Preferential Location Charges<\/strong><\/p>\n\n\n\nAnother factor that must be looked into when looking\nfor a property in Mumbai is Preferential Location Charge (PLC). There is no\ndenying that Mumbai is a beautiful but crowded city. If you dream of owning a\nsea-facing flat, you must be ready to shell some extra money. Similarly, if you\nwant flats close to the airport or other important locations, the price would\nvary.\n\nKeep these factors in mind when you plan to buy a house. It will help\nyou get your dream home easily.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Buying a brand new house is a dream of many people.
\nOwning a house in the financial capital of India could mean a lot. Isn\u2019t it?
\nWell, Mumbai is becoming a hot-spot for investors. The city is already lined up
\nwith high-rising buildings and skyscrapers. With the growing demand for
\nluxurious accommodation, from the upper-middle class and upper-class people,
\nthe city of Mumbai is really offering some scope to the investors.<\/p>\n
Finding a Dream Home in Mumbai<\/p>\n
Finding a home in the heart of Mumbai City is a tough job. On top of that, residential properties in proper Mumbai can be very costly. Hence, for a middle-class family, it could be a bit costly. For this reason, people are demanding affordable properties that would offer luxurious living. Such residential properties in Mumbai are available only in the suburbs. In fact, many people are ready to move to the suburbs to get a beautiful house with all the modern amenities. By doing so they would be able to get a dream home that meets their budget.<\/p>\n
In the event, you are looking for a property in
\nMumbai; you must keep in mind the following things. They are:<\/p>\n
Apartments Vs Independent Houses<\/p>\n
Well, whether you want to invest in an apartment or on
\nan independent house totally your personal choice. If you want all modern
\nfacilities like a gym, swimming pool, playing area, or joggers park under one
\nroof, it\u2019s better to go for apartments.<\/p>\n
Now, apartments within residential complexes come with
\nall kind of facilities in one place. Hence, it\u2019s always a good deal to invest
\nin apartments instead of independent houses.<\/p>\n
Registration Charges and Stamp Duty <\/p>\n
Did you just love the 1 BHK Flat in Malad East? Do you want to buy it? Well, to be the sole owner of the flat\/property, don\u2019t forget to register the flat under your name. For doing this, you will need to give a registration fee to the Maharashtra government. <\/p>\n
The stamp duty that you will need to pay in Mumbai is
\n5% of the overall value of the property. On the other hand, the registration charge
\nwould be 1% of the stamp duty. Get the property registered under your name as
\nsoon as you pay the stamp duty and registration charge.<\/p>\n
Maintenance and Parking Charge<\/p>\n
Nowadays, residential properties come with parking
\nlots or spaces. To use that space, one would need to pay the parking charges.
\nAlong with the parking space, residential properties come with maintenance
\ncharge of the society. Before moving in, it\u2019s better if you check out the
\ncharges levied by such residential
\nproperties in Mumbai.<\/p>\n
GST (Goods and Services Tax)<\/p>\n
The Central Government charges the GST. Previously, home-buyers were required to pay VAT and Service Tax. Now, the GST is a combination of both these VAT and Service Tax. Keep in mind that the GST is only charged for under-construction properties. So if you are investing in an ongoing residential project in Mumbai, you will have to pay the GST. However, if you are going for a completed 1 BHK Flat in Malad East, you won\u2019t need to pay the GST.<\/p>\n
Previous Projects<\/p>\n
One shouldn\u2019t forget to check the previous projects
\ncompleted by the builder or the construction company. This would help to get an
\nidea about the work completed by the builder.<\/p>\n
Preferential Location Charges<\/p>\n
Another factor that must be looked into when looking
\nfor a property in Mumbai is Preferential Location Charge (PLC). There is no
\ndenying that Mumbai is a beautiful but crowded city. If you dream of owning a
\nsea-facing flat, you must be ready to shell some extra money. Similarly, if you
\nwant flats close to the airport or other important locations, the price would
\nvary.<\/p>\n
Keep these factors in mind when you plan to buy a house. It will help
\nyou get your dream home easily.<\/p>\n","protected":false},"author":1,"featured_media":1899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[149,147,70,148],"yoast_head":"\n
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