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Buying your first commercial property is a different process from a residential purchase — different documents, different financing, different questions to ask. If Meghna One Wagle Estate is on your shortlist, here’s a practical checklist to work through before you book. (For a broader look at the project’s overall benefits and drawbacks, see our detailed breakdown.)
Before You Book: Verification Checklist
☐ Confirm MahaRERA registration directly on the portal. Meghna One’s registration number is PC1330002601099 — look it up yourself on maharera.mahaonline.gov.in rather than relying on a broker’s word. The portal shows registered land area, promised possession date, and any filed complaints.
☐ Confirm carpet area, not super built-up area. Since RERA, developers must quote carpet area — the actual usable space within your unit’s walls. Make sure any price-per-sq.ft. comparison you’re doing against other projects uses the same basis; mixing carpet area with super built-up area can distort your comparison by 25–30%.
☐ Ask for the current construction stage and, if construction has started, visit the site in person rather than relying on renders alone.
☐ Get the full payment schedule in writing and confirm whether installments are tied to construction milestones or a fixed calendar.
☐ Clarify what’s included and excluded — parking allocation, maintenance/society charges, floor-rise charges, and any preferential location charges for lake-facing or corner units.
☐ Ask about the developer’s delivery track record on previously completed projects, independent of this specific tower’s own merits.
Documents You’ll Typically Need
☐ PAN card and Aadhaar (or equivalent KYC documents) ☐ Proof of income / business financials (especially important if buying through a company or LLP, since eligibility is assessed differently than for individual home loans) ☐ Bank statements for the past 6–12 months ☐ If financing through a loan: pre-approval or in-principle sanction letter
Financing Considerations
Commercial property loans differ from residential ones — expect a lower loan-to-value ratio (often 60–70% versus 80–90% for a home loan) and typically higher interest rates. Start the financing conversation with your bank or NBFC early, since commercial loan eligibility depends heavily on business financials if you’re purchasing through a business entity.
Tax and Cost Considerations
☐ GST — currently 12% on under-construction commercial property, with input tax credit implications depending on your business structure ☐ Stamp duty and registration charges — standard Maharashtra rates apply on top of the base price ☐ Factor both into your total budget upfront, not as a late surprise at agreement signing
Questions Worth Asking Directly
- What happens if possession is delayed beyond the RERA-registered date?
- Is the quoted price locked, or subject to escalation clauses tied to construction stage?
- What’s the maintenance/society structure planned post-possession?
- Are there specific units (e.g., lake-facing) at a premium over the base rate?
Conclusion
None of this is complicated, but skipping any one of these steps is where first-time commercial buyers most often run into avoidable surprises later. The RERA verification and the carpet-area confirmation are the two most important items on this list — everything else follows more easily once those are locked down.
Have questions about your specific situation, or want the current price list and floor plans? Call or WhatsApp us at +91 99992 21552 — we’re happy to walk first-time buyers through the process.