Accommodation in Mumbai

Buy house or flat in Mumbai

Home > Expat Guides > Asia > India > Mumbai

Mumbai is one of the 10 most costliest cities in the world for real estate. And prices are constantly increasing.

There are a number of rules concerning who can buy property in India. In general, if you're not of Indian origin and if you don't reside in India for at least 183 days in a financial year, you are not entitled to buy property in India. If you still qualify, there are a number of agencies that can help you out with the purchase. Below are some to get you started.

Estate agents

There are numerous estate agencies or specialised websites in Mumbai. You can try the following:

Solicitor fees

To purchase property, it is important for the buyer to hire a real estate attorney to protect his interests during the transaction. Once the property has been chosen and a price has been negotiated with the seller, the attorney draws up an Agreement of Sale. Upon signing, the buyer normally pays a deposit of 10% to 20% of the purchase price. The lawyer is then required to obtain all the necessary title documents from the seller. Make sure that the property has a clear title deed to avoid any legal problems in the future.

The conveyance documents must be stamped at the Stamp Duty Office before signing. After this, the remaining balance is settled, and the deed is registered at the Sub-Registrar. There is a 10% stamp duty fee and 1% registration fee for properties bought in Mumbai. The entire process of registering property requires six procedures which can be completed in around 67 days. For more information on how to buy property in India, please click here.


Annual taxes have to be paid by the owners to the municipal authority. There is a common misconception where people relate property tax to assessment tax. But these are actually two different forms of taxation.

Property Tax relies upon the fair market value of the property being taxed for justification.

Assessment Tax relies upon a special enhancement called a 'benefit' for its justification.

Most municipal authorities have switched to the unit area method of calculating taxes. This allows the consumer to compute property taxes themselves and make payments on time.Click on the links below for more details on property taxes for home owners in Mumbai.

Update 24/10/2008


Facebook Twitter LinkedIn Pinterest Addthis

Recommended Service Partners

International Movers
International Movers in Mumbai
Compare up to 5 quotes from our network of moving companies that can help you plan your international move and relocate your entire family.
Expatriate health insurance
Expatriate health insurance in India
Apply online for free quotes on repatriation assistance and expatriate and foreign health insurance.
Hotels in India
You will get discount hotel rates, last-minute deals, hot deals, special offers, with a real-time reservation and on-line booking.


 Ali Khan


More information for Buy House and Flat
People tend to get confused when it comes to buy house and flat this is an amazing article to clear the confusion:

Do you have comments or personal information to communicate about this article? Add your comment.

Go to the Forum to talk more about buy house or flat in Mumbai, accommodation.

Find more definitions and general answers on expatriation issues in the Expat FAQ (Frequently Asked Questions).