How to buy property Step-by-step checklist
Plan your purchase with confidence. Avoid surprises, keep documentation ready from day one, and move through each stage methodically.
Fix your budget (the right way)
- Down payment + registration costs (stamp duty, registration, legal, broker, moving).
- Monthly comfort: EMI + maintenance + utilities.
- Keep a buffer for interior work and emergencies.
Shortlist locations and projects
- Commute, schools, hospitals, and upcoming infrastructure.
- Builder reputation and track record for on-time delivery.
- Compare price trends and resale / rental demand.
Do a proper site visit
- Visit at different times (traffic, noise, waterlogging).
- Check parking, ventilation, sunlight, and amenities quality.
- Ask for detailed payment schedule and possession timeline in writing.
Legal & due diligence checks
Before paying a booking amount, verify the basics:
- Title/ownership and chain of documents.
- Approvals (layout/building), occupancy status, and encumbrances.
- RERA registration details (for applicable projects).
Home loan (if applicable)
- Compare rates, processing fees, and prepayment rules.
- Prefer a sanction letter before committing to large payments.
Agreement, payments, and registration
- Read the agreement carefully (carpet area, possession date, penalties, refund clauses).
- Make payments via traceable methods and collect receipts.
- Plan stamp duty and registration in advance.
Frequently Asked Questions
1. How much money do I need to buy a property in India?
Besides the property price, budget for stamp duty (4–8% depending on state), registration charges (~1%), brokerage (0.5–2%), legal/documentation fees, and interior fit-out costs. Most lenders finance 75–90% of the property value, so you'll need at least 10–25% as a down payment plus the additional costs above. Always keep a 5–10% buffer for emergencies.
2. What should I check during a site visit?
Visit at different times of day to assess traffic and noise. Check parking availability, ventilation, natural light, water pressure, and the quality of common amenities. Inspect the flooring, walls, and fittings critically. Ask the builder or seller for the exact carpet area, super built-up area, possession timeline, and a detailed payment schedule in writing before committing.
3. What legal checks are mandatory before paying a booking amount?
Before paying any booking amount, verify the seller's title deed and chain of ownership, encumbrance certificate (for financial liens), approved building/layout plans, RERA registration (for applicable projects), and occupancy/completion certificate (for ready properties). Never skip these checks—engage a qualified property lawyer for a full title search.
4. Is it better to buy a ready-to-move or under-construction property?
Ready-to-move properties eliminate construction risk and let you move in immediately—you see exactly what you get. Under-construction properties are typically priced lower and allow staggered payments, but carry risks of delays and quality variations. Assess the builder's track record, RERA details, and your financial timeline before choosing.
5. What is the role of a sale agreement vs. a sale deed?
A sale agreement (agreement to sell) is a preliminary contract that outlines the terms—price, possession date, payment schedule, penalty clauses—before the final transfer. A sale deed is the actual legal document that transfers ownership, executed and registered with the sub-registrar. Both documents are critical: read the agreement carefully before signing, and register the deed promptly after paying stamp duty.