Selling your flat in Mumbai — the complete guide
Selling a property in Mumbai involves legal paperwork, tax obligations and negotiation. This guide walks you through every step.
Documents required to sell a property in Mumbai
Title Documents
Original sale deed / conveyance deed. Chain of title for the past 30 years where applicable.
Society Documents
Share certificate (for cooperative societies). NOC from the housing society. Maintenance dues clearance.
Regulatory Approvals
Occupation Certificate (OC) / Completion Certificate. Building plan approval. RERA registration (for under-construction).
Tax & Financial
Latest property tax receipt. Encumbrance certificate (EC). Home loan NOC if property was mortgaged.
Identity Documents
PAN card (mandatory for transactions above ₹50 lakh). Aadhaar card. Passport and visa (for NRI sellers).
Utility Clearances
Electricity bill (no outstanding dues). Water charges clearance. Maintenance dues clearance from society.
The selling process — step by step
- Pricing — Get a market valuation. TND provides a free comparative market analysis based on recent transactions in your building and 1km radius.
- Preparation — Gather all documents. Fix minor defects. Professional photography significantly increases buyer interest and sale price.
- Listing & marketing — List with TND. We market to our NRI network, verified buyers database and partner portals.
- Buyer shortlisting — We pre-qualify all buyers: ID-verified, financially capable, genuine intent. You only meet serious buyers.
- Negotiation — TND negotiates on your behalf. We know the market and will not let you leave money on the table.
- Agreement for Sale — Signed agreement with a token amount (typically 1%–2% of sale price). Legally binding on both parties.
- Stamp duty & registration — Sale deed drafted, stamp duty paid, deed registered at the Sub-Registrar’s office.
- Possession — Property handed over with a documented inventory. TDS deducted by buyer if applicable.
Capital gains tax on property sale
- Short-term capital gain (property held <2 years): Taxed at your income tax slab rate
- Long-term capital gain (property held 2+ years): Taxed at 12.5% without indexation
- NRI sellers: TDS deducted at 20.8% (LTCG) or 31.2% (STCG) by buyer
- Section 54 exemption: Reinvest LTCG in another residential property within 2 years to claim full exemption
NRI sellers: You can repatriate up to USD 1 million per financial year from the sale proceeds of one property. Funds must flow through an NRO account. TND’s legal team handles the entire repatriation process — contact us.
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