The Complete Guide to Buying a House in India

This home buying guide gives you a detailed look at what’s in store when you buy a home, right from the legal aspects to the financial considerations and the factors to keep in mind at every step of the way.

From picking a property that matches your need to opting for a good home loan and navigating the charges that come with a loan, arm yourself with all the information that will make your home-buying journey effortless.

DOWNLOAD THE FREE HOME BUYING GUIDE

Here is a peek at what this guide has to offer:

What you need to know before buying a home

Real estate market and trends
Additional costs you need to account for
Understanding property insurance

Technical aspects to be mindful of

Check compliance with RERA
Check the sanction plan
Check for property disputes

Understanding financing options

Home Loans
Tax benefits on home loan
CIBIL score and home loans
Joint home loan
Home Loan interest subsidy via PMAY

FAQ 1. Is 2020 a good time to buy a house?

Recent reports suggest that as many as 64% of individuals renting accommodation in top metropolitan cities plan to purchase a house in 2020. It presents a positive picture of house purchase this year. Refer a home buying guide when buying your house.

FAQ 2. Is it better to rent or buy a house?

Cost of financing both the options forms a key consideration, which can vary based on existing rates for the two in different cities. While renting can be cheaper in the short run, house purchase serves best for the long term.

FAQ 3. Which is the best city to buy a house?

The top 7 most affordable cities for house purchase include Indore, Jaipur, Ahmedabad, Lucknow, Kochi, Hyderabad and Kolkata. Opt for a suitable city and check the process of buying a home to complete a hassle-free property purchase.

Understanding payment plans

Down payment
Construction-linked payment plan
Loan subvention scheme

Making the purchase

Allotment letter
Sale agreement
Sale deed registration

Repayment

Repayment strategies
Refinancing a home loan

FAQ 4. How to select the right property?

Check available amenities to shortlist properties.
Confirm RERA compliance.
Check for any property disputes and verify sanction plan.
Check affordability as per property value and the cost of financing option chosen.

FAQ 5. What should you not do before buying a house?

You must avoid the following things before initiating a house purchase -
Do not miss repayment of your existing advances.
Avoid making job changes immediately before house purchase.
Do not utilise your savings for a lump sum purchase.

FAQ 6. How much should a first-time homebuyer save?

The savings quantum depends on the value of a property one plans to purchase. The ideal savings to maintain should be 20% of the property’s value, which is usually the ideal down payment required for property registration.

Get a free home buying guide

Full Name

Please enter your fullname.

Mobile Number

Please enter your 10-digit mobile number

Enter Email ID

Please enter your email id

Pin Code

Please enter your pincode

Have you identified your property?

Please select Have you identified your property

Please Select Property Location

Property location

Have you made the down-payment

Please select Have you made the down-payment

I accept the Terms & Conditions

Please accept the terms and conditions

Almost There!

Validate the OTP to download the home buying guide

In the meanwhile, let us also check if you have a Home Loan offer

Enter the 6-digit OTP

You have pre-approved offer,

You don't have a pre-approved home loan offer

To get the above offer, Click 'Apply Now'