Guide
The full path from budget to registered sale deed — search, legal due diligence, agreement, registration, and possession.
First-time and repeat home buyers · 8 min read
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.
Location drives both livability and resale. Judge connectivity, amenities, schools, healthcare and upcoming infrastructure yourself — not just the brochure.
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.
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.
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).
