Frequently Asked Questions 

About Devika Developers and Builders

Who are Devika Developers and Builders?

Devika Developers and Builders (DDB) is a trusted real estate development and advisory company based in Chembur, Mumbai. With 20+ years of experience, we specialise in residential development, redevelopment, and end-to-end property consulting across Mumbai and India. We are a one-stop partner for buyers, investors, landowners, and institutions.

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Where is DDB located?

Our office is at Office No. 4C, A-Wing, 1st Floor, Sita Estate, Near BPCL Mono Railway Station, RC Marg, Chembur, Mumbai – 400074. You can reach us at +91 91671 52597

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How many years of experience does DDB have?

Over 20 years. We have successfully completed multiple residential projects in Chembur and Navi Mumbai, delivering homes with quality construction and transparent dealings.

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Is DDB registered with MahaRERA?

Yes, applicable projects are MahaRERA registered. Our completed project Devika Tower carries MahaRERA registration No. P51800032905. For projects on plots under 500 sq metres, MahaRERA registration is not mandatorily required under current regulations.

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Our Projects

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What is your current ongoing project?

Our ongoing project is Ishwar Aangan, located at Laxmi Colony, Chembur, Mumbai. It is a 10-storey residential building offering 1BHK and 2BHK homes starting from ₹1.3 crore. Key highlights include no property tax (as flats are under 500 sq ft), HDFC home loan assistance, Jaquar bathroom fittings, Otis/Schindler lifts, and fire-fighting systems as per MCGM norms.

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What upcoming projects does DDB have?

We have three upcoming redevelopment projects in Chembur: Sakshatkar C.H.S. Ltd (~1500 sq metres, Chembur), Trinity Apartment (~750 sq metres, Sindhi Society, Chembur), and Ishwar Aangan Co-op Housing Society Ltd (~500 sq metres, Laxmi Colony, Chembur). Contact us to know more about investment and booking opportunities.

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Do you only build in Chembur?

Our residential development projects are currently focused in Chembur, Mumbai. However, our consulting and advisory services cover residential plots, commercial properties, and institutional properties across Mumbai and other parts of India.

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Buying and Selling Property

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Does DDB help with buying and selling properties beyond your own projects?

Yes. In addition to our own developments, DDB offers property advisory and transaction support for buyers and sellers across Mumbai. Whether you are looking to buy a ready-to-move flat, invest in a residential plot, or sell an existing property, our team can guide you through the entire process — from property identification and due diligence to documentation and registration.

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What types of properties do you assist with buying and selling?

We assist with a wide range of property types, including residential apartments and flats across Mumbai, residential plots in Mumbai and surrounding areas, redevelopment society participation for landowners, commercial spaces, and institutional properties such as deemed university campuses across India.

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Can NRIs use DDB's advisory services?

Yes. We are equipped to assist NRI buyers and investors with property purchases in Mumbai, including guidance on FEMA compliance, power of attorney, and home loan options available to NRIs through Indian banks.

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Real Estate Consulting

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What consulting services does DDB offer?

DDB provides end-to-end real estate consulting for individuals, investors, developers, and institutions. Our consulting services include project feasibility and planning, land acquisition advisory, redevelopment consulting for housing societies, property valuation guidance, legal and documentation support coordination, and investment advisory for residential and institutional properties.

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Can DDB help our housing society with redevelopment?

Yes, this is one of our core strengths. We work closely with housing societies in Chembur and across Mumbai to evaluate redevelopment potential, liaise with builders, navigate municipal approvals, and ensure member interests are protected throughout the process. Call us at +91 91671 52597 to schedule a consultation.

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Do you assist with land acquisition?

Yes. DDB advises on land acquisition for residential development, institutional use, and commercial projects. We help identify suitable land parcels, conduct title due diligence, negotiate terms, and manage the end-to-end acquisition process for developers and investors.

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Deemed Universities and Institutional Properties

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Does DDB deal in deemed university properties?

Yes. DDB has advisory experience in institutional real estate, including the buying, selling, and leasing of properties suited for deemed universities and educational institutions across India. This includes campus land parcels, existing institutional buildings, and greenfield development sites. If you are an institution looking to expand or an investor with an institutional property, we can connect you with the right opportunities.

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What makes DDB suited to handle institutional property transactions?

Institutional transactions require a different level of due diligence — AICTE and UGC compliance, land use permissions, development control regulations, and long-term lease structures. Our team brings the experience and network to navigate these complexities efficiently.

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Home Loans and Financial Guidance

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Which banks offer home loans for DDB projects?

Home loans for Ishwar Aangan are available through reputed banks. Our completed project Devika Tower was approved by HDFC, SBI, and IDBI Bank. We assist buyers with the documentation and loan coordination process at no extra charge.

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Are there any tax benefits on buying a flat at Ishwar Aangan?

Yes. Since the flats at Ishwar Aangan are under 500 sq ft, they are currently exempt from property tax under applicable municipal regulations — resulting in meaningful long-term savings for owners. Additionally, home loan borrowers can claim tax deductions under Section 24(b) and Section 80C of the Income Tax Act.

