Buying Property in Mumbai as an NRI: Costs, Stamp Duty, RERA Checks and Home Loans (2026)

Buying a flat in Mumbai as an NRI in 2026: what you can buy, 6% stamp duty, GST, TDS, RERA checks, NRI home loans and paying from NRE or NRO accounts.

Oberoi Sky City residential towers in Borivali East, Mumbai

For many NRIs, a flat in Mumbai is equal parts investment and homecoming plan. The market is deep, rents are steady and the paperwork is manageable from abroad. But the real cost of buying property in Mumbai as an NRI is well above the agreement value, and the checks that protect you have to be done before you pay the token, not after.

Here is what an NRI buyer needs to know in 2026, in the order decisions actually get made.

What property can an NRI buy in India?

Under India's foreign exchange rules, NRIs and OCI cardholders can freely buy residential and commercial property, with no limit on the number of units. What they cannot buy without special permission is agricultural land, plantation property or a farmhouse. A flat or office in Mumbai is straightforward.

How NRIs must pay

Payment has to come through normal banking channels: an inward remittance from abroad, or a debit to your NRE, NRO or FCNR account in India. Cash, foreign currency notes and traveller's cheques are not allowed. Keep every bank advice, because it matters later when you sell and repatriate the money.

The full cost of buying a flat in Mumbai

The agreement value is only the start. These are the charges that sit on top of it.

Cost	2026 rate in Mumbai	Notes
Stamp duty	6% for men, 5% for women (includes 1% metro cess)	Charged on the higher of agreement value or the ready reckoner rate
Registration fee	1%, capped at ₹30,000	Paid to the Sub-Registrar
GST	5% on under-construction homes (non-affordable); nil on ready homes with OC	Resale flats with an OC carry no GST
TDS (deducted, not an extra cost)	1% if the seller is resident and the price is ₹50 lakh or more	Filed on Form 141; far higher if the seller is an NRI
Other	Brokerage, legal fees, society transfer charges, loan processing	Budget 1 to 3% more

On a ready ₹2 crore resale flat bought by a man, stamp duty alone is ₹12 lakh and registration ₹30,000. Registering in a woman's name, or jointly, saves 1% on stamp duty. Our buyer's tool hub brings the calculators together, and the EMI calculator shows the monthly cost of financing.

Buying from another NRI? Then you must get a TAN and deduct tax on the full sale value at the non-resident rate. We explain the seller's side in selling Mumbai property as an NRI.

In Mumbai, the cheapest mistake is the one you catch on the MahaRERA website before you pay the token.

RERA and title checks before you pay anything

Search the project on MahaRERA. Confirm the registration number, approved plans, promised completion date and any complaints. See how to verify a RERA project.
Compare carpet area. RERA requires carpet area in the agreement. Ignore super built-up figures in brochures.
For resale, check the OC and the chain. Ask for the occupation certificate, all previous agreements, Index II and the society share certificate.
Check dues. Property tax, society maintenance and any loan on the flat should be cleared or settled at closing.
Know where to complain. Our RERA helpdesk explains complaints and buyer rights.

Lodha Kiara residential project in Mumbai — Browse vetted, MahaRERA-registered new projects in Mumbai or ready resale flats.

Home loans for NRIs

Most Indian banks and housing finance companies lend to NRIs for property in India, usually up to 75 to 80% of the value depending on the loan size. EMIs are repaid from your NRE or NRO account. Expect to provide overseas salary slips, an employment contract, visa or residence proof and bank statements.

New launch or resale?

New projects offer modern amenities and payment plans, but carry GST and delivery risk. Ready resale flats can be rented immediately, carry no GST and let you see exactly what you are buying. For an investor, resale often wins on yield; for an end-user planning a return in five years, a well-chosen new project can make sense. Compare neighbourhoods in our guide to the best areas to rent or buy in Mumbai.

After you buy

If the flat is new, follow our possession checklist for NRIs. If you plan to rent it out, remember your tenant must deduct 31.2% TDS on rent paid to you as an NRI, which we explain in TDS on rent to an NRI landlord. TND property management can tenant, collect rent and handle the compliance for you.

Frequently asked questions

Can an NRI buy property in Mumbai?

Yes. NRIs and OCI cardholders can buy any number of residential or commercial properties. Agricultural land, plantations and farmhouses need special permission.

What is the stamp duty in Mumbai in 2026?

6% for men and 5% for women, including the 1% metro cess, on the higher of agreement value or ready reckoner value. Registration is 1%, capped at ₹30,000.

Can NRIs get a home loan in India?

Yes. Indian banks lend to NRIs, typically up to 75 to 80% of the property value, with EMIs paid from an NRE or NRO account.

Do I need to be in India to buy a flat?

No. With a power of attorney in favour of someone in India, the agreement can be signed and registered without you travelling.

Related reading

Looking to buy? See how TND helps NRIs buy or book a video call.

Rates and rules as understood in October 2026; verify with the Department of Registration and Stamps, Maharashtra, and a chartered accountant before acting.

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