Flat purchase Knowledgebase

How to purchase a flat/property/real estate in Navi Mumbai

Buying real estate in Navi Mumbai need not be a lucky draw. The following steps ensure that your purchase goes through without a hassle.

Buying real estate in Navi Mumbai need not be a lucky draw. The following steps ensure that your purchase goes through without a hassle.

  • Identify flat/property you like
  • Scrutinize property papers, title documents, municipal permits, flat ownership papers, society status, CIDCO NOCs etc
  • Make sure society conveyance has been done (without this, no CIDCO NOC will be possible and without CIDCO NOC no bank will give you a loan). This is not for fresh purchases in a New Project. In a new project, no society is formed until 60% of the flats are sold by the builder.
  • Fix Price
  • Formulate MOU (Memorandum of Understanding)
  • Make Token/Part payment if taking a loan. Take a receipt for the same
  • Formulate and register the Agreement for Sale (Sale Agreement) If taking a bank loan
  • Apply for CIDCO Transfer/CIDCO NOC
  • Obtain CIDCO NOC
  • Apply for Mortgage NOC (Only if taking a loan)
  • Obtain Mortgage NOC from CIDCO
  • Get bank to disburse the loan
  • Formulate and register Sale Deed
  • Apply to CIDCO for ‘Final Order’
  • Submit CIDCO ‘Final Order’ to Society for transfer of name in Share Certificate
  • Apply for change in name in Electricity and Gas department records
  • Transaction Complete

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