Resale vs Under-Construction Flats in Nashik

The money leaves your account at different times

A resale flat is paid for at once, against registration of the sale deed and handover of the keys. An under-construction flat is paid in stages tied to construction, under an agreement for sale that must follow the MahaRERA model form. The promoter cannot take more than 10% of the cost before that agreement is registered.

Stamp duty falls at the start in both cases. For a new flat it is paid when the agreement for sale is registered, often years before possession, and loans rarely cover it.

GST applies only to the new flat

GST on an under-construction flat is 5% of the price without input tax credit, or 1% for affordable housing, which means a price up to Rs 45 lakh and carpet area up to 60 sq m in metropolitan cities or 90 sq m elsewhere. That is the rate structure in the GST Council's real estate FAQ, and post-2025 guides report it unchanged. A completed flat sold after its occupancy certificate carries no GST, and neither does a resale flat.

On a Rs 50 lakh under-construction flat at 5%, GST is Rs 2,50,000. Confirm the rate with the developer's invoice and your chartered accountant.

The law gives the under-construction buyer specific remedies

Section 18 of the RERA Act is the main one. If the promoter misses the possession date in the agreement, you can withdraw and get your money back with interest, or stay and receive interest for every month of delay. You do not need a special clause for this. In Maharashtra the interest rate is the State Bank of India's highest marginal cost of lending rate plus 2%.

The promoter must also put 70% of buyers' money into a separate account used only for the project's construction and land. Buyers' money is meant to build the project, and the separate account is how the Act keeps it there. After possession, structural or workmanship defects you report within five years must be fixed free of charge within 30 days.

The resale buyer relies on the paper trail

A resale buyer has no promoter to hold to the RERA Act for the sale itself. Protection comes from the title. Have an advocate trace every earlier sale deed, search the sub-registrar's index for mortgages, and check the society's share certificate is in the seller's name.

Ask for the society's no-dues letter, the latest property tax receipt, the electricity bill in the seller's name and, for newer buildings, the occupancy certificate. If the seller still owes a bank, get the lender's letter stating the outstanding amount, and pay that part directly to the bank.

Checking each kind

For an under-construction project, search it on maharera.maharashtra.gov.in, the only official site, and read the declared completion date, the approved plans and any complaints. The promoter's filing must list the projects it launched in the past five years. Visit two of them.

For a resale flat, see it at the hours you would use it. Ask neighbours about water supply through the summer and about any pending repairs the society has voted on.

Costs common to both

Stamp duty inside Nashik Municipal Corporation limits is 5% under the Stamp Act plus a 1% municipal surcharge, as reported from the corporation's receipts, and possibly a 1% metro surcharge not confirmed for Nashik. Budget 7% and confirm the rate with the sub-registrar. Registration is about 1%, capped at Rs 30,000.

At Rs 50 lakh or more from a resident seller, the buyer deducts 1% TDS from the price and deposits it. That applies to a builder as seller too.

JebuK Properties, MahaRERA agent registration A031222602911, checks RERA status and shortlists both kinds of flat with buyers at no charge.