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Buying Property in Chembur & Mumbai — Common Questions

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Is Chembur a good area to buy a flat in Mumbai?

Yes — Chembur is one of the better-value residential locations in central Mumbai. It offers excellent connectivity via the Eastern Express Highway, the Harbour Line railway, and the Mumbai Monorail. The area has established social infrastructure — schools, hospitals, markets, and parks — and has seen consistent demand from working families and investors over the past decade. Compared to areas like Powai or Bandra, Chembur offers significantly more value per square foot without compromising on location or connectivity. For buyers looking for a practical home in a well-connected neighbourhood, Chembur is a strong choice.

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What does the property tax exemption on flats under 500 sq ft in Mumbai actually mean for buyers?

Under current MCGM regulations, residential flats with a carpet area of less than 500 square feet are exempt from property tax. This exemption applies to properties like the homes at Ishwar Aangan, where all units are under 500 sq ft. In practical terms, this saves owners anywhere from ₹10,000 to ₹30,000 or more per year depending on the property — a meaningful saving over a 10–20 year period of ownership. The exemption applies as long as the regulatory provision remains in force. We recommend buyers confirm the current status with their CA or a legal advisor at the time of purchase.

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What is the difference between a MahaRERA-registered project and one that does not require MahaRERA registration?

MahaRERA (Maharashtra Real Estate Regulatory Authority) registration is mandatory for real estate projects above a certain threshold — specifically, projects on plots larger than 500 square metres or with more than 8 units. Projects on smaller plots, like Ishwar Aangan (which is on a plot under 500 sq metres), are not required to register under MahaRERA. This does not mean the project is unregulated — it still requires Commencement Certificates, IOD, and full MCGM compliance. Buyers should request and review all relevant approvals (IOD, CC, plan sanction) regardless of MahaRERA applicability. At DDB, we make all project documents available for review — you can view the IOD and Commencement Certificate for Ishwar Aangan directly on our project page.

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What documents should I check before buying a flat in Mumbai?

Before signing any agreement or paying a token amount, verify the following: (1) Title documents — confirm the seller/developer has clear, marketable title to the land. (2) IOD (Intimation of Disapproval) and Commencement Certificate from MCGM — confirms the building is legally approved for construction. (3) Approved building plan — ensure the flat you are buying matches the sanctioned layout. (4) MahaRERA registration (if applicable) — check the project's registration and progress on maharera.mahaonline.gov.in. (5) Encumbrance certificate — confirms no loans or dues are outstanding on the property. (6) Sale agreement and allotment letter — reviewed by an independent lawyer before signing. At Devika Developers, we provide all project documents upfront and encourage buyers to seek independent legal review before committing.

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How long does the home loan process take for a flat in Mumbai?

For a standard salaried applicant with complete documentation, a home loan from HDFC, SBI, or a major bank typically takes 7 to 21 working days from application to sanction. Disbursement follows after the bank's technical valuation of the property, which can take an additional 7–10 days. NRI buyers may require additional time for FEMA documentation and overseas income verification. DDB assists all Ishwar Aangan buyers with loan coordination at no extra cost — we work directly with reputed banks to streamline the process. Call us on +91 91671 52597 to start.

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Is it better to buy a flat or a residential plot as an investment in Mumbai?

Both have different risk-return profiles. A flat in a well-located building like Ishwar Aangan offers immediate rental income potential, no construction management burden, and clear financing through home loans. A plot offers higher long-term capital appreciation potential but requires active development, more capital upfront, and a longer investment horizon. For first-time buyers or investors with a 3–7 year outlook and moderate risk appetite, a flat in a high-demand area like Chembur is generally the more practical and liquid choice. For HNI investors with a 10+ year horizon and the capacity to develop, plots in the Mumbai Metropolitan Region can deliver superior returns. DDB advises on both — contact us for a no-obligation consultation.

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How do I know if a builder in Mumbai is trustworthy?

Look for: (1) a track record of completed and delivered projects — ask for addresses and visit them; (2) MahaRERA registration history and no complaints filed on the RERA portal; (3) home loan approvals from nationalised or major private banks — banks conduct independent due diligence before approving projects; (4) transparent documentation — a trustworthy builder will share all approvals, title documents, and plans upfront; (5) an office and verifiable physical presence. Devika Developers has a 15+ year track record in Chembur, with completed projects approved by HDFC, SBI, and IDBI, and a registered office at RC Marg, Chembur that you are welcome to visit in person.

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Contact and Next Steps

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How do I book a site visit for Ishwar Aangan?

Simply call or WhatsApp us at +91 91671 52597. Our team will schedule a convenient time for a site visit and walk you through the available units, floor plans, and pricing.

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How do I get in touch with DDB for consulting or advisory services?

Reach us at  +91 91671 52597. You can also fill in the contact form on our website and we will get back to you within 24 hours. Our office in Chembur is open Monday to Saturday.

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Note: Updated May 2026