Home Buying Checklist

Start by calculating your total budget including down payment (typically 20%), registration charges (stamp duty + registration fee = 6–8% in most states), GST (5% on under-construction, nil on ready-to-move), and interior/moving costs.

Use the Avnester Affordability Calculator at /tools/what-can-i-afford to get a realistic number based on your income and existing EMIs. Keep a buffer of 5–10% for unexpected expenses.

Before you start property hunting, get a pre-approval letter from your bank. This tells sellers you are a serious buyer and gives you clarity on your maximum loan amount.

Compare at least 3 lenders — banks and HFCs. Check the interest rate (fixed vs floating), processing fee, prepayment penalty, and insurance requirements. A CIBIL score of 750+ gets you the best rates.

Shortlist 5–8 properties that match your budget and requirements. Visit each property at different times of the day to check natural light, noise levels, and traffic.

Key things to inspect: water pressure, power backup, parking, lift condition, security, and common area maintenance. Talk to existing residents if possible — they will give you the real picture.

This is the most critical step. Verify:

• Title deed — clear, marketable title for the last 30 years • Encumbrance certificate (EC) — no pending loans or disputes • Khata certificate — for BBMP/municipal tax records • Approved building plan — construction matches sanctioned plan • Occupancy certificate (OC) — building is fit for habitation • RERA registration — mandatory for under-construction projects

Hire a property lawyer to review all documents. This is non-negotiable.

Negotiate the price based on comparable sales in the area, age of the property, and any maintenance issues you spotted. A 5–10% discount on the asking price is common in resale markets.

Once agreed, sign the sale agreement with a token advance (1–2% of the sale price). Complete the stamp duty payment — use our Stamp Duty Calculator at /tools/stamp-duty-calculator for estimates. Register the property at the sub-registrar's office within 4 months of the agreement.