Buying a house in Chennai is a wonderful investment, as apart from the growing infrastructure, it provides a promising resale value. However, the cost may differ depending on factors like location and amenities. My family and I have been living in Chennai for the past six years. We recently bought an independent house in Navallur at Rs. 80 Lakhs. So, if you ask me about the average house price in Chennai, I’d say it typically starts at Rs. 50 Lakhs.
What are the Costs Behind Buying a House in Chennai?
If you’re thinking about buying a house in Chennai, there are several costs you should consider. On an average, the cost of a house in Chennai ranges between Rs. 50 Lakhs to Rs. 40 Crores. It depends on your preferences, requirements, and the location you choose. Let me tell you what all costs you should keep in mind when purchasing a house.
Registration Charges: These charges depend on the size of the property and it usually takes around 7% to 10% of the property value. Besides, you also have to pay about 1% to 2% of the property value to the court.
Maintenance Deposit: Most of the projects demand for a maintenance deposit initially. This, again, differs from developer to developer.
Locality Charges: This cost is also not fixed and may vary from builder to builder. It is a cost that you have to pay for booking a house in a better location. For example, a penthouse with a lake view may ask for a higher locality charge.
Parking Space Costs: This cost typically varies from Rs. 2 lakhs to around Rs. 5 lakhs depending on the locality, the type of property and the type of parking space provided.
So, these are some costs you might want to consider when purchasing a house in Chennai.
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Authors Of The Question
How Much Does it Cost to Buy a House in Chennai?
Aman
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1 Answers
1 days
2025-01-06T10:36:41+00:00 2025-01-06T10:36:42+00:00Comment
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