PROPERTY - COSTING
For the costing of Land, the land rate shall be taken as applicable on the date of Allotment.
If the plot is situated on a road having 18 meter or more width, 10% of the cost shall be paybale as location charges.
If the plot is a corner plot (i.e. the plot is situated on road from two sides), 10% shall be payable as corner charges.
If the Plot is facing any park, 5% shall be additionally payable as park facing charges
In case for any plot, all the above charges are applicable, the maximum charges applicable shall be 20%.
Transfer of Property Charges
In case, on demand of applicant, the property is changed, 15% of total value of transferred property shall be charged as transfer fee.
Cost of Additional Land
In case, the are of the plot is more than the standard/ allotted area, the cost of extra land shall be calculated with the land rate at the time of allotment for the area upto 10% increase, and for balance increased area, land rate shall be the current prevailing rates.
Costing For Houses
Generally the cost mentioned on the allotment letter is the estimated price of the House. The actual cost of the House is calculated when the actual expenditure of construction, duration of work and interest rate are received from the engineering section. The cost is calculated on the basis of actual cost of construction, interest for half of the duration, Consultancy, overhead charges and the cost of land.
The mutation charges shall be calculated @ 1% of the current market price of the property.
Costing for Multistory Property
The costing of the multistory buildings are done similar to the houses as far as the construction is concerned. For calculation of the land cost following methodology is adopted