The Real Costs Nobody Tells you About When Buying a 3BHK Apartment in Visakhapatnam

Purchasing a home is a significant event, and when it comes to 3BHK apartments in Visakhapatnam, it is even more so. The current generation of families is in search of homes that provide space, amenities, and value for money. With the development of infrastructure and lifestyle in Vizag, the demand for quality property for sale in Vizag is increasing.

At GCON, we recognize that when you buy a home, it’s not just about the apartment you purchase—it’s about making an informed investment. Although the price tag is the most important thing to consider, there are hidden costs associated with purchasing a home that could impact your budget if you’re not aware of them.

The Price you See isn’t the Full Price

The price quoted per square foot or unit is only a part of the overall investment. In high-rise apartments in Vizag, additional costs can add up during the stages of purchase and ownership. At GCON, we value transparency and assist buyers in planning for all costs right from the start.

Recognizing these costs early on will enable you to plan your finances accordingly and steer clear of any last-minute surprises.

1. Stamp Duty and Registration Charges

One of the most underestimated components of the total cost of ownership is stamp duty and registration charges. In Andhra Pradesh, buyers must pay:

• 6.5% stamp duty on the property value

• 1% registration fee

Together, these charges amount to 7.5% of the property’s market value. These are compulsory and cannot be financed under home loans.

For first-time buyers of 3BHK apartments at Visakhapatnam, overlooking such expenses can prove stressful. At GCON, we walk the buyer through the entire procedure for registration to make it a smooth experience for them.

2. GST on Under-Construction Apartments

If you’re purchasing an under-construction property, GST is applicable:

• 1% GST for affordable housing (properties priced up to ₹45 lakh)

• 5% GST for non-affordable housing  (properties priced above ₹45 lakh)

3. Maintenance Deposit and Corpus Fund

Most of the builders take a maintenance deposit or corpus fund during the possession of the property. The corpus fund is used to ensure smooth maintenance of common areas such as lifts, security systems, water management, and landscaping.

For high-end projects, this long-term deposit (covering 1–2 years of maintenance) is usually calculated on a per square foot (sft) basis, typically ranging between ₹1–₹3 per sft depending on the type of project and the amenities provided. At GCON, we give buyers a clear sft-based breakdown of maintenance costs at the time of purchase, ensuring transparency and helping families plan their budgets without surprises.

4. Parking Charges

Parking is usually assumed to be included, but many Vizag apartment for sale listings charge extra for covered or additional parking spaces. In high-rise apartments in Vizag, space is limited, and thus it is necessary to clarify these charges. GCON ensures that parking information is clear from the beginning so that there are no surprises at the time of possession.

5. Interior and Fit-Out Expenses

Even after acquiring possession, most houses will still need interior work. Such expenses may consist of:

• Installation of modular kitchens

• Wardrobes and storage units

• Lighting, fans, and fittings

• Curtains and other customizations

Interior designs may cost upto 20 to 50 lakhs for 3BHK flats in Visakhapatnam. GCON usually assists customers in understanding design-ready options to help them plan accordingly.

6. Floor Rise and View Charges

In high-rise apartments in Vizag, the higher floors or apartments with better views, like sea-facing or park-facing apartments, may have additional costs. GCON also communicates any floor rise or view premium clearly to the buyer upfront so that they know what they are paying for.

7. Legal, Loan, and Documentation Costs

Even while purchasing from trusted builders, legal confirmation is necessary. Other expenses may be

• Property document verification

• Sale agreement drafting

• Bank loan processing and technical evaluation fees

At GCON, our team is committed to ensuring that all buyers have access to expert advice and transparent documentation, thereby reducing risks and delays.

8. Utility Connections and Setup Charges

Connections for electricity, water, and gas are necessary but are usually charged separately. The buyers may have to pay for:

• Electricity meter installation

• Water connection fees

• Power backup allocation 

GCON works in collaboration with the authorities and construction companies to ensure that estimates regarding utility bills are accurate, thereby enabling the buyer to plan accordingly.

9. Clubhouse and Amenities Usage

Many gated communities in Visakhapatnam come with luxurious amenities such as gyms, swimming pools, and clubhouses. The cost in some projects includes:

• One-time activation fees

• Annual or usage-based maintenance

At GCON, amenity usage fees and schedules are shared upfront, giving buyers clarity on lifestyle costs.

Why Planning for Hidden Costs Matters

The real estate sector in Visakhapatnam is growing, and the demand for good 3BHK apartments in Visakhapatnam is high. Knowing the hidden costs is an assurance for buyers because:

• Make informed financial decisions

• Avoid surprises in possession

• Relish a hassle-free move-in experience

Whether it is an investment in a Vizag apartment for sale or an upgrade to a larger home, planning helps ensure peace of mind.

Conclusion

Purchasing a home is more than selecting a floor plan or spot; it’s about being ready. By being aware of the true costs, you can comfortably invest in the suitable property for sale in Vizag.At GCON, our mission is to create not only homes but also a seamless buying experience. At GCON, we are committed to ensuring that your dream of owning 3BHK apartments in Visakhapatnam becomes a reality – with no surprises in between.