Hi everybody,

I have recently booked an apartment and the details are as mentioned below.

Area: about 1700 sqft

Rate per sqft: 3350

Basic cost: 57,21,800

Car parking: 250000

Total consideration: 59,71,800

This has been broken into two parts:

Land value: 26,47,400 and

Construction value: 33,24,400.

Further the construction value has been broken down to:

Material: 70% OF CV, 2327080

Labour: 40% of CV, 13,29,760 (Shouldn’t material + labour = 100% of CV?????)

Further, VAT of 14.5% is charged on material ie 70% of CV and Service tax of 12.36% is charged on labour ie 40% of CV.

I wanted to know if the VAT and Service tax component were on the higher side or is this what the builder is supposed to charge.???

Also shouldn’t Material and Labour value be equal to Construction value??

Any help on this would be deeply appreciated.

Thanks