First-Time Luxury Homebuyer Guide: Stamp Duty, Registration, GST in Mumbai
BY RIVALI MARKETING TEAM•2026-03-30
So, you’re thinking of buying a home and are wondering about the paperwork, taxes and any hidden fees? This is for you.
The process of buying a luxury home can appear more daunting than it is. Then you’re also wondering who to trust or not to trust. It can be too much to handle.
We’ll break it all down here, and hopefully bring you some clarity and peace of mind.
Finding a Home: Ready to Move in, Nearing Completion or Under Construction?
Both ready to move in and under construction homes have their advantages and disadvantages.
Ready to Move In
Nearing Completion & Under Construction
Occupation Certificate (OC) granted by authorities. No GST applicable.
Occupation Certificate (OC) hasn’t been granted by authorities. 5% GST applicable.
Home is ready, and you can start designing and furbishing it.
There is a waiting period involved, until the project can be handed over to residents.
Selection of apartments is based on availability. Most of the flats tend to get sold at the time of launch, which leaves few options left.
As the saying goes ‘the early bird gets the worm’. Greater flexibility in apartment selection for Under Construction towers.
Apartment value as per market rates
Apartment value tends to be lower than market rates, with the value increasing as the construction progresses towards completion.
Rivali Park 2 is an upcoming gated community in Borivali
Located in the heart of Borivali, 2 minutes away from Western Express Highway, and with Sanjay Gandhi National Park a mere 10 minutes away, Rivali Park 2 offers residents the advantages of modern living against the serene backdrop of nature. There are currently four towers under construction - Sunburst, Moonrise, Stargaze and Skyleap.
Here is a look at the towers, with construction timelines as per progress in December 2025:
A visit to the developer’s Customer Experience Centre is a great to way to experience the their operation style first hand:
Are they transparent about the apartments available?
Do they have any show flats that a buyer can see?
Are the building’s plans RERA approved? Are they transparent about the construction process?
Are the Guest Relations Executives able to provide all the information you need?
Are they willing to offer answers and solutions to your queries?
When buying a home, transparency is the most important aspect of the process.
Step 1: Booking an Apartment
To book an apartment at Rivali Park 2, you need to make an advance payment, which is 10% of the apartment value. It is advisable to give a token amount at the time of booking. The buyer has up to 21 days to clear the 10% downpayment. After the 10% advance is received, the customer is a confirmed buyer and they will receive a booking confirmation email and call.
Along with the 10% booking payment, the customer’s AADHAR and PAN Card details are required for paperwork. The payment for the booking must be made from the same individual’s bank account as the name under which the apartment will be registered.
After the advance payment, within 60 days, the buyer must register the apartment and clear the following charges: Flat cost / Agreement value of apartment - Based on percentage of construction / readiness of project as per RERA compliance GST - 5% (for under construction properties) Stamp Duty & Registration - 6% (as per Mumbai circle rate) Other charges - Rs 15 lakhs for 2 BHK and Rs 20 lakhs for 3 BHK (approximately) which includes
Development and infrastructure charges
Clubhouse and maintenance charges (2 years or 5 years)
Water, electricity and gas pipeline charges
Society formation charges
Once these payments have been cleared and taxes have been paid, the apartment is registered in the buyer's name.
The buyer will be required to make timely installments towards the total value of the apartment, as per the construction progress, in accordance with RERA guidelines. This is called a Construction Linked Plan.
Every tower has a different payment schedule based on how long it is in the construction process, as well as the payment slabs that have been set. All 4 towers are ahead of schedule and expected to complete ahead of RERA timelines.
Step 4: Ready to Move in
The final 10% of the apartment value is paid when the development receives its OC (Occupation Certificate) from the authorities. The only thing left to do then is to move in! As an under construction development, Rivali Park 2 offers staggered payment flexibility and ease of mind to buyers. Our experienced Guest Relations Executives and Personal Sales Managers at our Customer Experience Centre will guide you through the process, offering advice and solutions as required. You can rest assured, we will take great care of you and make sure you have your dream home.
Important information
In Rivali Park 2, all 2 BHK residences include 1 surface car park and 3 BHK residences include 2 surface car parks, as mentioned in the agreement document.
Ensure all details in the Agreement / RERA Compliance document are correct. All project details are also available on the RERA website and are regularly updated by the developer as per the construction timeline. Do double check the RERA website and confirm information, and refer to a lawyer to be safe.
Project funding is a key aspect of the project. Rivali Park 2 is funded by a trusted financial institution, HDFC Capital. This ensures financial stability and reliability of the development.
Many developers do not mention documentation charges at the time of booking, which is then brought to the customer’s notice at the time of registration. However, Rivali Park 2 includes all charges in their estimation. No hidden charges and no surprise inclusions.
