What is Basic Sale Price-BSP in Real Estate

What is Basic Sale Price-BSP in Real Estate, There are many questions that arises when you buy a property and as a homebuyer you should know about the most basic term BSP or basic sale price of a property.

Basic Sale Price or Basic Selling Price are same and all inclusive cost are the two main components of a housing project. When we talk about all inclusive it means that there are other several charges, such as preferential location charges, internal and external development charges (IDC and EDC), club membership charges and many others. But when calculating BSP it may or may not include floor rise and one-time maintenance charges.

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What is basic sale price?

The basic sale price of a housing property is the base cost per sq.ft of the property. It is also called as Basic Selling Price. The seller sets BSP accordingly and it does not include any additional charges for amenities, floor rise, preferential location, parking and other maintenance dues.

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Understand BSP with an Example

An advertisement stating that a 2 BHK flat for sale is available at Rs. 3000/sq.ft. That means a 1000 sq.ft of flat will cost around Rs 30 lakhs which is the BSP. But this won’t be the actual price because there are many other costs involved. And it can be the additional costs that can be up to 20% of the BSP.

Breakdown:

Type of cost------------------------Calculation-----------------------Cost

BSP-----------------------------Rs 3,000 x 1,000 sq ft---------------Rs 30 lakhs

PLC------------------------------------4% of BSP--------------------Rs 1.2 lakhs

External electrification charges------1,000 x Rs 50 per sq ft---------Rs 50,000

EDC and IDC-----------------------1,000 x Rs 100 per sq ft-----------Rs 1 lakh

Car parking space-------------------------Fixed----------------------Rs 2 lakhs

Power back-up-----------------------------Fixed----------------------Rs 30,000

Electricity connection, water connection, drainage, sewerage---Fixed---Rs 6,000

Stamp duty and registration charges--------6% of BSP--------------Rs 1.8 lakhs

Total cost-----------------------------------------------------------Rs 36.86 lakhs

So, it becomes important to know that what actually is the cost of your residential property. Though the BSP for the same property would be Rs 30 lakhs, you would need to pay Rs 36.86 lakhs for the property. As the amenities and facilities that the developer levied by the developer. The additional charges are almost 20% of the BSP.

Thus, BSP is just the basic price you are giving to own a living space. But including other charges it cost you way higher than the developer tells.

Therefore, before investing in real estate make sure you have clarity about everything.

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FAQs

What is the basic selling price?

The BSP is the cost of the constructed property which does not include any additional charges. 

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What are the hidden costs when buying a house?

Charges, which are not advertised, are the hidden costs such as maintenance charges, club membership, IDC and EDC, etc.

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How are flat prices calculated?

Developers generally quote the basic selling price on the super built-up area of the flat

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