Question 1

What is meant by stamp duty?

Accepted Answer

Stamp Duty and registration charges are some of the preliminary requirements for purchasing a property. Stamp duty is a tax that is levied on a single purchase of property and it has to be physically impressed on the document concerned showing that the stamp duty has been paid.

Stamp Duty Calculation differs from state to state but they are usually 5-7% of the market value of the property. Stamp duty in Mumbai had been reduced to 2% till March 2021 due to the pandemic, but now reinstated back to 5% from April 2021. It also depends on the kind of property, commercial or residential, number of floors, and location. It is payable on sale deeds, conveyance deeds, and power of attorney papers. It should be paid on or before the date of executing a document. It can be paid through money order or DD within two months of the execution of the instrument.

Question 2

Why invest in Mumbai real estate through Raas Realty? (copy)

Accepted Answer

Raas Realty offers premium properties in prime Mumbai locations with excellent ROI potential, backed by trust, transparency, and design excellence.

Question 3

What does vastu shastra for home mean?

Accepted Answer

Vaastu shastra for home is a traditional and ancient form of Indian Architecture that proposes to use the benefits of nature, its energy fields, and elements in a scientific way to enhance wealth, happiness, and health in our living space. Although it may not be absolute for your home, it’s the science of the environment around you to enhance your daily life. It creates an energy around you that revitalizes the energy in your body and your mind.

One of the most important Vastu tips for homeowners and buyers is the direction of the main entrance. Vastu Tips for home entrance suggest that the main door of the house is regarded as a gateway for good energy, so make sure you make it Vastu-friendly. For example, if the door is facing the south, place a pyramid or a helix near it.

Question 4

What is property tax?

Accepted Answer

Property Tax payment is made out to the local government or the municipal corporation of his area. It includes the owner’s tangible assets which include his house, his properties that rents out, other residential commercial or residential properties that he possesses. For property tax online payment, one can go to their municipal corporation website and access the property tax portal to pay their taxes.

Depending on the use of property, the property tax rate in Mumbai ranges from 0.316%-2.296%.

If it’s a disputed property, then the property tax will be paid by the person selected by the assessing officer till a decision has been reached in court. Property tax calculator depends from state to state but to calculate property tax in Mumbai the following formula is used-It is a percentage of the *capital value of the property.

*Capital value = Rate of base value^* Total carpet area/area of land in case of vacant land * building type * age factor * usage factor * floor factor.

(just check the numbers & calculations)

Question 5

What is the process of booking a property with Raas Realty?

Accepted Answer

After choosing the unit, pay the booking amount, complete the agreement, and register the property. Our team guides you at every step.

Question 6

Can I avail of a home loan for a property with Raas Realty?

Accepted Answer

Yes, our projects are approved by major banks and NBFCs. We assist with documentation and connect you with our loan partners.

Question 7

What documents are required to buy a flat in Mumbai?

Accepted Answer

You’ll need ID proof, address proof, PAN card, passport-size photos, and loan documents if applicable.

Question 8

What are the benefits of investing in under-construction projects?

Accepted Answer

Lower entry cost, flexible payment plans, and capital appreciation by possession make under-construction properties attractive.

Question 9

How do I verify the legal status of the property?

Accepted Answer

Raas Realty ensures all properties have clear titles, RERA registration, and approvals from relevant authorities.

Question 10

What is RERA and how does it protect buyers?

Accepted Answer

RERA (Real Estate Regulatory Authority) ensures transparency, timely delivery, and protection of buyer interests in real estate transactions.

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