How to buy house in Mumbai?

As you want to know how to buy a home in Mumbai: the Bollywood city, I must say it can be an overwhelming experience due to the many factors involved and the high property prices. Buying a property in Mumbai has become a popular investment option due to new infrastructure projects like the extension of the Metro Line and the construction of coastal roads. Additionally, market data from early 2025 shows that property values in Mumbai's real estate market have increased by 5 to 7%, particularly in well-connected regions.

How to Buy Own House in Mumbai?

The basic checklist that must be followed to buy a home in Mumbai are:

1. Verify RERA Registration: For transparency, review project information on the MahaRERA website.

2. Identify Costs: Include GST, registration fees, stamp duty (6%) for Mumbai city (can vary for women buyers or first-time buyers under government schemes), and ongoing maintenance.

3. Analyse prior projects, approvals, and land ownership documentation to assess the builder's reputation.

4. Plan Finances: Evaluate loan eligibility, affordability of EMIs, and unstated fees such as parking (Rs. 2 to Rs. 3 Lakh for covered parking), society maintenance (Rs. 3 to Rs. 10 per sq. ft. per month).

5. Examine the property: Before making a decision, look over the facilities, safety features, and building quality.

Following this checklist can ensure a smooth buyer experience. 

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Hey,

I was scared and excited while buying my first house. It was an important milestone for me. I spoke to my relatives, property owners and construction companies to make a universal guide for buying property. After following it religiously, I was able to buy house in Mumbai.

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Think about the specifications and features(amount of floor area you need, neighbourhood, locality, amenities) you want in your house. It is pertinent to have a clear idea of your dream home to avoid unnecessary confusion while looking at properties. 

Fix a budget according to your income and end goal. Don’t think of buying a 20 crore flat if it will put you in debt. Plan and fix your budget, and conduct research on loans given your income, credit score, and outstanding debts. Opt for a loan/ scheme that gives you the lowest interest rate with the highest benefits.

Before paying any amount to the builder/ seller. Conduct background checks on the credibility of the developer. Read about the quality of materials used in their construction, whether the construction of previous projects was done according to the timeline, and whether they have received government approvals. 

Negotiate the price of the property with the seller. Developers offer cash discounts, and tangible gifts in kind to lure buyers. Keep an eye out for marketing gimmicks and negotiate about the per sq ft rate of the house. 

To avoid dealing with hourly property showings, sellers are now uploading their saleable property on real estate apps such as NoBroker. You can browse through the categories and pick a house you like. You can even check property information like the area, the number of floors, and the number of rooms on your phone. 

I hope you can buy house in Mumbai soon. Good luck!