How to buy a flat in Mumbai: the step-by-step guide

1. Fix your real budget first

The price on the brochure is not what you pay. Add GST on an under-construction flat, stamp duty and registration, legal checks, parking, society and maintenance deposits, and interiors. Then work backwards from your loan eligibility and how much you can put down without touching your emergency fund.

Our guide to the hidden costs of buying property in Mumbai lists every line item so nothing surprises you at registration.

2. Decide the area by your daily life, not the hoarding

Mumbai is a set of very different micro-markets. Choose by the commute you will actually do, the railway or metro line, the school and hospital you will use, and how the neighbourhood feels at 8 pm on a weekday. Price per square foot only makes sense when compared inside the same micro-market.

• Island city and western suburbs: closer to the older business districts, higher prices, more resale stock.
• Central and harbour suburbs, Thane and Navi Mumbai: larger homes for the same budget, newer projects, longer commute to the island city.
• Beyond the suburbs (Mira Road, Vasai-Virar, Kalyan and further): the lowest entry prices and the longest commutes.

3. Check the project on MahaRERA before you fall in love with it

Any project above the RERA size threshold must be registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) before it is advertised or sold. The registration page shows the promoter, the approved layout, the declared completion date, the litigation disclosed, and the bank account where buyer money is held.

4. Visit the site and the sample flat, then the neighbourhood

A sample flat is staged. Look at the actual construction stage, the access road, the surroundings, and any neighbouring project. For resale, meet the society secretary and check pending dues and any redevelopment plan.

5. Compare in writing and negotiate

Ask for the cost sheet in writing: the base rate, floor rise, parking, club charges, GST, stamp duty and registration, and every other charge. Compare two or three projects on the same sheet. Negotiate on the whole package, not only the rate: payment plan, parking, and possession-linked terms matter as much.

6. Read the agreement for sale line by line

This is the legal contract. Have it read by a property lawyer who is working for you. It should state the carpet area, the price, the payment schedule, the possession date, the penalty for delay, and the specifications. Anything promised verbally must be in the document.

7. Pay stamp duty and register the agreement

In Maharashtra the agreement is registered with the Sub-Registrar after stamp duty is paid. The duty rate varies by location and buyer, and registration is a smaller percentage subject to a cap. Check the current rates on the Maharashtra registration department's website or with your lawyer, as these are revised from time to time.

8. Possession: occupancy certificate first, keys second

For a new flat, ask for the occupancy certificate before you accept possession and before you pay the final instalment. Walk through the flat with the specification list from your agreement, note defects in writing, and under RERA the promoter must fix structural defects reported within five years of possession.