Evernest Realty - Expert Real Estate Solutions

FAQ

Q.1 What are the steps for property registration in Mumbai ?

Ans - Below is the step for property registration of real estate of Mumbai:

Head to the sub-registrar's office and grab the property registration form to kick-start the process
Fill out the application form with the important details, including Cadastral Survey No. (CS No.) of the building, year of construction and the floor on which the flat is located.
Complete the application form, adding key info like Cadastral Survey No. (CS No),of the building and your flat's floor location.
The application is approved after verification
After a check, your application gets the green light
Make the due payment for registration and stamp duty, then watch your property get its very own registration number and acknowledgement receipt.

As part of the IGR Maharashtra online services, registered properties can also be checked digitally from anywhere. There are two types of e-search facilities in IGR Maharashtra online- IGR free and paid search. IGR Maharashtra documents, Maharashtra property papers, and previous transactions can be checked via the e-search facility with the help of survey numbers and document registration numbers. These IGR Maharashtra documents allow access to information about properties registered in Mumbai, its suburbs and other areas since 1985.

Q.2 What are the rates of stamp Duty Registration in Mumbai for men and women?

Ans - The rates of stamp Duty Registration in Mumbai are expected to be around 6% of market value for men and 5% for women.

Q.3 What is oc?

Ans - An OC or Occupancy Certificate is a certificate issued by the municipal authorities allowing a newly constructed building to be occupied/fit for human habitation Occupancy Certificate is also mistakenly called an occupation certificate

In mumbai , the OC is issued under the development control and promotional regulation for greater mumbai

On receipt of the acceptance of completion certificate in the form given at annexure 19 ,the developer ,through his licenced surveyor or his architect submits to the commissioner a development completion certificate as per format of annexure 15 with three copies of the completion plan ,one of which shall be cloth mounted for record.The Commissioner may inspect the work and after satisfying himself that there is no deviation from the sanctioned plans, issue an occupancy certificate. The occupancy certificate within 21 days from the date receipt.

Q.4 What is Vastushastra, and how does it influence Indian architecture?

Ans - In India, our architecture is guided by an energy system called Vastushastra. This system assigns specific energies to different orientations. According to Vastu principles, it's recommended that the front of a house faces the northeast direction. This is because the northeast direction is important in Hindu beliefs, connected to the supreme deity Shiva. From an astrological perspective, this direction is associated with Brihaspati (Jupiter), representing wisdom and spiritual growth.

Q.5 What do banks consider when granting a home loan?

Ans - If you want to purchase a property, you need to consider some financial variables that banks will consider before providing you a mortgage. They review your income and costs over the previous several years, as well as your credit card bills, and if you have a lot of unnecessary spending, it's time to reduce your expenses, since banks do analyse spending patterns. They will also look to see whether you have any debts, such as college loans, personal loans, or tax issues. They also place a high value on your credit score, so make sure it is in the 700 phase to get a fair offer on your house loan.

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