5 Legal Tips for Secure Home Buying in Mumbai

1. Verify the Title and Ownership of the Property

Before signing any agreements, it’s important to confirm the property’s title and ownership. Ensure that the seller has a clear title to the property and that there are no legal disputes or encumbrances. This involves checking the title deed, which should clearly state the owner’s name and the extent of their ownership. Engaging a legal expert to conduct a thorough title search can prevent future complications and safeguard your investment.

2. Examine the Sale Agreement Thoroughly

The sale agreement is a crucial document in the home-buying process. It outlines the terms and conditions agreed upon by the buyer and the seller. This document should specify the purchase price, payment schedule, possession date, and any penalties for delayed payments or possession. Ensure that the agreement is clear and comprehensive, leaving no room for ambiguity. Consulting a real estate lawyer to review the sale agreement can provide you with a clear understanding of your rights and obligations.

3. Check for Necessary Approvals and Clearances

In Mumbai, properties require several approvals and clearances from various authorities. These include approvals from the local municipal corporation, environmental clearances, and permissions from the urban land ceiling authorities. Additionally, ensure that the property has a valid Occupancy Certificate (OC) and Completion Certificate (CC). An OC certifies that the building complies with the local laws and is fit for occupation, while a CC confirms that the construction is complete and adheres to the approved plan.

4. Review the project description and details on the RERA website

The Real Estate Regulatory Authority (RERA) was established to bring transparency and accountability to the real estate sector. Before purchasing a property, it is essential to review the project details on the RERA website. This platform provides comprehensive information about registered projects, including the project’s status, approvals, promoter details, and any legal proceedings. Checking this data ensures that the project complies with regulatory standards and provides insight into the developer’s credibility

5. Understand the Property’s Tax Liabilities

Before finalizing your purchase, it’s essential to understand the property’s tax liabilities. Ensure that all property taxes have been paid up to date. Outstanding taxes can become your liability once you become the owner. Request the seller to provide the latest property tax receipts and confirm with the local municipal authority. Additionally, familiarize yourself with the stamp duty and registration charges applicable to the property. These are significant costs that need to be factored into your budget.

and reliability. This step helps you make an informed decision and avoid potential pitfalls associated with unregistered or dubious projects.

Final Thoughts

Buying a home in Mumbai involves navigating a complex legal terrain, but with careful attention to these legal aspects, you can mitigate risks and secure your dream home. Engaging a qualified real estate lawyer can provide valuable guidance and ensure that your investment is protected. Remember, a little diligence today can save you from significant legal troubles tomorrow.

About SILA –

SILA adopts a tech-driven approach, utilizing Robotics and IoT, Automated Compliance Management, and our proprietary technology (SILA Connect) to efficiently manage properties across India. As pioneers in technology within the facility management sector, SILA stands out as one of the best Housekeeping services in Mumbai, India.

Buying a home in Mumbai, the city of dreams and towering skyscrapers, is a significant milestone for many. However, navigating the complex legal landscape of real estate in this bustling metropolis can be daunting. Here are five crucial legal tips to help you ensure a smooth and secure home-buying process in Mumbai.

1. Verify the Title and Ownership of the Property

2. Examine the Sale Agreement Thoroughly

3. Check for Necessary Approvals and Clearances

4. Review the project description and details on the RERA website

5. Understand the Property’s Tax Liabilities

and reliability. This step helps you make an informed decision and avoid potential pitfalls associated with unregistered or dubious projects.

Final Thoughts

About SILA –

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Also Read: South Mumbai Developers: Balancing Modern Development and Historical Preservation

FAQs

1. What types of properties do you offer?

We specialize in residential real estate in the Mumbai Metropolitan Region (MMR) and are currently constructing over 750,000 sq. ft. across our projects.

2. How do I find out more about your projects?

You can contact us via phone, email, or through the contact form on our website. We are available to assist you with any queries or concerns you may have.

3. Are the properties RERA registered?

Yes, all our projects are registered under the Real Estate Regulatory Authority (RERA) to ensure complete transparency and compliance with government regulations.

4. What are the benefits of buying a property from SILA?

We provide high-quality construction, timely delivery, transparent dealings, and excellent after-sales service. Our properties are also located in prime areas with modern amenities.

About SILA -

SILA – A Real Estate platform driven by an entrepreneurial spirit.

Our businesses include Real Estate Services which offer Facility Management, Contracting Solutions and Real Estate Advisory. Our other business is Real Estate Development. We have a diverse client base in various sectors which include large Corporates, Real Estate Funds, Landowners and Developers.

Over the last decade, SILA has scaled efficiently, managing over 150 million square feet of assets, with over 22,000 employees pan India. The platform is backed by Norwest Venture Partners and Samara Capital Group in our Real Estate Services and Development arms, respectively.

SILA is one of the best housekeeping services in India, Mumbai, Delhi, Chennai, Hyderabad, Pune & more.

SILA is among the top facility management companies in India, offering comprehensive property management services and housekeeping solutions. As a leading Integrated facility management services company, SILA provides tailored FM solutions, including a housekeeping agency in Mumbai. Leveraging our expertise, we ensure seamless property management for clients nationwide. Whether you require housekeeping agency support or specialized facility management solutions, SILA delivers excellence in every aspect of your property’s upkeep and maintenance.

About Author -

Alysha Vazirally

Alysha is a dynamic and results-driven professional with over 15 years of experience, currently serving as Assistant Vice President, Sales & Marketing at SILA. In this role, she spearheads the sales and marketing team, driving innovative growth strategies in the Real Estate sector. Alysha’s expertise in optimizing price, quality, and delivery, combined with her strategic approach to risk management, ensures that SILA consistently meets and exceeds its sales targets. Her leadership in sales and marketing fosters strong client relationships and propels the company’s market presence, making her an invaluable asset to the real estate industry.