First Home in Navi Mumbai? Here’s Exactly How Much You Need Beyond the Property Price

Buying your first home in Navi Mumbai is exciting — but the sticker price on a project brochure is rarely the number that leaves your bank account. Between government charges, loan costs, and move-in expenses, the actual outlay can be 8–12% higher than the base price. Here’s a clear breakdown of every cost you need to budget for.

Stamp Duty and Registration

These are the two most significant additional charges. In Maharashtra, stamp duty is currently 5% of the property value for properties in municipal areas (NMMC, in most of Navi Mumbai’s case), with women buyers eligible for a 1% concession at 4%. Registration charges are 1% of the property value, capped at ₹30,000.

On a ₹90 lakh flat, stamp duty alone comes to ₹4.5 lakh, and registration adds another ₹30,000. These must be paid upfront and are non-negotiable.

GST on Under-Construction Properties

If you’re buying an under-construction flat, GST applies at an effective rate of 5% of the agreement value for non-affordable housing (carpet area above 60 sq. metre or value above ₹45 lakh). For affordable housing, the rate drops to 1%. Ready-possession properties are exempt from GST.

On a ₹90 lakh property, this can add ₹4.5 lakh to your outgo — a figure that catches many first-time buyers off guard.

Home Loan Processing and Other Bank Charges

If you’re taking a home loan, factor in a processing fee of 0.25–1% of the loan amount, which most lenders charge upfront. On a ₹70 lakh loan, that’s ₹17,500–₹70,000. Additionally, you’ll pay for legal verification, technical valuation, and CERSAI charges — typically ₹10,000–₹20,000 in total.

Society Charges and Corpus Fund

Most new projects require a one-time corpus fund deposit (also called maintenance deposit) at the time of possession. This varies by developer and project but typically ranges from ₹1–₹3 lakh. You’ll also need to clear any advance maintenance charges before the keys are handed over.

Interior and Move-In Costs

A bare shell apartment in Navi Mumbai will typically require ₹4–₹8 lakh for basic interiors — flooring, kitchen fittings, wardrobe installation, electrical work, and painting. If you’re opting for a more fitted-out look, budget upward of ₹10–₹15 lakh.

A Quick Summary for a ₹90 Lakh Property

Base price: ₹90,00,000. Stamp duty (5%): ₹4,50,000. Registration: ₹30,000. GST (5%, if under-construction): ₹4,50,000. Loan processing: ₹35,000 (approx). Society/corpus: ₹1,50,000. Interiors (basic): ₹5,00,000. Total estimated outgo: ₹1,06,15,000.

The Takeaway

Budget for at least 10% over the property price for all-in costs, and 15% if you’re also furnishing from scratch. The good news is that several of these costs — stamp duty, GST, loan charges — are fixed, predictable, and can be planned for well in advance.

TPV Vishwakarma’s projects across Navi Mumbai are priced transparently with RERA registration, so there are no hidden costs once you begin the purchase process. Visit tpvvishwakarma.com or call +91 9619967000 to get a complete cost sheet for any project you’re considering.