Your Dream Home Awaits

Typically, banks finance up to 80-90% of the property value, so you'll need to arrange 10-20% as down payment. For example, on a ₹50 lakh property, you would need ₹5-10 lakh as down payment. Some government schemes may offer higher financing for first-time buyers.

Beyond the property price, budget for:

• Stamp duty and registration (5-7% of property value)
• Legal and documentation fees (₹20,000-₹50,000)
• Interior work and furnishings (₹5-15 lakh depending on size)
• Maintenance deposit (varies by society)
• Moving costs and utility connections

Ready-to-move properties offer immediate occupancy but may be more expensive. Under-construction properties are typically 10-20% cheaper but carry completion risk. Consider:

• Your timeline for moving in
• Builder's track record for under-construction projects
• Payment plan flexibility
• Price difference and appreciation potential

Essential documents to verify include:

• Title deed and chain of ownership
• Approved building plans and completion certificate
• Encumbrance certificate (last 30 years)
• Property tax receipts
• Society NOC (for apartments)
• RERA registration for new projects

We recommend engaging a lawyer to verify all documents.

To increase your loan eligibility:

• Maintain a credit score above 750
• Reduce existing debts (credit cards, other loans)
• Include all income sources (bonuses, rentals, etc.)
• Add a co-applicant with good income
• Choose a longer tenure (reduces EMI burden)
• Show stable employment history (2+ years preferred)