A "₹3.25 Cr onwards" headline is where the maths starts, not where it ends. In Mumbai, government charges alone add roughly 7–12% to the agreement value of a new home, before club, parking and society charges. Here's how it adds up.
The four government line items
| Charge | Rate (Mumbai, residential) | Notes |
|---|---|---|
| Stamp duty | 6% (5% + 1% metro cess) | Women buyers get a 1% concession (5%), subject to state conditions |
| Registration fee | 1%, capped at ₹30,000 | For almost every Exotica home you'll pay the cap |
| GST | 5% (no input credit) | Only on under-construction homes. Nil once the OC is received |
| TDS (Sec. 194-IA) | 1% of consideration | Applies above ₹50 L. You deduct it from payments to the developer; it isn't an extra cost |
Check before booking: rates and concessions are set by the state and central governments and do change. Confirm the current figures with your lawyer or the developer's accounts team before you sign.
Worked examples
Using indicative starting prices and a male or joint buyer (6% stamp duty):
| Home | Agreement value | Stamp duty | Reg. | GST | All-in (approx.) |
|---|---|---|---|---|---|
| Siena 1 BHK | ₹81 L | ₹4.86 L | ₹0.30 L | ₹4.05 L | ₹90.2 L |
| Verona 2 BHK (OC assumed) | ₹1.99 Cr | ₹11.94 L | ₹0.30 L | Nil | ₹2.11 Cr |
| Cyprus 2 BHK | ₹3.25 Cr | ₹19.50 L | ₹0.30 L | ₹16.25 L | ₹3.61 Cr |
| Cyprus 3 BHK | ₹3.99 Cr | ₹23.94 L | ₹0.30 L | ₹19.95 L | ₹4.43 Cr |
Change the numbers for your own case with our all-in cost & EMI calculator.
The charges that aren't on the brochure
Ask for these in writing, as a separate "other charges" sheet, before you commit:
- Car parking: sometimes bundled, sometimes separate.
- Club / amenity charges: check whether club membership is included or billed annually.
- Advance maintenance: often 12–24 months collected at possession.
- Society formation, legal and share-money charges.
- Utility connection charges (electricity meter, water, gas).
- Floor rise and view premium: usually already in the quoted rate, but ask.
Payment plans
Under-construction towers usually follow a construction-linked plan: a booking amount, a tranche on the agreement, then slabs tied to construction stages. The developer sometimes offers structured plans (for example, a larger share due at possession). Always compare plans on total outflow and timing, not just the booking amount.
Home loans
Market sources list the project as approved with major lenders including HDFC, SBI and ICICI. Cyprus's marketing notes that the project is financed by HDFC, so the developer gets a No Objection Certificate from the lender for each sale. That is normal, but make sure your agreement references it.
Our advice on negotiation
On new launches, the best room to negotiate is usually in payment structure, parking and "other charges", rather than the headline per-sq-ft rate. On resale, the headline price is fully negotiable. Either way, it helps to know what the last few transactions in the same tower closed at, which is where a local advisor earns their fee.