The basic sales price or BSP is the amount that comes under other payables for any house or dwelling unit. This includes the sale price, charges for parking spaces and other extraneous charges covering things like fire safety, electrification, and so on. It does not cover charges like maintenance, PLC, taxes, stamp duty, documentation costs and other heads.
The basic sales price or BSP is the base cost of a property (per square foot). This is the price for which any property is listed by the seller for sale to prospective buyers. It mostly does not cover added costs for floor rise, amenities, preferential locations, maintenance, and so on.
The per sq. ft. cost of any property is the basic sales price and this is the listing price as well, in a manner of speaking. The price does not include additional costs as mentioned, including parking, floor rise, maintenance, amenities, etc. If the basic sales price for an apartment is Rs. 3,000 per sq. ft, then it means that this 1,000 sq. ft. unit will be sold for the basic sales price of Rs. 30,00,000. This is the BSP. Now you can add other additional costs to this figure. This could be 15-20% more, depending on the project, location, and other aspects. The BSP is a vital aspect of the real estate industry.
