Question 1

How to buy a flat in Mumbai?

Accepted Answer

To buy a flat in Mumbai, start by defining your budget and preferred location. Check RERA registration of the project, verify the builder's track record, compare carpet area prices across micro-markets, arrange home loan pre-approval, conduct legal due diligence (title search, encumbrance certificate, OC/CC status), and engage a RERA-registered advisor for unbiased guidance. Kothari Properties offers a free consultation to help you navigate the process.

Question 2

What is the stamp duty in Mumbai in 2026?

Accepted Answer

Stamp duty in Mumbai for 2026 is 6% of the property value for men and 5% for women buyers. An additional 1% metro cess and registration charges of 1% (capped at ₹30,000) apply. Women buyers save 1% on stamp duty, making joint registration or women-first registration a common tax-saving strategy.

Question 3

What is the best area to buy a flat in Mumbai?

Accepted Answer

The best area depends on your budget and lifestyle priorities. Andheri and Goregaon offer strong connectivity and mid-range pricing. Bandra and Worli are premium with sea-facing options. Powai and Thane provide excellent value with modern infrastructure. Navi Mumbai (Kharghar, Panvel) benefits from upcoming airport and metro connectivity. South Mumbai remains the most prestigious but commands the highest per-sq-ft rates.

Question 4

Can NRI buy property in Mumbai?

Accepted Answer

Yes, NRIs and OCI cardholders can buy residential and commercial property in Mumbai under FEMA regulations. They can purchase using NRE/NRO accounts, avail NRI home loans from Indian banks, and must comply with FEMA repatriation rules. A Power of Attorney (POA) can be used if the NRI cannot be physically present for registration.

Question 5

What is carpet area vs built up area in Mumbai flats?

Accepted Answer

Carpet area is the actual usable floor area inside a flat — the area you can lay a carpet on. Built-up area includes carpet area plus wall thickness and balcony. Super built-up area adds your share of common areas (lobby, staircase, amenities). Under RERA, all Mumbai flats must be sold on carpet area basis. Typically, carpet area is 65-70% of super built-up area.

Question 6

What are the registration charges for property in Mumbai?

Accepted Answer

Registration charges in Mumbai are 1% of the property value, capped at ₹30,000. In addition, stamp duty (5-6%), GST on under-construction properties (5% without ITC for non-affordable, 1% for affordable housing), and legal fees apply. Use the Kothari Properties cost calculator for a complete breakdown.

Question 7

Is it a good time to invest in real estate in Mumbai?

Accepted Answer

Mumbai real estate continues to show strong demand driven by infrastructure projects (Metro expansion, coastal road, Navi Mumbai airport, Mumbai Trans Harbour Link), limited land availability, and steady migration. Emerging corridors like Thane, Panvel, and areas along new metro lines offer growth potential. However, investment timing depends on micro-market dynamics, project stage, and individual financial goals.

Question 8

What is RERA and why is it important when buying a flat in Mumbai?

Accepted Answer

RERA (Real Estate Regulatory Authority) protects home buyers by mandating project registration, ensuring timely delivery, requiring sale on carpet area basis, and providing a grievance redressal mechanism. Always verify a project's RERA registration on maharera.maharashtra.gov.in before booking. Kothari Properties only recommends RERA-registered projects.

Raymond Realty

Projects by Raymond Realty3

Ten X Habitat

Ten X Era

Address by GS

Strengths & things to consider

Strengths

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The People Behind Raymond Realty

Gautam Singhania

Harmohan Sahni

Key Facts & Figures

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