Preferential Location Charges in Real Estate
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Frequently Asked Questions
How much is GST on preferred location charges?
Ans: Until March 31, 2019, GST was 12% (excluding 1/3rd of land value) for residential property and 8% for select schemes. Starting April 1, 2019, to boost real estate, GST was lowered to 5% (excluding 1/3rd of land value) for residential apartments.
What are FRC charges?
Ans: FRC, or Floor Rise Charges, pertain to additional fees that a property owner may charge for a flat/apartment located on one of the upper levels within a multi-story building.
What is floor PLC in real estate?
Ans: PLC refers to Preferential Location Charges in real estate pricing.
Can you buy a property without paying a preferential location charge?
Ans: Yes, properties can be purchased without paying preferential location charges (PLC).
Is there scope for bargaining on preferential location charges?
Ans: Yes, negotiating PLCs with developers is often possible during property purchases.
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