Plan beyond EMI when buying property in Maharashtra.
Budget Beyond Down Payment
Stamp duty, registration, brokerage, legal checks, interiors and society charges can add up.
Keep a buffer before committing all savings to down payment.
Under RBI limits, lenders fund at most 75–90% of the property value depending on loan size, and stamp duty and registration are generally paid from your own money on top of the down payment.
Stamp Duty And Registration
Stamp duty in Maharashtra is charged on the higher of the agreement value and the ready reckoner value. The rate differs between municipal and other areas, can include an additional cess in some cities, and has at times offered a concession for women buyers.
Registration fees are charged separately, subject to a cap. Check current rates on the Inspector General of Registration (IGR) Maharashtra website or with a lawyer before you budget.
Illustration only: if stamp duty and registration together came to 6% on a ₹1 crore flat, you would need ₹6 lakh beyond the down payment just to register the purchase.
Other Costs To List
GST applies to under-construction property but not to a ready property with a completion or occupancy certificate, so ask the builder to show it as a separate line.
Society charges can include a maintenance advance, corpus fund, share money and, for resale flats, transfer fees. Add brokerage, legal due diligence, the loan processing fee with 18% GST, home insurance, interiors and moving.
If the property costs ₹50 lakh or more, the buyer generally has to deduct 1% TDS from the payment to the seller and deposit it; check the current rule before the sale.
Due Diligence
For a new project, check its MahaRERA registration and approved plans. For a resale flat, check the title chain, encumbrances, society no-dues and that property tax is paid up.
Keep the registered agreement and the stamp duty and registration receipts safely. You need them for the loan, for claiming stamp duty within 80C under the old regime in the year paid, and for working out capital gains when you sell.
Compare Rent And Buy
Use rent-vs-buy planning for cash flow, investment opportunity cost and property appreciation assumptions.
Lifestyle stability and commute also matter.
Include stamp duty and other one-time costs in the comparison; they are spent on day one and can take years of appreciation to recover.
Verify Local Charges
Property charges change by location and transaction type, so verify current rates before paying.
Use the Home Loan Calculator to size the EMI, the Rent vs Buy Calculator with all upfront costs included, and the Prepayment Strategy Calculator to plan how a bonus or windfall could shorten the loan.