Buying a flat isn’t just about making a down payment, it’s a long journey filled with paperwork, site visits, approvals, waiting periods, and important milestones. Whether you’re a first-time buyer or simply unfamiliar with the full process, understanding each step can help you stay in control.

Here’s a clear breakdown of what happens from booking your flat to finally taking possession, so there are no surprises along the way.

1. Booking the Flat: The First Formal Step

Once you've shortlisted a property and are satisfied with the location, layout, and pricing, you’ll pay a booking amount usually ₹50,000 to ₹2,00,000 depending on the total cost of the property it varies from one to another.

At this point, you should:

Confirm the carpet area and total cost
Ask for a cost sheet with breakup
Collect the booking receipt and unit plan
Confirm RERA registration of the project

You’re not legally bound to the property until the agreement is signed but backing out later may cost you a cancellation fee.

2. Home Loan Application and Sanction

If you’re opting for a loan (as most buyers do), this is the time to:

Choose your bank or HFC (housing finance company)
Submit income documents, ID/address proof, PAN, and the booking receipt
Wait for the bank’s property and legal verification
Receive a sanction letter with loan eligibility, EMI, tenure, and rate

Once you sign the sanction letter, the loan disbursal happens in stages (for under-construction) or in full (for ready-to-move flats).

3. Agreement for Sale and Registration

This is a legally binding agreement between you and the builder that defines:

Total price and payment schedule
Construction timelines and penalties
Possession date
Cancellation clauses
Carpet area and specifications

This agreement must be registered at the sub-registrar office within a defined timeline. You’ll need to pay stamp duty and registration charges, which vary by state.

4. Construction and Payment Linked Progress

For under-construction projects, the builder will raise demand letters based on construction stages: plinth, slabs, walls, finishing.

You will:

Coordinate with your bank for stage-wise disbursement
Track progress through RERA updates or site visits
Be informed of any project delays or adjustments

Ensure you keep all receipts and demand letters safely, as they’re needed during possession and resale.

5. Final Handover and Possession

Once construction is complete and Occupancy Certificate (OC) is issued:

You’ll receive a final demand letter
Pay final dues including maintenance deposit, electricity/water connection charges, and corpus fund
Schedule a physical inspection of the flat
Sign the possession letter after resolving any snag list items (like leakages, broken fittings, etc.)

You now officially own the flat and can proceed to interior work or move-in! With Beegru, get access to listings, project details, and insights at every stage. Every flat buyer’s journey is different make yours a confident one.