Typical
Payment Schedule (for Under-Construction Properties)
Following is the typical schedule of payment asked
for by developers in
Goa for properties under
construction. This is only a representative sample and details may vary from
developer to developer and type of property.
Typical Schedule of
Payment:
- 40% - Down Payment
to sign ‘Agreement of Sale’. For completion of plinth and work up to 1st
slab level.
- 20% - For
completion of 1st slab, and advance for primary masonry and 2nd
slab work.
- 20% - On
completion of 2nd slab and masonry, and advance for plastering,
wiring, plumbing.
- 15% - On
completion of plastering, wiring, plumbing, and advance for tiling and
finishing.
- 5% -
On Final completion and signing of ‘Sale Deed’.
Stamp Duty & Registration Charges:
Government Stamp Duty and Registration Charges are
payable on all property transactions and these are borne by the Buyer. The
prevailing rate for Stamp Duty and Registration Fee for purchase of properties
below 40 Lakhs in
Goa is 4% of the property
value.
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Payment Schedule
