How to buy a home in India

1. Fix a realistic budget first

Work out what you can borrow before you fall in love with a property. Your lender caps total EMIs at a share of your income (FOIR), and the RBI caps how much of the price a bank may lend (loan-to-value). The rest is your down payment, which you fund in cash along with stamp duty and registration.

Use the MyStreetBiz calculators to turn income into a maximum home price, and a price into a monthly EMI, before you shortlist.

Budget for costs beyond the sticker price: down payment, stamp duty + registration (set per state), loan processing fees, and moving/interiors. These are upfront cash, not part of the loan.

2. Search & shortlist

Location drives both livability and resale. Judge connectivity, amenities, schools, healthcare and upcoming infrastructure — the things MyStreetBiz scores transparently — not just the brochure.

• For an under-construction or recently completed project, confirm it is registered with your state RERA and note the registration number.
• Check the builder's track record: past deliveries, delays, and litigation.
• Prefer properties with a clear approved layout and completion/occupancy certificate over cheaper but unapproved construction.

3. Legal due diligence (do not skip)

Before you pay a token, have a property lawyer verify the ownership and that the property is free to sell. This is the single step that prevents most disputes.

• Title deed chain — an unbroken record of ownership, ideally 30 years.
• Encumbrance Certificate (EC) — shows the property is free of loans/liens for the period searched.
• Approved building plan and land-use / zoning that permits residential use.
• Occupancy Certificate (OC) and Completion Certificate (CC) for finished buildings.
• Latest property tax receipts, and khata / mutation records in the seller's name.
• For a resale flat: society share certificate, NOC from the society, and no pending dues.

4. Agreement & home loan

Once diligence is clean, you sign an agreement to sell and pay a token/booking amount. In parallel, get your home loan sanctioned — the bank does its own legal and technical valuation, which is a useful second check.

Read the agreement carefully: payment schedule, possession date, penalty for delay, and what happens if either side backs out. Get a lawyer to vet it.

5. Registration — this is what transfers title

The sale deed is executed and registered at the sub-registrar's office. You pay stamp duty and the registration fee here; the registered sale deed is your legal proof of ownership. Registration of a property transfer is mandatory under the Registration Act, 1908.

If the sale consideration is ₹50 lakh or more, the buyer must deduct 1% TDS and deposit it with the government (Income-tax Act, Section 194-IA).

6. Possession & after

• Collect the possession letter and, for new builds, the Occupancy Certificate.
• Get the property mutated into your name in municipal records.
• Transfer utilities and, for a flat, the society membership.