Too Good to Be True? Apartment in Andheri at ₹1.3 Cr (Incl. Stamp, Reg, Brokerage) – Need Advice on Title Search vs. SBI Loan Check

[Silentdude4928]

S

Silentdude4928
PARTICIPANT
March 31, 2025 at 2:46 pm

I’m a 21M with no experience in real estate. I found a 800+ sqft apartment in Andheri listed for ₹1.3 Cr (negotiated), while the market value is around ₹1.9 Cr. The price includes stamp duty, registration, and brokerage, which seems like an unbelievable deal.

The seller is asking for ₹50-60L upfront, as they plan to move to Kerala, with the rest covered via loan. My dad thinks it’s risky, and my mom finds a ₹50-90K title search fee too high.

I’ve heard SBI has strict loan approval checks, including title verification and valuation. Would applying for an SBI loan be a sufficient safeguard, or should I still get a lawyer’s title search before making the down payment?

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[Megagirish1284]

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Megagirish1284
PARTICIPANT
March 31, 2025 at 3:12 pm

Very sus

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[Braveseeker242]

B

Braveseeker242
PARTICIPANT
March 31, 2025 at 3:14 pm

Whatever flat price is consider 10% additional cost. 10% is minimum ball park figure.

If flat is available for 1 Cr sale price, consider 10% of 1 Cr which includes stamp duty, parking charges, maintenance, amenities etc

You pay Stamp duty to government and not to seller or broker.

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[Silentdude4928]

S

Silentdude4928
OP
March 31, 2025 at 3:26 pm

Okay.
So the seller agreeing to pay both stamp duty and registration could be a hoax?

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[Braveseeker242]

B

Braveseeker242
PARTICIPANT
March 31, 2025 at 3:38 pm

Yes. Extremely fishy. I have never seen seller willing to pay these charges personally.

Post in r/Indianrealestate if someone actually did this

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[Silentdude4928]

S

Silentdude4928
OP
March 31, 2025 at 5:28 pm

Alright. Will do.

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[Lavanyabro181]

L

Lavanyabro181
PARTICIPANT
March 31, 2025 at 3:37 pm

There might be some legal issues.
Bank don’t look for any legal issues open. The seller is supposed to disclose it.
However even if SBI passes loan and later you find issue, you are still liable to pay the loan.

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[Coolkishore46]

C

Coolkishore46
PARTICIPANT
March 31, 2025 at 4:42 pm

SBI is just interested in giving the loan they don’t care if the Properties Legal or not Legal. A proper search report will establish the title as well as you got to search for litigation on this property. Do the transaction through an escrow account only after you’ve done all your due diligence

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[Fiercethinker7369]

F

Fiercethinker7369
PARTICIPANT
March 31, 2025 at 5:16 pm

Looks fishy.
You can hire your own lawyer do the needful search or you can tak to SBI regarding the loan and they will do their due diligence.
SBI is very strict in this matter I have experienced this personally. So if SBI clears the property with no problem then you can go ahead.

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[Fiercewolf6829]

F

Fiercewolf6829
PARTICIPANT
March 31, 2025 at 5:20 pm

Spending 50-90k on a title search is a small amount compared to the property’s price. I strongly advise you not to buy the property without a lawyer’s help.

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[Silentdude4928]

S

Silentdude4928
OP
March 31, 2025 at 5:31 pm

I was actually thinking the same thing, I’ll go ahead and do the title search with the help of a lawyer regardless whether my family likes it or not, because it’s a negligible amount compared to the returns it’ll give me if this truly is a genuine sale of property.

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[Manojtiger674]

M

Manojtiger674
PARTICIPANT
March 31, 2025 at 5:30 pm

800sqft in andheri at 1.9cr is also fishy let alone 1.3cr
it should be around 2.5cr

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[Silentdude4928]

S

Silentdude4928
OP
March 31, 2025 at 5:35 pm

Yeah, I know what you mean but those prices are near the station, and this property is 8-10 km away from the station.

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[Manojtiger674]

M

Manojtiger674
PARTICIPANT
March 31, 2025 at 5:51 pm

which area? if you dont mind me asking?

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[Silentdude4928]

S

Silentdude4928
OP
March 31, 2025 at 5:52 pm

Near Sakinaka metro

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