The Current Market Pulse
Recent data confirms a robust trend in the city's property market. August 2026 recorded 12,503 registrations, the highest for that month in over a decade, contributing to a total of 106,659 registrations in the first eight months of the year. This sustained
demand is fueled by factors like stable home loan rates and a growing preference for homes in redeveloped buildings within established locations. While the market is active, it makes thorough due diligence more critical than ever for new buyers entering the fray.
Verify RERA Registration Without Fail
Before anything else, check the project's status on the Maharashtra Real Estate Regulatory Authority (MahaRERA) website. This is a non-negotiable step. The portal provides crucial details like the approved layout plan, legal status of the land, and, most importantly, the official completion date. If a project is not registered, it's a major red flag. Verify that the developer's registration is 'Valid' and not 'Expired' or 'Revoked'. This simple check offers a powerful layer of protection against project delays and false promises.
Scrutinise the Property's Legal Documents
A clean paper trail is the foundation of a safe property investment. Insist on seeing the 'Title Deed' to confirm the seller is the undisputed legal owner. Equally important is the 'Encumbrance Certificate' (EC), which shows whether the property is free from any existing loans or legal disputes. For new buildings, the 'Occupancy Certificate' (OC) is mandatory, as it certifies the building is constructed as per approved plans and is fit for habitation. Never rely on verbal assurances; have a lawyer vet all documents independently.
Understand the Full Cost of Ownership
The price on the brochure is never the final price. First-time buyers often underestimate the total financial outlay. Budget for several additional charges that can increase the property's cost by 15-25%. These include stamp duty (which can be 4-6% in Maharashtra), a 1% registration fee, and Goods and Services Tax (GST) of 5% on under-construction properties. Beyond these, there are fees for parking, maintenance deposits (often 12-24 months upfront), society formation, and legal consultation. Plan for these expenses to avoid financial strain later.
Investigate the Developer's Track Record
When buying an under-construction property, you are investing in the developer's ability to deliver. Research their past projects. Did they deliver on time? What is the quality of construction like? Look for online reviews from previous buyers and check for any history of litigation on the MahaRERA portal. A developer with a consistent record of timely delivery and quality construction is a much safer bet than one with a history of delays and disputes.
Conduct a Thorough Physical Inspection
Don't get swayed by a beautifully staged model flat. Visit the actual unit you intend to buy, preferably more than once and at different times of the day to check for natural light and ventilation. Inspect the quality of the walls, flooring, and drainage systems. Check the electrical wiring and plumbing fixtures. An empty room often reveals flaws that are hidden by furniture. If buying a resale property, it's wise to ask why the current owner is selling; their response can sometimes be very telling.
