BSP stands for Basic Sales Price. The prices of properties are highly volatile and sensitive, and it depends on various factors such as supply, inflation, demand, infrastructural development, and others. The main concept of BSP is based on selling price, profit and loss, and cost price. The property seller determines the BSP based on prevalent and cost prices. The BSP usually remains the same within the same locality, but it can differ by the housing society, quality of construction, and amenities offered, among other intangible and tangible factors. In this context, it must be mentioned that every property comes with two components: the basic sale price and the all-inclusive cost. The Basic Sale price is the base cost per sq ft of the property.
Thus, it can be said that the Basic Sales Price is an important element when determining a property's value. The property developers, as well as the property purchasers, need to have profound knowledge before purchasing a property
