Buyer Guide · 8 min read
Property Buying Checklist 2026
A complete step-by-step checklist covering finances, legal due diligence, RERA verification, agreement review, registration and possession — for buyers in South India.
Buying a home is one of the largest financial decisions you will make. In India, the process involves multiple legal, financial and regulatory steps. Missing any single step can result in disputes, delays or financial loss. This checklist covers every critical step from budget planning to taking possession.
01
Financial Planning
- Calculate your total budget including stamp duty (6–7%) and registration (1%)
- Get home loan pre-approval from 2–3 banks to compare rates
- Check your CIBIL score — 750+ for best rates
- Decide on down payment amount (minimum 20% of property value)
- Calculate EMI affordability — keep EMI under 40% of monthly income
- Account for moving costs, interior work and society charges
02
Property Search & Shortlisting
- Define non-negotiables: location, BHK, floor, facing, possession date
- Compare 3–5 projects in your shortlisted micro-market
- Check PropScore™ rating on Propspedia for objective quality assessment
- Research builder's delivery track record (past projects, possession delays)
- Visit at different times of day to check noise, traffic and sunlight
- Check proximity to your workplace, schools and hospitals
03
RERA & Legal Verification
- Verify RERA registration on state portal (tnrera.in / rera.karnataka.gov.in)
- Check approved plan matches what builder is showing you
- Verify Encumbrance Certificate (EC) for minimum 13 years
- Check title deed chain — ensure clean ownership history
- Verify land use: residential (not agricultural or commercial)
- Confirm there are no pending litigation or court orders on the land
- Get a lawyer to review the sale agreement before signing
04
Booking & Agreement
- Read the sale agreement / BTA in full before signing
- Confirm super built-up area vs carpet area (RERA mandates carpet area disclosure)
- Verify the possession date, grace period and penalty clause
- Check payment schedule — avoid milestone-linked payments for delayed projects
- Confirm what amenities and fittings are included in the base price
- Understand force majeure clauses and cancellation refund terms
05
Home Loan Disbursement
- Submit all KYC, income and property documents to lender
- Get legal opinion and technical valuation done by bank's empanelled lawyer
- Ensure loan sanction amount matches the agreed property price
- Understand the disbursement schedule — bank disburses in tranches for under-construction
- Check pre-EMI vs. full EMI options with your bank
06
Registration & Possession
- Calculate exact stamp duty and registration charges
- Book slot at Sub-Registrar office — both buyer and seller must be present
- Carry original ID proofs, PAN card and demand draft for charges
- At possession: physically inspect every room, fitting and amenity
- Get a snag list signed by the builder for any defects
- Collect all original documents: OC, title deed, society NOC, utility connections
- Transfer utility connections (electricity, water, gas) to your name
Critical Warnings
5 Mistakes That Can Cost You Lakhs
1
Skipping legal verification
Never rely solely on builder-provided documents. Independently verify title, EC and RERA with your own lawyer. A ₹10,000 legal fee can prevent a ₹50L dispute.
2
Not checking carpet area vs super built-up area
RERA mandates disclosure of carpet area. Super built-up can be 25–40% higher. Always compare price per sqft on carpet area basis across projects.
3
Ignoring the possession date clause
Read the penalty clause for delay — some agreements have ₹5/sqft/month penalties, others have no penalty at all. Negotiate this before signing.
4
Buying without Occupancy Certificate
An OC-pending flat cannot be legally occupied and banks may not finance it fully. Resale value is also impacted. Always confirm OC before paying full amount.
5
Not checking society charges
Maintenance charges, corpus fund, car parking charges and club membership fees can add ₹3–10L to your total cost. Ask for a full cost sheet before booking.
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