Buying a flat in Mumbai, including areas like Dombivli West, requires a thorough understanding of the legal process to ensure a smooth and hassle-free transaction. Whether you are considering 1 BHK and 2 BHK flats in Dombivli West or investing in a large township like Swaminarayan City Dombivli, here is a step-by-step guide to the legal formalities involved.
Title Verification and Legal Due Diligence
Before finalizing a property, ensure that the title of the flat is clear. Check for the following:
- Verify the Title Deed to confirm ownership details.
- Check for any pending litigation or encumbrances on the property.
- Ensure the seller has the legal right to sell the property.
Verify RERA Registration
All projects must be registered under the Real Estate (Regulation and Development) Act (RERA). Visit the Maharashtra RERA website to confirm whether the project, such as Swaminarayan City Dombivli, is legally approved and compliant with regulations. Other important details also should be cross-verified on the RERA website.
Agreement to Sale and Stamp Duty
Once satisfied with the legal status, the next step is executing an Agreement to Sale with the builder or seller. Important aspects include:
- Payment terms, possession date, and penalties for delays.
- Government-approved stamp duty and registration charges need to be paid.
- In Mumbai, stamp duty ranges between 5-6%, plus a 1% registration fee.
Home Loan Approval and Bank Verification
If you are financing your purchase through a home loan, banks will conduct their own legal verification. Documents required include:
- Sale Agreement
- Property Title Deed
- Approved Building Plan
- Occupancy Certificate (for ready properties)
Sale Deed and Final Registration
After clearing all dues and verifying documents, a Sale Deed is executed and registered.
- This is done at the Sub-Registrar’s Office.
- Ensure all payments, including maintenance and society charges, are settled.
Possession and Mutation of Property
Upon registration, the buyer receives possession. The final step is the mutation of property records in the local municipal office, officially transferring ownership.
Conclusion
Understanding the legal process before buying a flat in Mumbai ensures a safe investment. Whether choosing 1 BHK or 2 BHK flats in Dombivli West within a trusted township like Swaminarayan City Dombivli, thorough legal verification safeguards your property ownership. Always consult a legal expert to avoid any discrepancies and ensure a secure purchase.