vacation. The biometric processing is an entirely machine to machine process and hence the processing is faster and better.

Why Should you Get It?

Biometric attendance system is a more refined way of managing security in your apartment. This system also has a database where all the details of the visitors can be stored. Biometric security is easy to maintain and more accurate in pointing and alarming you in case of threats.

The face recognition or the fingerprint reader system can be installed in your home. These systems are easily accessible now-a-days and come at an affordable price. Moreover, when it comes to the maintenance of the security in your home, you should not compromise on the quality of service.

Get your Society on ApnaComplex – Today!

ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trail as well so that you can try before you buy!

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ApnaComplex
October 24, 2013

How to Choose a Generator for Your Housing Society

Any housing society should have proper power backup facilities or generators for its residents to enjoy living in the complex on a long term basis. Power backup has become a basic necessity as lengthy power cuts have become the order of the day. Instances of power cuts can interrupt daily life especially during the tropical summer.Choosing a generator for the housing society

The worst effect of a power cut that housewives try and counter is food spoilage. Choosing a generator is not an easy task and the housing society management should carefully look into the smallest details before purchasing a generator.

Steps to Choose a Generator

Here are some simple steps that a housing society must follow while choosing a generator:

  • Identify The Need

The housing society management needs to create a rough estimate of the appliances and fixtures that need to operate even during power cuts. Generators are not installed as substitutes for a power cut, they just aid in providing the basic facilities required during load shedding.

  • Create a Financial Estimate

An estimate should also be created on the expenses involved and the amount of money that can be spent on the power backup services. This will be taken care of the housing society management too, as all residents would have paid a predefined amount for the power backup option. Money can otherwise be collected from all the permanent residents, who can then install the power backup service.

  • Compare the Types and Decide

There are different types of generators, and the housing society management should go through these types in order to determine the one that will be effective, taking the size of the housing society into account. Professional help can be useful in this regard.

There are different types of generators, including:

  • Diesel Generators
  • LPG Generators
  • Natural Gas Generators
  • Gas Generators

Depending on the size of the apartment complex, diesel or gas generators can be chosen. Comparing the advantages and disadvantages of these generators can be useful.

When choosing a generator, the housing society management must find out the wattage provided by the generator, and this is usually stamped on the electrical data plate or the motor name plate of a generator.

Inductive load appliances normally require heavy power for the initial start up. For this reason, the inductive load appliance figures need to be calculated.

Gas engine generators have an added disadvantage of carbon monoxide poisoning. Such generator units need to be placed at a safe distance from the apartments. The manufacturer might try and conceal the run time offered by a gasoline generator and this should be ideally noted.

Battery invertors are quiet options that can be used in individual houses separately. The batteries need to be recharged time and again, and they will be able to provide only limited service. Battery invertors will not be ideal for places that experience long outages.

  • Install and Test the Generator

Once the type of generator is decided upon, it can be professionally ordered and installed. Information on how to use the generator and its many functions is something that needs to be trusted with one individual. An employee can be hired to run and maintain the generator and fix any minor issues that may surface in the future.

Installing a generator is not an easy task and a lot of research should be put in before a collective decision for the housing society is made. Residents can contribute with their inputs during meetings.

Get your Society on ApnaComplex – Today!

ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trail as well so that you can try before you buy!

Leave a comment InHousing Society Smart Living Tips
ApnaComplex
October 23, 2013

How To Deal With Laborers In Internal Construction Projects

Renovation or modification work often involves hiring skilled laborers for getting specific jobs done, such as carpentry, cementing, painting and electrical works. Having to rely entirely on the laborers leaves a home owner clueless in most circumstances. Here are a few suggestions and tips to help you effectively manage the laborers working on your construction projects.

Common Questions That Most People Have Regarding Laborers

1.     Where do I find laborers, and how do I approach them?

Laborers seldom have a hiring agency where you can go and contract the desired labor. You will most probably have to ask around and see if any of your friends, relatives or acquaintances knows any laborers that they have worked with before. Another possible way to source labor is to visit construction sites and ask the contractor or supervisor if they know of any laborers who would be willing to work on your project.

