L&T Sector 86 total cost: what you pay on top of the price

At ₹4.75 Cr and up, small percentages are big numbers. A 5% charge on a ₹5 Cr home is ₹25 lakh, which is more than many people pay for a car. So the all-in cost is worth working out properly before you fall for a floor plan.

The two big extras: GST and stamp duty

Two charges make up most of the gap between the price list and what you actually pay.

• GST: an under-construction home in this price range carries GST at 5% of the price. It is paid with each instalment, as you pay the developer.
• Stamp duty: in Haryana urban areas, this is 7% if the home is in a man's name, 5% in a woman's name and 6% for joint owners. It is paid when the home is registered in your name, usually near possession.
• Registration fee: a smaller fixed fee is paid when the sale deed is registered.

Stamp duty is worked out on the value of the home, not on the GST. And buying in a woman's name, alone or jointly, is one of the simplest legal savings available.

The numbers for each Phase 1 home

Here is how GST and stamp duty at 7% add up for the four Phase 1 homes, using the starting prices from the L&T Sector 86 price list. These are rounded estimates before the other charges below.

• 3 BHK Majesta, about ₹4.75 Cr: GST about ₹23.75 lakh, stamp duty about ₹33.25 lakh, roughly ₹5.32 Cr in all
• 3 BHK Luxuria, about ₹5.50 Cr: GST about ₹27.5 lakh, stamp duty about ₹38.5 lakh, roughly ₹6.16 Cr in all
• 4 BHK Majesta, about ₹7 Cr: GST about ₹35 lakh, stamp duty about ₹49 lakh, roughly ₹7.84 Cr in all
• 4 BHK Luxuria, about ₹8 Cr: GST about ₹40 lakh, stamp duty about ₹56 lakh, roughly ₹8.96 Cr in all

Registered in a woman's name, stamp duty falls to 5%, which saves about ₹9.5 lakh on the 3 BHK Majesta and about ₹16 lakh on the 4 BHK Luxuria.

The smaller charges to ask about

L&T Realty has not published these for Phase 1 yet, so ask for each one on the cost sheet. Several are worked out on the size of the home, so they grow with the plan you choose.

• Preferential location charges (PLC) for a higher floor, a corner or a better view of the central greens
• Car parking, and whether one or two spaces are included
• Club membership
• Interest-free maintenance security and advance maintenance, often for a year or two
• Electricity and water connection charges

TDS: not an extra, but you must handle it

When you buy a property worth more than ₹50 lakh, you have to deduct 1% of each payment as TDS and deposit it with the income tax department. It is part of the price, not on top of it, but the paperwork is yours. On a ₹4.75 Cr home that is ₹4.75 lakh across the instalments. Keep every TDS certificate, because the developer will ask for them.

The payment plan

For now, Phase 1 opens with an EOI of ₹10 lakh along with your KYC. The full payment plan has not been published. When it is, it will usually be one of these.

• Construction-linked: you pay in stages as the tower goes up, which keeps your money tied to real progress.
• Down payment: a large share upfront, sometimes in return for a discount.
• Time-linked: fixed dates, whatever stage construction has reached.

A construction-linked plan is usually the safest for a buyer. Once the project is registered under RERA, the developer cannot take more than 10% of the price before a registered agreement for sale, so the big payments should only start after that.

Planning the home loan

Banks can lend up to 75% of the value of a home when the loan is above ₹75 lakh, which covers every home in Phase 1. Stamp duty, registration and most other charges usually have to come from your own funds. So on a ₹4.75 Cr home, plan for your own contribution to be well over ₹1.5 Cr once the extras are in. The L&T Sector 86 EMI calculator on the project page shows the monthly side.

Questions to ask before you pay more than the EOI

• Can I have a full cost sheet with every charge, for the exact home and floor I want?
• Is the price per sq.ft on carpet area or super area?
• Which charges are fixed, and which can change before possession?
• Is the payment plan construction-linked, and what are the stages?
• Is the EOI adjusted against the first instalment, and how is it refunded if I do not go ahead?

Our honest take

Budget about 12% over the list price for GST and stamp duty alone, and a little more for the rest. If that still sits comfortably, the starting price is a fair guide. If it does not, look at the smaller home in each size before you stretch. Our Majesta or Luxuria guide compares the four homes side by side, and the L&T Sector 86 RERA status page explains why the big payments should wait for registration.