I am buying house in Mumbai. Tell me what to look for before purchasing property in Mumbai.

Hi Buddy,

Before purchasing a property, you should conduct your own due diligence to verify that the property you are considering will not cause you any problems in the future. However, to understand the things that you need to check before purchasing a property in Mumbai, I would like to suggest that you should check the following factors;

• The property's location:

Without a question, it is the most important aspect of purchasing a home. And this should be at the top of your priority list. Educational institutions, healthcare centres, workplaces, and other social and recreational opportunities should all be accessible from your location.

• Locate high-quality contractors:

Mumbai is regarded as one of the best-planned cities in the world, therefore there are plenty of possibilities for developers. The city has several business areas, including IT parks and malls built by some of the most well-known companies in the Indian real estate sector. As a result, the foundation should be laid on a thorough understanding of the builder's reputation and track record, as well as the quality of his work.

• The dimensions:

It's possible that the builder won't be able to deliver what was specified in the brochures. In addition, if the carpet area is compared to the accumulation area before the process begins, there may be flaws. As a result, the smarter choice is to always choose the carpeted area. Understand and convey your requirements clearly so that the real structure can be expanded as needed.

• Security and safety:

Living in a flat or apartment might pose unique security challenges. With the rise in burglaries and asset thefts, it's more important than ever to pay attention to putting in place fail-safe security measures. A sophisticated alarm system, motion sensor, smoke detectors, and surveillance cameras may all be beneficial. Also, rather than an entirely hidden window, preferably one with a grill.

• Resale Value:

You don't buy a home with the intention of selling it, do you? Then, all of a sudden, things can change dramatically. And it all comes down to the decision you made before purchasing the home. First and foremost, the location. It's what comes first, and it's what keeps the odds in your favour. The more developed the neighbourhood, the more likely it is to sell. Second, the property must be suitable for renovation. Remodelling is required to resell. And, in order to remodel, the property must be located in a large area. For the takers, location eventually becomes the first natural choice.

• The documentation section:

It is vital to uphold the title deeds of your property before purchasing it. The property must adhere to the Maharashtra government's due-diligence guidelines. If you're unsure what a priority list is or how to do an ordered check, we've got you covered.

1. Examine the city survey card and the property card.

2. Examine the documents carefully. Also, at the sub-office, the registrar's the indexes of the documents related to the property.

3. If the property is owned by a cooperative housing association, engage with the group and clarify the terms.

4. Verify all court records relevant to the case and see if any disagreements remain.

• Ready Reckoner's score:

The Ready Reckoner (RR) rate is commonly employed by the government to calculate the market value of flats and apartments for registration fees and stamp duty. It also varies greatly depending on the location and size of the property within Mumbai's jurisdiction. Remember that service and value-added taxes continue to outperform stamp duty and registration fees as the government's principal sources of revenue.

Purchasing a home is a lengthy process that should not be taken lightly. It can, however, be accomplished smoothly with careful preparation and consideration.

I hope this helps:)