Flats set to cost at least Rs 15,000 more

Apr 05, 2012 - S. Sasidharan |

chennai

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Planning to buy a house? Prepare to pay an additional Rs15,000-Rs 30,000. The state government has increased the infrastructure and basic amenities charge by 50 per cent, which builders may pass on to the end-user.

For multi-storey (above four floors or over 15.2 metres) residential buildings, the charge has been increased from Rs 250 to Rs 375 per sq. mtr. or Rs 12.50 per sq. ft. in Chennai Metropolitan Area (CMA), Chengalpattu, Coimbatore and other parts of the state, while for multi-storey commercial, IT or industrial buildings it has shot up from Rs 500 to Rs 750.

For a 750 sq. ft. flat the buyer will have to pay an additional Rs 15,000 to Rs 30,000 depending on the builder and built-up area.

“A builder who constructs a 1 lakh sq. ft. residential flat will have to pay an additional Rs 12.5 lakh towards infrastructure and amenities. Buyers will be burdened,” said T. Chittibabu, national secretary, CREDAI.

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