"Should I buy a ready-to-move flat or book an under-construction one?" is one of the most common questions we hear from home buyers in Mulund and Vikhroli. The question is especially live this month. New projects are opening for bookings in the eastern suburbs; for example, Hiranandani announced pre-launch expression-of-interest (EOI) bookings for a Mulund East project on 5 November 2026, quoting prices from ₹1.2 crore with a 30:70 payment plan and bank subvention (Hiranandani announcement). This guide compares both routes on cost, risk and paperwork so you can decide with clear numbers.
A ready-to-move flat is in a building that has its occupancy certificate (OC) or completion certificate, so you can register the sale and move in. Resale flats in established societies fall in this group. An under-construction flat is booked from a developer in a MahaRERA-registered project and handed over on the possession date promised in the agreement. You usually pay in stages as the building rises.
Not always. A listings portal that tracks Mulund West put the median asking rate of new launches at about ₹30,000 per sq ft of carpet area, against a median of ₹29,574 per sq ft for resale flats, as on 7 November 2026 (Real Estate Mumbai, Mulund West data). These are asking prices, not registered deals, but they show that the old rule of "new launch is always cheaper" does not hold everywhere. Compare the full cost, not just the rate per sq ft.
Per the GST Council FAQ on the real estate sector, from 1 April 2019 the effective GST on residential flats in a project is 5% of the total value without input tax credit, or 1% for affordable flats. To count as affordable in a metro city (the whole Mumbai Metropolitan Region), the flat must have a carpet area of up to 60 sq m and a value of up to ₹45 lakh. A CRISIL note of September 2025 confirms these property rates stayed the same after the 2025 GST rate changes. On a ₹1 crore non-affordable flat, 5% GST works out to ₹5 lakh.
When the OC or completion certificate has been issued, the sale is a transfer of immovable property and GST does not apply. The same is true of resale flats. A building that "looks ready" but has no OC is still treated as under construction, so ask for a copy of the OC for that specific wing.
In both cases you pay stamp duty and registration. Our stamp duty and registration guide for 2026 explains the rates, and you can check charges on the IGR Maharashtra portal.
The biggest risk is that the building is late. The registered agreement and the project page on MahaRERA show the promised completion date. Under the RERA Act, if a promoter fails to give possession as agreed, the buyer can seek a refund with interest or interest for the delay. Check the developer's past projects and the quarterly progress updates on the MahaRERA project page before you book.
Section 3 of the RERA Act says a promoter cannot advertise, market, book or sell flats in a project that needs registration until it is registered with MahaRERA. Every advertisement must carry the MahaRERA registration number. Before you hand over an EOI cheque, ask for the registration number and look it up yourself. If the project is not registered, do not pay.
Section 13 of the RERA Act bars a promoter from taking more than 10% of the flat's cost as an advance or application fee before a written agreement for sale is registered. If you are asked for more, stop and take advice.
If you live on rent, you may pay rent and a part home loan EMI (or pre-EMI interest) at the same time until possession. Subvention plans can shift some of this cost to the developer for a period, so read the tripartite agreement carefully. Our post on the repo rate and home loan EMIs helps you plan the loan side.
For resale homes, paperwork is the main job. Use our resale flat documents checklist before you pay a token amount.
Always compare flats on RERA carpet area; our guide on carpet area vs built-up area shows how.
If you are leaning towards a new building, look at OM GN Willows at Kannamwar Nagar-1, Vikhroli East (MahaRERA P51800077593). It offers 1 and 2 BHK homes from ₹78.50 L all-inclusive. You can check its registration on MahaRERA and ask us for the full cost breakup and payment schedule. For ready resale and rental flats in Mulund and Vikhroli, browse our properties page, and for a wider view of the two areas read why Mulund and Vikhroli remain strong choices in 2026.
Gita Real Estate is a MahaRERA-registered agent (A51800006506) with an office in Mulund West. We help with buying, selling and renting, and with stamp duty and registration. We can shortlist ready and under-construction options side by side, check MahaRERA details with you, and arrange site visits. Call or WhatsApp +91 90821 79935 or +91 93239 85063, or reach us through our contact page.
No GST applies when you buy a flat for which the occupancy certificate (OC) or completion certificate has already been issued, or when you buy a resale flat from an owner. You still pay stamp duty and registration charges.
5% of the agreement value for a regular residential flat and 1% for an affordable flat, both without input tax credit. These rates have applied since 1 April 2019 and were left unchanged in the September 2025 GST rate changes.
In metro cities, including the whole Mumbai Metropolitan Region, the carpet area must be up to 60 sq m and the value must be up to ₹45 lakh. Both conditions must be met.
Under Section 3 of the RERA Act, a promoter cannot advertise, book or sell flats in a project that needs registration before it is registered with MahaRERA. Check the project's MahaRERA number before you pay anything, and do not pay for an unregistered project.
Under Section 13 of the RERA Act, a promoter cannot take more than 10% of the flat's cost as an advance or application fee without first executing a registered agreement for sale.
Yes. Gita Real Estate is a MahaRERA-registered agent (A51800006506) with an office in Mulund West. We show both ready and under-construction options in Mulund and Vikhroli, and help with stamp duty and registration. Call or WhatsApp +91 90821 79935 or +91 93239 85063.
Comparing a ready flat with an under-construction one in Mulund or Vikhroli? Call or WhatsApp us on +91 90821 79935 or +91 93239 85063, visit gitarealestate.com, or send us a message. We will help you weigh both options before you book.
