Hidden Costs of Buying a Resale Flat in Chembur (and How to Budget for Them)

₹1.2 crore for a 2-BHK near Chembur station sounds like a steal—until the final settlement sheet lands on your dining table. Over the last 12 months, 67% of resale buyers in Chembur told us their final outgo was 8–11% higher than the agreed-upon price. The gap is rarely fraudulent; it is simply a long list of hyper-local costs that brokers rarely flag. Below is the line-by-line breakdown we provide to our clients, updated with May 2024 society circulars and BMC fee schedules.

Transfer Premium (a.k.a. “Society NOC Fee”)

Every co-operative housing society in Chembur is allowed to charge a transfer fee under its bylaws. The range is eye-watering:

Diamond Garden CHS: ₹750 per sq ft (highest in the suburb).
Vasant Vihar Colony: ₹250 per sq ft.
RCF staff quarters: ₹0 if the seller is still an employee.

On a 750 sq ft flat, the price swings between ₹0 and ₹5.6 lakh. Negotiation tip: Insert a clause that the seller bears the premium—works 70 % of the time in Chembur East.

Outstanding Maintenance & Lift Corpus

Older buildings (pre-2010) often run a negative cash flow because of lift replacement or fire-NOC work. Typical hits:

6-person Johnson lift: ₹9–11 lakh split per member.
Fire-hydrant upgrade: ₹1.2–1.8 lakh per flat.

Before token money, ask for the latest audited balance sheet. We colour-code societies: green (<₹2 lakh backlog), amber (₹2–5 lakh), red (>₹5 lakh).

BMC Occupancy Certificate (OC) Penalty

Buildings constructed between 1990-2005 sometimes have minor deviations—an extra toilet projection or staircase width short by 50 mm. BMC now demands regularisation charges before issuing a fresh OC. Average ticket size: ₹5–15 lakh per society, pro-rated by flat area. If the society is already in court, budget 1 % extra on the flat cost for lawyers.

Parking Re-allotment

Covered stilt parking trades at ₹4–6 lakh in the open market. If the seller has a second slot, societies usually let you inherit at a nominal transfer fee of ₹25,000–50,000—but the waiting list can be 18 months. Factor a rental parking cost of ₹3,000/month until your turn arrives.

Loan-Linked Charges (Often Missed)

MODT (Memorandum of Deposit of Title Deeds): 0.2 % of loan amount.
Property insurance: ₹8,000–15,000 one-time.
CERSAI fee: ₹50 + GST (every bank now insists).

Local Authority NOC Fees

If the building abuts a nullah (common near Mahul Road), you need a Coastal Regulation Zone (CRZ) clearance ₹12,000 fee plus consultant charges.
If the building has a terrace cell tower, the TERM Cell permission transfer fee is ₹5,000.

Real-Life Example
Last month, a buyer agreed to ₹1.18 Cr for a 2-BHK in Swastik Park (1998 building). Final bill:
Agreed price: ₹1.18 Cr
Transfer premium: ₹3.75 lakh
Lift corpus arrears: ₹1.8 lakh
OC penalty: ₹1.1 lakh
Parking: ₹4.5 lakh (second slot)
MODT + misc: ₹45 k
Total out-go: ₹1.29 Cr (9.5 % surprise)

Closing Advice

Ask for the last three AGM minutes—they reveal every planned expense. Add 10 % contingency to your purchase budget for Chembur resale deals older than 15 years. The flat with the “wow” living-room view becomes a lot less attractive if the elevator is stuck on the ground floor and the repair bill has your name on it.