Hidden costs of buying property in Mumbai: the full checklist
By Ambish Singh, Founder · Facts checked October 2026
In shortThe agreement price is usually 85 to 90 percent of what you actually spend. On top come GST (for under-construction flats), stamp duty and registration, legal and loan charges, parking, society and maintenance deposits, and interiors. Ask for a full cost sheet before you pay a token amount.
Taxes and government charges
- GST: under-construction residential flats attract GST at a reduced rate, with a lower rate for the affordable category; a flat that already has its completion or occupancy certificate attracts none. Confirm the current rate when you book.
- Stamp duty: a percentage of the agreement value (or the ready-reckoner value if higher), paid before registration. The rate depends on the location and the buyer, and may include a metro or local-body cess. Check the Maharashtra registration department's current rates.
- Registration fee: a smaller percentage of the value, subject to a cap.
- TDS: if the seller is a resident and the price is above the threshold in the Income Tax Act, the buyer deducts 1 percent TDS and deposits it with the tax department. This is deducted from the payment, not extra, but it needs paperwork.
Charges the developer or society adds
- Floor rise, view or preferential location charges.
- Car parking, which can be a separate line of several lakh rupees in the island city and western suburbs.
- Club house, amenities and infrastructure charges.
- Advance maintenance for a fixed period and a society corpus or sinking fund, usually paid at possession.
- Share certificate and society formation or legal charges.
Professional and financing costs
- Property lawyer for title and agreement review.
- Loan processing fee, legal and valuation charges from the bank, and any prepayment or conversion charges.
- Home loan insurance if you take it.
- Commission on resale or rental transactions, as per market standards. On new launches, ask whether any commission is added to your price.
After you get the keys
- Interiors and furniture, often 5 to 10 percent of the property value for a basic fit-out.
- Electricity, gas and water connections, and the cost of moving.
- Monthly maintenance, property tax and the loan EMI together, which should still sit within your comfort level.
Frequently asked questions
How much extra should I budget over the property price in Mumbai?
A sensible working number is 10 to 15 percent above the agreement price, covering GST where applicable, stamp duty, registration, deposits, legal charges and basic set-up. The exact figure depends on the project and your loan.
Do I pay GST on a ready-to-move flat?
No GST is charged on a flat sold after the completion or occupancy certificate is issued. GST applies to under-construction sales, at a rate that depends on the category of the project.
Is stamp duty paid on the agreement price or the ready reckoner rate?
Stamp duty is calculated on the higher of the agreement value and the government's ready-reckoner value for the area. Your lawyer or the registration department can confirm the figure for your flat.
Official sources
Check these yourself. They are the regulators' own sites, not ours.
- MahaRERA (Maharashtra Real Estate Regulatory Authority)Look up a project's registration and its promoter before you pay anything.
Want a second opinion on your shortlist?
Message Ambish with your budget and area. You get a short list with prices, payment plans and possession dates side by side. No pressure to book.
Keep reading
This page is general information, not legal, tax or financial advice. Rates, thresholds and rules change, so confirm them with the relevant authority or a qualified professional before you decide.