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Sumit Group in Mumbai
Last Updated: November 18, 2024
Sumit Group is a top real estate developer in India, with a portfolio of 1 projects, including 1 in Mumbai. They offer a variety of options, including new launches, under-construction properties, and ready-to-move-in apartments. Known for quality and innovation, Sumit Group’s projects span residential and commercial sectors. Explore Lodha Group New Project in Mumbai to find your perfect property and experience excellence in real estate.
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Sumit Group
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Sumit Group is a well-established real estate developer with a strong presence in Mumbai and Goa. It was founded in 1986 and has built a reputation for delivering quality residential projects that cater to a wide range of budgets, from affordable housing to luxury apartments. The Sumit Group not only constructs homes but also plays an active role in urban development through its participation in slum rehabilitation projects. These projects are aimed at converting underprivileged areas into mo ... dern living spaces, thereby enhancing the quality of life for residents. Additionally, the group is dedicated to sustainable practices and integrates eco-friendly features into its projects, demonstrating a responsible approach to development. With a focus on customer satisfaction, quality construction, and social responsibility, Sumit Group has steadily grown over the years. The company expanded its operations to Goa in 1997 and has successfully completed numerous projects in both states. Through a combination of residential development, slum rehabilitation, and eco-friendly initiatives, Sumit Group has established itself as a reliable and respected name in the Indian real estate market.
About Mumbai
The city of dreams for millions, where your passion gets a wing to fly. Every Mumbaikar has one thing common in their wishlist, to buy a flat in mumbai. Mumbai is also considered as the economic capital of India. Mumbai is a major destination for every business person as well as other professionals. The city's infrastructure continuously changes as it develops, transforms, and improves. The people of Mumbai and its suburbs now enjoy a lavish lifestyle because of the city's rapid and sudden development in recent times. Mumbai's and its suburbs' real estate market is substantially expanding with the merger of the residential development of the megacity with the Thane and Navi Mumbai districts. Enhanced connectivity and modernized infrastructure, makes Mumbai a preferred location to all.
In terms of connectivity, career growth, hospitality, safety, and all the other major aspects, Mumbai is a preferred location in India. The main reason behind the rise in the Mumbai real estate market is its career growth opportunity and easy connectivity across the city. Mumbai has extensive transport connectivity via roadways like highways/bridges and railways like local/ metro/ monorail. In fact the railways are considered to be the lifeline of Mumbai.
Stamp Duty and Registration Charges in Mumbai
The stamp duty and registration charges in Mumbai are determined by the Maharashtra Stamp Act of 1958. Recently the government has updated rates of SDR in different regions of mumbai. Stamp duty and registration fees are determined by several variables, including the type of property, the owner's gender, the apartment's location, its market value, and its age.
| Area Limits in Mumbai | Stamp Duty For Male Homebuyer | Stamp Duty For Female Homebuyer | Registration Charges |
| Within the municipal limits of any urban area | 6% | 5% | 1% |
| Within the limits of a municipal council/ cantonment area/ panchayat area within MMRDA | 4% | 3% | 1% |
| Within the limits of a gram panchayat | 3% | 2% | 1% |
Stamp Duty and Registration Charges in Different Location of Mumbai
| Location/Area | Stamp Duty Fee | Registration Fee |
| South Mumbai | 5%+1% metro cess | 1% |
| Central Mumbai | 5%+1% metro cess | 1% |
| Western Mumbai | 5%+1% metro cess | 1% |
| Navi Mumbai | 5%+1% metro cess | 1% |
| Harbour | 5%+1% metro cess | 1% |
| Thane | 5%+1% metro cess | 1% |
Registration Charges Based On Property Value
| Party | Registration Charge |
| Homebuyer (both male and female) | Property value below ₹30 lakh = 1% Property above ₹30 lakh = ₹30,000 |
Insights on Mumbai Region
Mumbai is the capital of Maharashtra and is also known as the financial capital of India, due the contributions of billionaires in this city, to the economy and global events. Mumbai is one of the most populous cities in India, boasting 21.7 million residents across the city. Mumbai is a metro cosmopolitan city with a vibrant and a mixed culture, attracting people from all backgrounds and religions. Mumbai is also a major tourist attraction for places like Chowpatty Beach, Modern Art Gallery, Gateway of India, Marine Drive, Sanjay Gandhi National Park, Chhatrapati Shivaji Terminus, and more such places. Apart from the glamor of this city, it has also been working towards multiple infrastructure projects to improve the connectivity across the city. The city has also undergone significant changes over the past few years, with the new trend and innovations in the Mumbai real estate market. Considering all these factors, Mumbai is one of the great places to live and work.
Community Living: Mumbai is known for its mixed cultural living city and creating a community for a better living standard. Watching this trend, developers are also building projects that offer shared spaces, such as co-working areas, clubhouse, gym, garden, and other amenities to socialize.
Suburban Living: As Mumbai is one of the most populated cities in India, the demand for flats in Mumbai keeps rising. Due to its high demand, suburbs like Thane, KDMC, and Navi Mumbai are rapidly becoming preferred choices for homebuyers.
Technology: The demand for smart homes in Mumbai is continuously increasing among the homebuyers. Developers are also incorporating the AI tools and automation systems in the new projects, for the comfort and convenience of its residents.
Social Infrastructure: There are top quality schools, healthcare facilities, and recreational amenities available across the city, enhancing the liveability of an area – making it more appealing to potential homebuyers and tenants.
Affordability: Due to its increasing population, there is a high demand in affordable apartments in Mumbai. This demand special comes from the low or middle income group of people. To cater this type of customer, developers are building projects that are affordable yet sustainable.
Job Opportunity: Mumbai is a thriving business and commercial hub and is home to several prominent industries, including finance, media/entertainment, technology, and textiles. This gives a great job opportunity to people across all the domains.