“New to real estate? This simple, step-by-step guide for first-time homebuyers in India or Konkan covers everything from budgeting and legal checks to registration and possession.
“Step-by-Step Guide for First-Time Home Buyers in Buying Property in India or Konkan Buying your first Indian property can be intimidating, but it does not have to be. Start by firmly establishing your budget, not just the cost of the property but also registration fees, stamp duty, legal fees, and loan processing fees. Shortlist next sites that suit your lifestyle or investment plan — how close to work, schools, transport, or future expansion might be critical. Having selected your area, search through listings from verified sources or estate agents. When you see a property you would prefer, check the legal title, encumbrance certificate, and land use permits. It is a good idea to have a property lawyer check at this stage. After due checks by lawyers, take a home loan from a reliable bank or housing finance institution. They’ll check your eligibility and release the loan after they approve your documents. Ensure that you have a sale agreement prepared that explicitly mentions the terms, payment timeline, and possession date. And finally, the registration — where the property is formally transferred to your name at the local sub-registrar office. Keep all papers safely in your possession. Purchasing property is a milestone event, and staying informed at every step makes it easier and more satisfying.
