⚡ Quick Answer
The real cost of a flat in Mumbai is the agreement value plus stamp duty, registration, GST (for under-construction homes), parking, society and maintenance charges, home loan fees and interiors. Ask for a written, all-inclusive cost sheet before you book.
- Stamp duty and registration rates are set by the Maharashtra government and can change - always check the current rates.
- GST applies to under-construction homes, not to ready homes with an occupancy certificate.
- At L&T The Gateway Sewri, prices are shared on request.
When you see the price of a flat, it is natural to treat that number as your budget. In practice, the amount you finally pay is higher. Government charges, taxes, developer charges, loan costs and interiors can add a significant amount on top of the agreement value.
This guide lists every cost to plan for when buying a flat in Mumbai, so there are no surprises. We do not quote rates here because they change from time to time – use this as a checklist and confirm the current figures with the developer, your bank or a tax advisor.
The Agreement Value
The agreement value is the price of the flat written in your agreement for sale. It is the base on which stamp duty, and in many cases GST, are calculated. It may or may not include items like parking or certain charges – so read the cost sheet carefully to see what is inside the agreement value and what is billed separately.
Stamp Duty and Registration
In Maharashtra, you pay stamp duty and registration charges to the state government when your agreement is registered. These are usually a percentage of the agreement value or the government’s ready reckoner value, whichever is higher.
- Rates can differ by location and can be revised by the government.
- There have been concessions in the past, for example for women buyers, so ask whether any apply to you.
- Stamp duty is generally paid at the time of registration, so keep these funds ready separately from your down payment.
GST on Under-Construction Homes
GST applies to under-construction flats and is charged on the value of the home as per the government’s rules. It does not apply to ready-to-move-in homes that have received an occupancy certificate. GST rates for housing have been revised in the past, so confirm the current rate and how it is calculated on your cost sheet.
Developer and Society Charges
Beyond taxes, developers often list other charges. These vary by project, so ask for each one in writing:
| Charge | What it usually covers |
|---|---|
| Parking | A covered or stack car parking space, where offered |
| Society formation & share money | Setting up the housing society and membership |
| Maintenance deposit | Advance maintenance for an initial period after possession |
| Corpus or sinking fund | A long-term fund for major repairs |
| Club or amenity charges | Access to the clubhouse and amenities, if charged separately |
| Utility connections | Electricity meter, water and gas connections |
| Legal charges | Documentation and agreement-related fees |
Not every project has every charge. Ask which ones apply and whether GST is added to them.
Home Loan Costs
If you are taking a home loan, add these to your budget:
- Down payment: banks finance only part of the home’s value, so you pay the rest yourself.
- Processing fees charged by the bank.
- Legal and technical fees for the bank’s checks on the property.
- Pre-EMI interest: for under-construction homes, you may pay interest on the amount disbursed until possession.
- Insurance: some lenders suggest home or loan insurance.
Costs After Possession
- InteriorsFurniture, wardrobes, kitchen fittings, lights and appliances.
- Monthly maintenanceOngoing society charges, usually based on area.
- Property taxPaid to the municipal corporation every year.
- Moving costsPackers and movers, and any temporary stay.
Larger homes cost more to furnish and maintain. Our 3 BHK vs 4 BHK vs 4.5 BHK guide explains how running costs grow with size.
How to Build a Realistic Budget
- Ask the developer for a written, all-inclusive cost sheet for the exact unit.
- Check current stamp duty, registration and GST rates and add them.
- List every developer and society charge, and whether GST applies to it.
- Add home loan fees, down payment and any pre-EMI interest.
- Set aside money for interiors, moving and the first year of maintenance.
- Keep a buffer for unexpected costs.
Budgeting only for the base price is one of the most common mistakes when buying a flat in Mumbai – see the other eleven too.
The biggest cash item in your budget is usually your own contribution. See how much down payment you need for a flat in Mumbai.
For the full home-buying process – from carpet area to MahaRERA checks – read our step-by-step guide to buying a flat in Sewri.
Related Guides
- L&T The Gateway Sewri price: how to get the latest price
- The flat booking process: EOI, allotment letter and agreement for sale
- Resale vs new project flats in Mumbai
- Planning your home interiors before possession
- Maintenance Charges, Corpus Fund and Society Formation Explained
- Home Loan Tax Benefits in India: Section 24(b) and 80C Explained
- Home Insurance for a New Flat in Mumbai: A Simple Guide
- Upgrading from a 2 BHK to a 3 BHK or 4 BHK: When It Makes Sense
- Agreement for Sale: Key Clauses to Read Before You Sign
- Buying a Second Home in Mumbai: A Practical Guide
- Real Estate Glossary for Mumbai Home Buyers: Key Terms Explained
- Property Tax in Mumbai: A Simple Guide for Flat Owners
- Selling Your Old Flat to Buy a New One in Mumbai: Timing, Tax and Loans
- Down Payment for a Flat in Mumbai: How Much Cash Do You Really Need?
- 12 Common Mistakes to Avoid When Buying a Flat in Mumbai
- Buying a Home During the Festive Season in Mumbai: A Calm, Practical Guide
- Home Loan Eligibility: How Much Can You Borrow for a Flat in Mumbai?
- 20:80 Payment Plan vs Construction-Linked Plan: Which Should You Choose?
Frequently Asked Questions
What is the total cost of buying a flat in Mumbai?
The total cost is the agreement value plus stamp duty, registration, GST (for under-construction homes), developer and society charges, loan costs and interiors. Ask for a written cost sheet to see the full amount.
Is GST charged on ready-to-move flats?
No. GST applies to under-construction homes. It does not apply to completed homes that have an occupancy certificate.
Who pays stamp duty, the buyer or the developer?
The buyer usually pays stamp duty and registration charges when the agreement for sale is registered.
Can stamp duty be included in a home loan?
Banks usually do not finance stamp duty and registration, so plan to pay these from your own funds. Confirm with your lender.
What is the price of flats at L&T The Gateway Sewri?
Prices are shared on request. Fill in the enquiry form on this page and our team will send a detailed cost sheet.
Where can I check current stamp duty rates?
On the official website of the Maharashtra Department of Registration and Stamps (IGR), or ask your lawyer.
Conclusion: Budget for the Full Picture
The price of a flat is only the starting point. Stamp duty, registration, GST, developer charges, loan fees and interiors all add up, so plan for them from day one. A written, all-inclusive cost sheet is the single most useful document you can ask for. If you are considering L&T The Gateway Sewri, request a cost sheet or call +91 80503 63647.
L&T The Gateway, Sewri
Get a Written Cost Sheet
Get a detailed cost sheet, floor plans and payment details for 3, 4 and 4.5 BHK residences in Sewri, Mumbai. Our team will call you back.
