Buying your first home is one of the biggest financial decisions you will ever make. A little diligence upfront can save you from years of stress, so before you sign anything, run through this practical checklist.
The excitement of owning your first home can sometimes rush the decision. But property is a long-term commitment, and the difference between a good buy and a costly mistake usually comes down to what you checked before signing. Below are the ten most important things every first-time buyer in India should verify.
1. Verify the RERA Registration
Since the Real Estate (Regulation and Development) Act came into force, every eligible project must be registered with the state RERA authority. Always confirm the RERA number on the official state portal — it protects you against delays, misleading claims and diversion of funds.
2. Check the Legal Title and Approvals
Ensure the seller has a clear, marketable title. Ask for the title deed, the encumbrance certificate, the approved building plan and the occupancy or completion certificate. A quick review by a property lawyer is money well spent.
3. Confirm Your Loan Eligibility Early
Before falling in love with a home, get a pre-approval from your bank. This tells you your realistic budget, your interest rate and the documentation you will need — and makes you a stronger buyer when negotiating.
The best time to understand your finances is before you start visiting properties, not after.
4. Understand the Total Cost of Ownership
The sticker price is only the start. Budget for stamp duty and registration (typically 5–7% in most states), GST on under-construction property, maintenance deposits, parking charges and interiors. These “hidden” costs can add 10–15% to your outlay.
5. Research the Location and Connectivity
Evaluate proximity to your workplace, schools, hospitals and public transport. Also look at upcoming infrastructure — a planned metro line or expressway can significantly boost future appreciation.
6. Inspect Construction Quality
Visit the site and, if possible, a completed project by the same developer. Check the fittings, wall finishes, water pressure, ventilation and the quality of common areas.
7. Read the Builder-Buyer Agreement Carefully
Pay close attention to the possession date, penalty clauses for delay, the exact carpet area (not just super built-up), and the payment schedule. Never rely on verbal promises.
Key Takeaways
- Always verify the RERA number on the official state portal.
- Get loan pre-approval before you start visiting homes.
- Budget an extra 10–15% for stamp duty, GST and other costs.
- Insist on carpet area figures, not super built-up.
- Have a lawyer review the title and agreement.
Priya Sharma
Director, Sales
Priya is part of the Prop Gallery team, helping clients across Delhi NCR make confident, well-informed real estate decisions.
