**Step 1: Get Your Finances in Order First**
Before you even begin property hunting, know your budget with precision. Total cost = base price + GST (5% for under-construction) + stamp duty (4% in TN, 5% in Telangana) + registration (1%) + maintenance deposit (3–6 months' maintenance) + interiors.
For a ₹80 lakh apartment, your all-in cost is typically ₹88–₹93 lakh.
**Step 2: Check Your CIBIL Score**
Banks require a minimum CIBIL score of 700 for home loan approval; 750+ gets you the best rates. Check your score at cibil.com (free annual check). If your score is below 700, spend 6 months clearing outstanding debts before applying.
**Step 3: Get Pre-Approved for a Home Loan**
A pre-approval letter tells you exactly how much a bank will lend and strengthens your negotiating position with the builder. It's free and takes 3–5 working days.
**Step 4: Verify the Builder's RERA Registration**
In Tamil Nadu: tnrera.in | Telangana: rera.telangana.gov.in | Karnataka: rera.karnataka.gov.in
Check: registration validity date, project completion deadline, number of approved units, and whether the builder has any pending complaints.
**Step 5: Inspect the Title Document**
Never buy without a clear title. The Encumbrance Certificate (EC) from the Sub-Registrar shows all transactions on the property for up to 30 years. Any mortgage, legal dispute, or pending loan will appear here.
**Step 6: Verify All Approvals**
For apartments: DTCP/CMDA plan approval, Fire NOC, Environment Clearance (for projects > 20,000 sqm), and BESCOM/TNEB power sanction. Ask the builder for certified copies — not just photocopies.
**Step 7: Understand the Carpet Area vs Super Built-Up Area Difference**
RERA mandates pricing on carpet area. Verify the carpet area in the brochure matches the RERA registration. A 1,200 sqft apartment on paper may have only 850 sqft of actual usable space.
**Step 8: Negotiate**
In a market with 3+ years of unsold inventory, you have leverage. Ask for: price reduction (5–8%), free parking slot, free modular kitchen, deferred payment schedule, or waived maintenance deposit.
**Step 9: Read the Builder-Buyer Agreement Word by Word**
Pay attention to: possession date and penalty clause for delay, force majeure definition, maintenance charges and escalation cap, and exit/cancellation policy.
**Step 10: Register the Agreement**
Under RERA, the builder-buyer agreement must be registered at the Sub-Registrar's office. If a builder refuses to register it, that is a red flag — walk away.
**Step 11: Maintain a Paper Trail**
Keep copies of: booking form, payment receipts, builder-buyer agreement, home loan sanction letter, and all correspondence (prefer email over WhatsApp for critical matters).
**Step 12: Plan for Possession**
Before taking possession, conduct a snagging inspection with a professional — look for seepage, alignment of doors and windows, electrical fitting quality, and common area completion. Do not pay the final installment until all snags are resolved in writing.
Home Buying Guide · 7 min readby PropSouth Editorial
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#First Home#Checklist#Home Loan#RERA
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