The first-home buying checklist for India

Fix a realistic all-in budget first

Your all-in budget is more than the sticker price. Add stamp duty, registration, brokerage, GST where relevant, loan processing fees, and a fit-out buffer before you decide what you can actually afford.

Keep a 6–9 month emergency buffer after your down-payment so a job or income change never forces a distress exit.

• Round-trip costs typically add 7–12% on top of the asset price.
• Stress-test your EMI at 150–200 bps higher — can you still service it comfortably?
• Separate the asset price from parking, fit-outs, and society transfer charges.

Narrow down the area you are buying in

A "whole city" search hides the smaller areas where supply and pricing differ block by block. Pick a segment and a tight area, then filter by beds, budget band, and property type so your shortlist means something.

• Prefer 15–40 comparable listings over a single standout listing.
• Check how recent the listings are. Stale asking prices often mean the seller's expectations are out of step with the market.
• Note possession / OC status; it changes both risk and negotiation leverage.

Build document confidence early

Serious buyers collect soft copies and questions during shortlisting — not in closing week. Clean chain of title, approved plans, and tax receipts protect your money and speed up your loan.

• Encumbrance / chain: seller identity should match documents across periods.
• OC / CC / fire NOC for ready inventory; RERA registration for new projects.
• Society / lessor NOCs where applicable for resale.