2.     How many laborers do I need to get the job done?

It is a bad idea to ask your laborers how many of them you would need to complete the job. It’s essential that you have a fair idea about the work that needs to be done and the amount of labor it would require. You need to be able to set down a definite number of workers or you’ll be scammed into hiring excess labor at your expense.

3.     For how long do I need the laborers, and how do I fix the remuneration?

Laborers work on time schedules and charge by the hour or by the day. You need to work out the timelines before you begin searching for laborers. Be realistic, yet firm on the deadline. Regarding remuneration, it’s best if you spoke to different laborers or people you know who have recently hired laborers and enquire about the average pay. The cheapest laborers may not necessarily be the best. Go for the ones who promise to meet your deadlines and yet charge reasonably. Make sure you settle the payment policy beforehand, i.e., hourly or daily rates, payment schedule and advance amount.

4.     What is the most effective way to communicate with them?

Communication is very vital for the success of any endeavor. Most laborers will be migrants from other states. Not being able to communicate with them will result in frustrations and unnecessary delays. Make sure you hire labors who speak a language that you are familiar with. Also, ensure that all the laborers speak a common language so that the work goes on smoothly among them.

5.     How should I handle or supervise the work that they do?

Be polite and patient with your laborers. The worst thing you could possibly do is to drive them away with your anger or persistent interference in their work. Give them precise orders and let it to them to finish the job. Losing your temper and yelling at them won’t make them do their job better.

The key to successfully completing your construction project is to effectively manage your laborers. Communication and team work are more likely to work than dictatorship and highhandedness.

Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

Leave a comment InApartment Management Home Decor
ApnaComplex
October 22, 2013

Guidelines For Transfer Of Property For NRIs

NRIs very commonly inherit immovable property from their family or relatives in India. Not knowing the correct procedure for transferring the inherited property into their name can lead to unwanted legal complications and added expenditure. Here are some common FAQs that will help you make a hassle-free transfer of property that you might have recently inherited.

What is the procedure for transfer of property?

The transfer property is done through mutation of revenue records or the transfer of khatha. The mutation of revenue records involves updating the details of the new owner of the property in the record books of the concerned Municipal Corporation or village panchayat.

What documents do I need to apply for a transfer of property?

  • Registered Will: Even though it is not mandatory to register a Will, registering a Will makes it a valid legal document. Make sure you have a registered Will to avoid any future complications.
  • Succession Certificate: A succession certificate from a competent court is required in the absence of a will. In order to obtain a succession certificate, heirs need to submit the death certificate of the deceased, birth certificates of the heirs, bank statement of the heirs, and a copy of their ration card(s).
  • Original Purchase Deed and Registration Documents: Make sure you have the original purchase deed and registration documents. For older properties without original purchase deeds, the heirs need to obtain certified copies of the title deed from the concerned land registrar’s office.
  • Encumbrance Certificate: The encumbrance certificate contains records of all the transactions that were made concerning that property i.e., sales, lease, mortgage, gifts, partition, and release. Make sure you have an updated encumbrance certificate.
  • Khatha: Khatha bears record of the property owner’s details such as his name, type of property, and taxation records. The khatha reflects the payment of annual property taxes, and differs from the property registration document which shows the sale or purchase of the property.

How can I avoid future legal issues or complications?

  • Make sure that a Will is made and duly registered. A fresh Will can be drafted and registered anytime. For legal purposes and transfer of property, the last registered Will is the one that is considered.
  • Make sure that the required documentation is done for individual property in order to establish ownership. It is always better to keep the title of the property updated in the current owner’s name, even if there are no disputes among family members.
  • Make sure that matters pertaining to property sharing and inheritance are discussed and agreed upon by all siblings to avoid future legal hassles and other complications.

Owning and transferring the title of a property in India can be a relatively easy process, provided you get all the documentation right. It is advisable to seek the aid of a reputed legal counsel or real estate agent in order to handle all the paperwork as you most probably will not have the time to apply for the transfer procedure yourself.

Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

Leave a comment InNRI Property Investment Real Estate
ApnaComplex
October 21, 2013

The Key Real Estate Agent Benefits And Disadvantages You Should Know

If you are in the market for a house, one of the first decisions you have to take will be whether or not to hire a real estate agent. While flying solo may save you a significant amount of commission fee, in most cases the real estate agent benefits fairly compensate the cost involved.

Here’s A Quick Look At A Few Real Estate Agent Benefits

  • Faster Access To The Latest Market Listings: Real estate agents can give you access to properties as and when they are put up on the market. Agents normally have access to other agents’ listings. This facilitates faster and wider access to the market.
  • Higher Negotiation Success Rates: Real estate agents have a better chance at negotiating a favorable deal. Being neutral gives them the freedom to be the bad guy in a transaction, without causing bad blood between a buyer and seller.
  • Save Valuable Time: You do not have to scour the local real estate listings on the internet, or drive around a neighborhood looking for “for sale” signs. All you need to do is tell the agent about the kind of home you are looking for, and the area you prefer to live in.  The agent then finds the most suitable properties.
  • Better Knowledge About Localities And Markets: An agent can be extremely valuable if you have just moved to a new city or town. The agent’s knowledge of the market can help you choose the most appropriate neighborhoods based on access to schools, hospitals, and shopping centers.
  • Experience Counts: A good agent will help you avoid costly mistakes by informing you about a property’s potential problems such as water seeping through the walls or a ceiling that may soon need replacing. Another of the real estate agent benefits is that an experienced agent will be able to refer you to trusted contacts such as a legal counsel, renovation expert, and an interior designer.

Here Are A Few Downsides Of Hiring A Real Estate Agent

  • Finding A Good Agent Can Be Very Difficult: Most agents make very few transactions per year, and this information is usually not made public knowledge. You might have to rely on a friend or a company’s recommendation when looking for a good agent.
  • An Agent’s Incentive May Clash With That Of The Buyer’s: Real estate agents get paid a commission only when a transaction occurs. This means that the agent would want to sell the house as quickly as possible for as high a price as you can afford.
  • The Buyer Pays For Both The Agents: While it might look like the seller pays the agent’s commission, it is actually the buyer who has to shell out the extra amount. Sellers normally factor in the cost of commissions for the seller’s as well as buyer’s agents when they price their homes.

If you carefully weigh all the real estate agent benefits against the disadvantages, hiring a real estate agent would prove to be a better choice in most cases. The key to successful deal however lies in picking the right real estate agent, depending on whether you plan to buy or sell a property.

Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

Leave a comment InBuying Property Real Estate
ApnaComplex
October 20, 2013

How To Increase Property Value Of Your House

Who says you have to break the bank and completely renovate your house to get the most value while selling or renting it out? A few fixes and a couple of minor changes can greatly increase property value of your house.

Here Are A Few Ways To Increase Property Value Of Your House

Clear Away Clutter

De-clutter your home to allow your buyers or tenants to feel free as they walk around your house visualizing their things in the rooms. Give away or dispose your old clothes, books, papers, appliances, toys, art and other unwanted items. Pack the rest in boxes and store them in the attic.

A Fresh Coat Of Paint

The best thing you could do to add value to your house is to give it a fresh coat of paint. Select light neutral colors, and stay away from dark shades as they make the rooms look smaller. Do not forget to paint the exterior too as your buyers or tenants will be seeing the outside first. After painting, leave your walls bare by not re-hanging too many of your old photo frames or art pieces.

Spic And Span Floors

Clean your floors until they shine. Replace old and worn out carpets and rugs. Buff and polish hardwoods. Do not replace flooring as the buyer might most probably have different tastes. For damaged vinyl floors put down some vinyl stick-on squares in light colors to make them less distracting.

