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FREQUENTLY ASKED QUESTIONS
Frequently Asked Questions (FAQs) for Buying Open Plots in Third Mumbai (Near Navi Mumbai)
Investing in open plots in Third Mumbai presents a lucrative opportunity, but it requires careful due diligence. Below is a comprehensive list of FAQs to help buyers make informed decisions before investing.
General Questions
Third Mumbai is a planned urban development initiative by the Maharashtra government under MMRDA. It covers 124 villages across 323 sq. km in Raigad district, beyond the Mumbai Trans Harbour Link (MTHL). The government is acquiring land for future infrastructure, making it a high-potential investment.
KSC New Town Development Authority (karnala Sai chirner) with total 124 villages Talukas- Uran, Panvel, Pen
The Mumbai Metropolitan Region Development Authority (MMRDA) is spearheading the project as the New Town Development Authority (NTDA). The project is in its early stages, with land acquisition and planning underway.
Unlike Navi Mumbai, which has been developed under CIDCO, Third Mumbai is being developed under MMRDA with a more extensive focus on infrastructure, transit, and urban planning. It is positioned to be a business and commercial hub, attracting significant investments.
Land Ownership & Title Verification
Always verify:
- 7/12 Extract (Satbara Utara) – Confirms ownership and land classification.
- Mutation Records – Shows past transactions and ownership changes.
- Encumbrance Certificate – Ensures no legal disputes or mortgages exist.
- NA (Non-Agricultural) Order – Confirms the land is converted for residential or commercial use.
Since 124 villages are under government acquisition, buyers should verify if the plot is not reserved for public development. Also, confirm the zoning classification (residential, commercial, industrial, agricultural) before purchase.
Yes, agricultural land can be purchased, but conversion to Non-Agricultural (NA) status is required for construction. The process involves obtaining approvals from Tehsildar, Town Planning Department, and Collector’s Office.
Documentation & Legal Compliance
- Title Deed & 7/12 Extract
- Sale Agreement & Sale Deed
- Property Tax Receipts
- Encumbrance Certificate
- NA Order (if applicable)
- Development Plan Approval (for plotted development)
Yes, under the Indian Registration Act, 1908, all land transactions must be registered with the Sub-Registrar's office, and stamp duty must be paid.
As per Maharashtra’s regulations:
- Stamp Duty: 5%-6% of the transaction value
- Registration Fee: 1% of the transaction value (capped at ₹30,000)
- Stamp duty and registration fee: 6% stamp duty
Development Regulations & Investment Safety
Yes, as of October 15, 2024, MMRDA approval is mandatory before any development. Buyers should check zoning regulations and permissible land use before investing.
If the government acquires land for infrastructure, it will compensate landowners at 3-4 times the market rate. However, investors must ensure their land is not in reserved zones to avoid forced acquisition.
Banks generally provide loans only for NA plots with clear titles. Agricultural or disputed land is not eligible for financing. Private finance or NBFCs may offer loans with higher interest rates.
Infrastructure & Connectivity
- Mumbai Trans Harbour Link (MTHL) – Direct connectivity to South Mumbai
- Navi Mumbai International Airport – Enhancing real estate demand
- Dedicated Industrial & Logistics Zones
- Upcoming Metro & Road Networks:
Local connectivity Nerul to Uran
Metro connectivity Mankhurd to Airport & Siddhivinayak to Dushme
- South Mumbai (via MTHL) – 30-40 mins
- Navi Mumbai International Airport – 20-25 mins
- Panvel & Karjat – 30-40 mins
- JNPT Port & Industrial Hubs – 20-30 mins
ROI & Future Growth Potential
With upcoming infrastructure and government-driven development, land prices are projected to rise by 3-5 times in the next 5-10 years.
- Government-backed Development – Ensuring long-term appreciation
- High Connectivity – Mumbai, Navi Mumbai, Pune, and Konkan regions
- Affordable Entry Cost – Compared to Mumbai/Navi Mumbai land prices
- Potential Government Buyback – Assured high-value exits for investors
- Investor Plots – Low-cost high-return investment
- Residential Plots – For future housing developments
- Commercial Plots – For business and retail hubs
- Industrial Plots – Close to logistics and port areas
- Agricultural & Farm Lands – For long-term appreciation
Partnering with a Trusted Advisor
- Clear-Title Verified Plots – Ensuring hassle-free ownership
- Legal & Documentation Support – Complete assistance with paperwork
- End-to-End Investment Guidance – From selection to registration
- Resale & Exit Strategies – Helping investors maximize returns
- Strong network with farmers & landowners – Direct access to prime plots
- Backed by a legal team – Ensuring risk-free transactions
- Transparent deals & fair pricing – No hidden costs or middlemen
- Post-Sales Support – Assistance with development & resale opportunities
Final Considerations Before Buying
- Verify land title & ownership
- Check zoning & permissible land use
- Confirm legal approvals & documentation
- Understand development restrictions & future potential
- Choose a trusted developer or consultant
- Strong network with farmers & landowners – Direct access to prime plots
- Backed by a legal team – Ensuring risk-free transactions
- Transparent deals & fair pricing – No hidden costs or middlemen
- Post-Sales Support – Assistance with development & resale opportunities
- Investor Plots – Low-cost high-return investment
- Residential Plots – For future housing developments
- Commercial Plots – For business and retail hubs
- Industrial Plots – Close to logistics and port areas
- Agricultural & Farm Lands – For long-term appreciation