Cost Sheet at Hiranandani Fortune City Panvel
When you buy a home, the listed price is just one part of the total cost. Stamp duty, registration, GST, and other charges add up quickly. At Hiranandani Fortune City Panvel, understanding the complete cost sheet helps you plan your finances without surprises.
This page breaks down the price structure, additional charges, and payment considerations for the township. Whether you are looking at a 2 BHK or a 4 BHK, knowing the full picture helps you budget better.
Price Range by Configuration
Prices at Hiranandani Fortune City Panvel vary based on the unit type, floor, and tower. Here is a quick overview:
| Configuration | Carpet Area (approx.) | Starting Price |
|---|---|---|
| 2 BHK | 723 - 785 sq. ft. | ₹1.31 Cr* onwards |
| 3 BHK | 970 - 1,633 sq. ft. | ₹1.78 Cr* onwards |
| 4 BHK | 1,633 - 1,896 sq. ft. | ₹3.1 Cr* onwards |
These are indicative prices for the newer phases like The Arena. The township has multiple phases, and pricing can vary across towers. The overall township starts from ₹1.17 crore onwards.
Breakup of All-Inclusive Price
When the developer quotes an "all-inclusive price," here is what it typically covers and what it does not:
| Component | Usually Included? |
|---|---|
| Basic Apartment Cost | Yes |
| Floor Rise Charges | Sometimes (depends on tower) |
| Preferential Location Charges (PLC) | Sometimes |
| Car Parking | Usually extra |
| Clubhouse Charges | Usually extra |
| Stamp Duty & Registration | No |
| GST | No (for under-construction units) |
| Maintenance Deposit | No |
| Legal & Documentation | No |
Always ask for a written cost sheet that clearly states what is included in the quoted price and what will be charged separately. This avoids confusion later.
Statutory Charges: Stamp Duty and Registration
These are government charges and cannot be negotiated. For a property in Navi Mumbai, here is what you pay:
| Charge | Male Buyer | Female Buyer |
|---|---|---|
| Stamp Duty | 5% + 1% Metro Cess = 6% | 4% + 1% Metro Cess = 5% |
| Registration | 1% (capped at ₹30,000) | 1% (capped at ₹30,000) |
For a property worth ₹1.5 crore, a male buyer pays around ₹9 lakh in stamp duty plus ₹30,000 for registration. A female buyer pays around ₹7.5 lakh plus ₹30,000.
Note: These rates are for Mumbai and Navi Mumbai. If the property is jointly owned with a female as the primary holder, you may get the concessional rate.
GST on Under-Construction Units
GST applies only to under-construction properties. If a tower has received its Occupancy Certificate (OC), no GST is charged.
For under-construction units priced above ₹45 lakh, the GST rate is 5% on the taxable value. The taxable value is calculated after deducting one-third of the agreement value towards land. So effectively, you pay GST on about 66% of the total price.
| Example | Amount |
|---|---|
| Agreement Value | ₹1,50,00,000 |
| Less: 1/3 Land Deduction | ₹50,00,000 |
| Taxable Value | ₹1,00,00,000 |
| GST @ 5% | ₹5,00,000 |
Some towers at Hiranandani Fortune City have received OC. For those units, the GST component drops to zero, though the price may be slightly higher.
TDS on Property Purchase
If the property value is ₹50 lakh or more, you must deduct 1% TDS from the payment to the seller and deposit it with the government. This applies to Hiranandani Fortune City units since prices are well above the threshold.
Here is what you need to know:
- Rate: 1% of the sale consideration or stamp duty value, whichever is higher.
- Threshold: ₹50 lakh or more.
- What counts as consideration: This includes the base price, car parking fee, club membership, and other charges incidental to the transfer.
- How to deposit: Using Form 26QB within 30 days from the end of the month in which TDS was deducted.
- Certificate: You must issue Form 16B to the seller as proof of TDS deduction.
TDS is not an additional cost. It is part of the payment to the seller, just routed through the tax department.
One-Time Charges to Budget For
Beyond the apartment price and statutory charges, there are several one-time payments you should plan for:
- Maintenance Deposit: Usually collected in advance to cover common area upkeep for the first few years.
- Clubhouse Membership: One-time fee for access to township amenities like the pool, gym, and sports facilities.
- Parking Charges: If not bundled in the base price, expect to pay separately for covered or open parking.
- Society Formation Charges: Fees for registering the co-operative society or condominium association.
- Legal and Documentation: Charges for agreement drafting, notarization, and registration assistance.
- Electricity and Water Connection: One-time deposits with the utility providers.
These charges can add another 3% to 5% to your overall cost. Ask for a complete list before you book.
Sample Cost Sheet for a ₹1.5 Crore Unit
Here is an illustrative cost sheet to give you a rough idea. Actual amounts will vary based on the specific unit and tower.
| Component | Amount (approx.) |
|---|---|
| Basic Apartment Price | ₹1,50,00,000 |
| Stamp Duty (6% for male) | ₹9,00,000 |
| Registration (capped) | ₹30,000 |
| GST @ 5% (if under construction) | ₹5,00,000 |
| Maintenance Deposit (approx.) | ₹1,50,000 |
| Clubhouse Charges (approx.) | ₹75,000 |
| Parking (if extra) | ₹3,00,000 |
| Legal & Documentation | ₹25,000 |
| Total Estimated Cost | ₹1,69,80,000 |
In this example, the additional costs add nearly ₹20 lakh to the base price. That is about 13% on top. Planning for this from the start helps you avoid last-minute funding gaps.
Tips to Manage Your Budget
- Get the full cost sheet first: Ask for a written breakup of every charge before paying the booking amount.
- Factor in the 10-12% extra: As a rule of thumb, budget 10% to 12% above the quoted price for statutory and one-time charges.
- Check if OC is received: If the tower has OC, you save on GST. This can be a significant amount.
- Confirm parking and clubhouse inclusion: Some builders bundle these; others charge separately. Know which applies to your unit.
- Plan TDS: If paying in installments, ensure TDS is deducted and deposited on time to avoid penalties.
- Keep liquid funds ready: Stamp duty and registration must be paid from your own funds, as home loans typically do not cover them.
Get in Touch
For a personalized cost sheet based on your chosen configuration and tower, download the brochure or contact the sales team. They can provide an exact breakup of all charges for your specific unit.