Tidy Up The Curb

Cleaning up your curb is a sure way to attract more buyers or tenants. Replace your old mailbox, put up new street, clean the windows, and get the front door polished. Trim any shrubs that are unruly, mow your lawn, and remove unwanted objects from your yard such as tools or construction materials. You could add a pot of flowers by the front door or plants flowering plants along the walk. Don’t forget to wash your driveway and the walk.

Cabinets And Closets

Your prospective buyers/tenants are very likely to inspect all the cabinets and closets. Make sure the doors are well oiled and function smoothly. Paint or polish your cabinet doors. Use white or other light neutral colors. Do not forget to replace or polish the hardware too. Use simple and relatively modern hardware like brushed nickel.

Install New Lighting

Replace any damaged or old fashioned lighting fixtures. Go for energy efficient lighting throughout the house, and increase the wattage in dark rooms.  You want your buyers or tenants to see your house more clearly. A well lit room shows that you are transparent in your dealings as you have nothing to hide about the house.

Energy Efficient House

Upgrade your appliances to newer energy-efficient ones. Go green by installing a solar water heater if you have unobstructed sunlight throughout the year. For electric heaters, switch to tankless water heaters as there are more eco-friendly and cost-effective. Replace all outdated, loud, or broken ceiling fans as they can be an eyesore.

A small investment in changes such as these can make your house more appealing to prospective buyers, and bring in more revenue to you as well.

Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

Leave a comment InReal Estate Renting Property
ApnaComplex
October 19, 2013

Hidden Costs Of Buying A House: A Buyer’s Guide

Besides the basic property value advertised by the developer or sellers, buyers invariably end up having to shell out more to meet all the hidden costs of buying a house. Knowing about these expenses can help you prepare a feasible budget when planning to buy a property.

Identifying The Hidden Costs Of Buying A House

Preferential Location Charges (PLC)

Developers usually levy preferential location charges if you are looking for a house with particular preferences such as a particular view, on a particular floor, or in the corner. These charges can range anywhere between Rs. 10 to Rs. 100 per sq. ft., depending on the number of preferences.

Maintenance Deposits

Staying in an apartment or a society involves paying a maintenance fee that covers the salaries of security guards and sweepers, expenses for periodic repairs, and various club fees. Of late, most developers insist on upfront payment for a minimum of 10 years, or for lifetime. Maintenance deposits may vary depending on the amenities provided, but on an average it comes up to 5% of the basic sale price.

Mortgage Costs

If you plan on availing a loan for the purchase, you will incur additional expenses such as processing fee towards the loan, documentation charges, and administrative fee. Mortgage costs vary from 0.35% to 2% of the loan amount, depending on the lending institution.

Registration Costs

Stamp duty comes up to about 5 % to 7 %, while registration fees will cost you another 1 % to 2 % of the basic property value. The legal counsel’s fee will come up to another 1%. Hidden costs of buying a house, such as these, can easily add up to another 7 % to 10% of the property value.

Interiors Cost

Most buyers would want to make a few changes to the interior of their new homes before moving in. Interior costs greatly vary depending on the taste of the buyers. However, an average of 1 % – 2 % of the basic property value should be kept aside for such costs.

Extra Costs Due To Delays

Delay in project completion invariably results in price escalation, and extra interest in cases of loans. Delay also means you have to continue paying rent for the place you currently stay in, and if the property is an investment, you lose rent. Further, tax deductions on home loans are applicable only after the construction of the property has been completed and it has been handed over.

Parking Space

Parking space charges may vary from Rs. 2 Lakhs to Rs. 5 Lakhs, depending on the locality, type of property, and number of parking spaces required.  However, in March 2012, the Supreme Court ruled that residential complex developers cannot charge extra for parking space. Unfortunately, most developers subtly include the parking space charges in the overall cost of the property.

Besides the above discussed costs, you might incur further expenses like unpaid civic authority dues, or face indefinite delays due to unapproved plans.

It is always advisable to plan your budget with these expenses in mind, and allocate an additional 20 % to 25 % of the property value to cover all the hidden costs of buying a house.

Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!

Leave a comment InBuying Property Real Estate