The 21-point pre-purchase, financing and registration checklist every first-time buyer should tick off before signing the dotted line.
Buying your first home is India’s biggest financial decision. Miss a checkpoint and it can cost ₹10-30 lakh in surprises or years of legal drama. Here’s our field-tested 21-point checklist.
A. Discovery (Days 1-14)
1. Set a realistic budget. EMI should stay under 40% of monthly take-home. 2. Pick 3 shortlisted localities based on office commute, schools and 5-year appreciation potential. 3. Filter by RERA-verified projects only. Use the “Verified“ toggle in our Property search. 4. Physically visit at least 5 sites. Never buy blind.
B. Due diligence (Days 15-30)
5. Title chain verification — 30-year history through a property advocate. 6. Encumbrance certificate from the sub-registrar. 7. Approved building plan & occupancy certificate. 8. NOC from society/builder. 9. Property tax paid-up receipts. 10. RERA registration number cross-check on the state RERA portal.
C. Financing (Days 20-40)
11. Compare 3 home loan quotes — see our Loan Services. 12. Get pre-approval to negotiate faster. 13. Factor 12-15% overhead — stamp duty (6-7%), registration (1%), GST on under-construction (5%), loan processing (0.5-1%), interiors (₹1,200-3,000/sqft).
D. Negotiation & agreement (Days 40-55)
14. Negotiate 5-12% off listed price. Ask for waived club/car-park charges. 15. Read the sale agreement line-by-line with your advocate. 16. Confirm possession date + penalty clauses (₹5-15/sqft/month for delay is standard).
E. Registration & possession (Days 55-70)
17. E-stamp duty payment before deed execution. 18. Registration at sub-registrar’s office (both parties + 2 witnesses + Aadhaar/PAN). 19. Mutation in municipal records. 20. Property tax name change. 21. Home insurance — 0.2-0.5% annual premium covers structure and contents.
Stuck? Email our advisor at globalpropertymart95@gmail.com — free 30-min email consultation for first-time buyers.
