Ajay has highlighted the three most important points on why resale flat is more expensive; however, there are more reasons that I would like to highlight. Resale flats cost more because they often have higher registration and stamp duty fees, adding to the overall expense. Plus, in developed areas, limited availability of properties means more demand, which naturally raises the price. Older buildings also have higher maintenance costs, making them pricier to own in the long run.

Why Resale Flat is More Expensive in India?
Resale flats often cost more due to several factors beyond just location, immediate occupancy, and renovations. Some of the reasons are:
Higher Registration Fees: Higher registration and stamp duty can make a big difference, as older properties tend to attract higher charges compared to under-construction ones.
Scarcity of Properties: The limited availability of properties in well-developed areas raises the demand for resale properties and raises property prices.
High Maintenance Cost: Another reason is higher maintenance costs. Older buildings usually have increased upkeep charges, making them pricier in the long run.
These are some other reasons why resale properties are expensive. You should compare the property prices in a locality first before investing in any property.
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Resale properties are not expensive, but in some situations, yes they can. So, if you are thinking why resale flat is more expensive, then I can help you with that. There are a few reasons behind a resale property being expensive and that is because of the location, immediate occupancy, upgraded features, etc. Let me help you understand why that could happen.
Reasons Behind Expensive Resale Properties
Here are some reasons resale properties can be expensive,
Location
Location is one reason the price of resale properties can be high. If the property is in a prime area that has lots of locational advantages, then it can be several times higher than a new property.
Immediate Occupancy
New apartments take time to be completed. Whereas resale properties offer you the chance to move in immediately. This is very beneficial for people who want a quick settlement, and sellers can leverage that to increase the price.
Potential Renovations
There is a huge possibility that the previous owners have renovated the flat. This could increase the value of the property compared to a new apartment.
These are reasons resale flats can be more expensive than new ones. I hope you find this helpful.
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Why Resale Flat is More Expensive?
Viman
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2024-12-15T21:48:14+00:00 2024-12-16T13:30:00+00:00Comment
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