What to expect during the apartment buying process?

Published On: 3 September 2026

The apartment buying process involves simple steps like getting your bank loan, checking land papers, making stage payments, and registering your home under RERA rules. A ready flat takes just 45 to 90 days to buy, while a new building takes 24 to 60 months until you get your keys.Every buyer follows five clear steps: set your cash budget, check property papers, sign the sale deal, pay in parts, and check the flat before key handover. You must also budget for extra state costs like 6% stamp duty, 1% sign fee, and 5% GST on new builds. Knowing these simple facts from day one keeps your hard-earned money safe and protects you from surprise bills.

Step 1: Planning Your Budget, Loan Eligibility, and Extra Costs

Planning your finances starts with saving at least 20% for your down payment while keeping your total monthly loan EMIs below 40% of your take-home pay. Most banks lend between 75% and 80% of the flat value, which means you must pay the rest from your own savings.

Extra costs usually add another 15% to 20% on top of the base flat price:

Government Taxes: 5% GST for under-construction flats, plus state stamp duty and registration fees.
Basic Amenities: Dedicated parking slot fees, clubhouse membership, and electricity connection charges.
Maintenance Advance: 12 to 24 months of advance maintenance fees paid to the society, plus a one-time sinking fund.

Step 2: Checking Legal Papers, Titles, and RERA Approvals

Checking legal documents starts by reviewing the 30-year Encumbrance Certificate (EC) to make sure the land has no unpaid debts or court cases. You can visit your state RERA website to check the builder's approved building plans, land ownership papers, and sanctioned floor layouts.

Paper Name	Who Gives It?	Why You Need It
Sale Deed	Sub-Registrar Office	Proves the seller has full legal right to sell the land.
RERA Permit	State RERA Office	Proves the project has state approval with a set end date.
Work Permit (CC)	City Town Office	Confirms the builder has the green light to dig and build.
Live-In Permit (OC)	City Municipal Body	Shows the home is safe to live in with water and power.

Always check that the builder collects payments in a RERA escrow bank account so your money is used only to build your project.

Step 3: Booking the Flat and Paying in Stages

Booking your home starts with paying a small token amount of 5% to 10% of the flat cost to get an official allotment letter. Under RERA laws, a builder cannot take more than 10% of the total flat price before signing and registering the official Agreement of Sale.

Down-Payment Plan: You pay 10% at booking, 80% within 30 to 45 days, and the remaining 10% when you get the keys.
Construction-Linked Plan (CLP): You pay in small parts (usually 10% at a time) as each building stage is finished on site.
Flexi Plan: You pay a small part at the start, nothing during middle construction, and the rest at the end.

A construction-linked plan is the safest choice because your bank releases money only after the site engineer finishes each floor.

Practical Example: Buying a Flat at The Prestige Place Hyderabad

Looking at a real project like The Prestige Place on Budvel Road, Rajendra Nagar, South Hyderabad shows how these steps work in practice. Built by Prestige Estates Projects Ltd across a 10-acre site, this community includes 1,050 flats across 3 towers of 32 floors each, alongside an on-site IT tech park and a luxury hotel.

Feature	Details
Land Size	10 Acres with 80% open green space
Towers & Floors	3 High Towers \| Ground + 32 Floors \| 1,050 Flats
Flat Sizes	2 BHK (1,200–1,450 sq ft), 3 BHK (1,600–2,100 sq ft), 4 BHK (2,350–3,000 sq ft)
Price Range	₹1.40 Cr to ₹3.50 Cr base price \| ₹5 to ₹6/sq ft upkeep fee (24-Mo Advance)
Project Timeline	Launch in Dec 2026 \| Handover Target by 31 Dec 2031 (60 Months)

If you buy a home in a project like The Prestige Place Hyderabad, here is how you follow the process:

Check Legal Approvals: Confirm the layout approval from the Hyderabad Metropolitan Development Authority (HMDA) and track the applied TS RERA status before signing your agreement.
Follow the 10-Stage Payment Plan: Pay 10% at booking, 10% at agreement signing, and split the remaining 80% into eight equal 10% stages as digging, basement, floor slabs, brickwork, and plumbing are completed.
Budget for Maintenance: Plan for the base price (₹1.40 Cr to ₹3.50 Cr) plus 24 months of advance maintenance at ₹5 to ₹6 per sq. ft. for community upkeep and security.
Check the Travel Routes: The project sits right on Budvel Road near the Outer Ring Road (ORR), giving easy road access to Gachibowli (12 km) and HITEC City (18 km), and sits 2.5 km from the upcoming Budvel Metro Station.

Step 4: Home Inspection, Registration, and Getting the Keys

Taking Possession starts with a complete walk-through of your new flat before you sign the final registration papers. You should make sure the builder has received the final Occupancy Certificate (OC) before you pay the last installment.

Possession Steps:

Inspect Civil Work: Look closely at tile joints, check if doors and windows latch smoothly, and make sure balcony floors slope toward drains.
Test Taps and Switches: Turn on all water taps to check pressure and test every plug point and electrical switchboard.
Use Your 5-Year Warranty: RERA rules require builders to fix any structural issues or bad artistry for free during your first 5 years of living there.

FAQs

1. What is the difference between carpet area and super built-up area?

Carpet area is the real, usable floor space inside your four walls where you can lay down a rug. Super built-up area adds that private space to your share of common areas like lift lobbies, staircases, corridors, and clubhouses.

2. How much extra money should I save for registration and taxes?

Keep an extra 7% to 12% above the base flat price ready in your bank account. This extra money pays for state stamp duty, official registration fees, 5% GST on new construction, and your advance society maintenance deposit.

3. Can a builder alter my flat layout without asking me?

No, the builder cannot change your flat layout without your written permission. Under RERA laws, the builder must also get written consent from at least two-thirds of all flat buyers before making any major changes to the whole building plan.

4. What key documents should I collect on possession day?

Make sure you take the original registered Sale Deed and the official Occupancy Certificate (OC) from the local city office. Also collect your signed possession letter, parking slot allotment paper, equipment warranty cards, and building fire safety approval copies.