Can someone help me understand the procedure of buying a flat ?

POSTED BY Happyinvest007 ON December 27, 2014 11:16 am COMMENTS (2)

Hi,

I’m buying a new (Under Construction) flat in Pune and would like to know what exactly procedure after paying initial booking amount.

Around 50% construction completed and it will get complete in next year. I have paid initial few amount and rest will be through HOME LOAN. can you please share the detailed procedure for buying a flat. like property registration, sale deed, property card, conveyance deed etc.

Thanks in advance.

2 replies on this article “Can someone help me understand the procedure of buying a flat ?”

  1. Happyinvest007 says:

    Thanks Manish, this helps me however, can you please help in understanding procedure for sanction of loan before getting home loan. And which home loan you had – SBI, HDFC, or any other? Also co-applicant is necessary (I’m owning flat solely on my name) as bank agent told me that its necessary.

    I contacted SBI and HDFC today and both banks gave me list of docs and they told it will take for SBI – 10-12 days and for HDFC 7-8 days for getting sanction letter to me.

  2. I bought a home on loan (but fully constructed and ready for possession last year) . SO I can share my steps with you

    Step 1 – Booking Amount paid Rs 2 lac and got a reciept from builder

    Step 2 – Started arranging for downpayment and also applied for home loan

    Step 3 – Once the loan is sanctioned and the bank has made the cheque ready , I went to and paid down payment

    Step 4 -Registration of house and sale deed completed

    Step 5 – Paid the cheque to builder from bank side

    Step 6 – Got the possession ..

    Not sure how much this helped ?

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