Frequently Asked Questions

To buy a property in India, you'll need: Valid ID proof, address proof, income proof, PAN card, passport, bank statements, and the property's ownership documents. Your bank will provide a detailed checklist during the loan application process.

Property registration typically takes 15-30 days after all documents are submitted and verified. This includes document scrutiny, payment of stamp duty and registration fees, and issuance of the registered deed. The timeline may vary depending on local municipal office processes.

Stamp duty varies by state and city, typically ranging from 2% to 7% of the property's registered value. States like Maharashtra charge around 5%, while others may have different rates. It's advisable to check with your local government office for exact percentages.

Most banks offer home loans up to 80-90% of the property value (LTV ratio). This depends on your credit score, income, employment status, and the property's location. A higher credit score and stable income increase your chances of getting a higher LTV ratio.

Beyond the property price, budget for: stamp duty (2-7%), registration fees (0.5-1%), loan processing fees (0.5-1%), legal fees (1-2%), and annual property taxes. After purchase, plan for maintenance, insurance, and homeowners association fees if applicable.