The First-Home Buyer's Checklist for Sarjapur Road

Buying your first home can feel like a hundred decisions at once. This checklist puts them in order, so you never skip a step or pay before you should. Print it, tick it, and take it to every site visit.

Step 1: Know your real budget

• Check your loan eligibility with two or three banks.
• Plan your down payment: 10–25% of the value, depending on the loan size, under RBI rules.
• Add stamp duty and registration, GST if under construction, interiors and a maintenance deposit.
• Keep six months of EMIs aside as a safety net.

Worked example (illustrative)

Round numbers only, to show the method. Not a Reeva price.

Say you like a home valued at ₹64 lakh and plan a loan of ₹51.2 lakh (80%).

• Down payment, 20%: ₹12,80,000.
• GST at 5% if under construction: ₹3,20,000 (₹1,60,000 CGST + ₹1,60,000 SGST).
• Stamp duty and registration: confirm Karnataka's current rates. At an assumed 7% for illustration, ₹4,48,000.
• Basic interiors and moving: say ₹2,00,000.
• Six months of EMI as a buffer: at 8.5% for 20 years, the EMI on ₹51.2 lakh is about ₹44,433, so six months is about ₹2,66,600.
• Total to plan for: about ₹25,14,600, of which the buffer stays in your account.

The RBI's limits are set by loan size: up to 90% of value for loans up to ₹30 lakh, 80% for loans above ₹30 lakh and up to ₹75 lakh, and 75% above that. Use those to work out your minimum down payment.

Step 2: Pick the right stretch of the road

Sarjapur Road is long. The part closer to the Outer Ring Road is busier and more established; the stretch towards Sarjapur town and Attibele is quieter and still growing. Map your office, your child's school and a hospital, then shortlist the stretch that keeps those trips short.

• Time the drive or cab ride at 9 am and 6 pm on a weekday.
• Note the nearest pharmacy, grocery and bank branch.
• Ask local residents how the roads hold up in the monsoon.

Step 3: Shortlist projects

• RERA registration number, checked on the Karnataka RERA website.
• The builder's completed projects. Visit at least one.
• Carpet area of each unit.
• Water source, STP, power backup and parking.
• Number of homes per floor and per lift.
• Monthly maintenance estimate and how it is calculated.

A simple comparison sheet

For each project, write down the same six things: total cost including taxes, carpet area, cost per sq ft of carpet area, promised completion date on RERA, monthly maintenance estimate, and commute time. Dividing the total by carpet area keeps the comparison fair. For example, ₹64 lakh over 1,000 sq ft of carpet area is ₹6,400 per sq ft, while ₹60 lakh over 900 sq ft is about ₹6,667. The cheaper flat is not always the better value.

Step 4: The legal papers

Ask a property lawyer to check these. It is a small fee for a large purchase.

• Title deed and the chain of earlier owners.
• Encumbrance Certificate (EC), which shows whether the land has any loan or claim on it.
• Land conversion order for residential use, and the approved building plan.
• Khata, the local property record.
• For a ready flat, the Occupancy Certificate.

Ask your lawyer to cover at least 30 years in the title search where possible, and to read the draft agreement for sale before you sign anything.

Step 5: Booking and agreement

• Pay no more than 10% before a registered agreement for sale (RERA Section 13).
• Read the delay, cancellation and specification clauses.
• Make every payment by bank transfer and keep receipts.
• Check that the payment plan matches construction stages, not just dates.
• Confirm parking, if allotted, is written into the agreement.

On the ₹64 lakh example, 10% is ₹6,40,000. Anything beyond that before registration is a red flag.

Step 6: Loan and registration

• Choose a bank that has already approved the project; it makes the process faster.
• Register the sale deed at the sub-registrar's office.
• If the price is ₹50 lakh or more, deduct 1% TDS under Section 194-IA and file the challan-cum-statement. On ₹64 lakh, that is ₹64,000.
• Keep certified copies of every registered document.

Step 7: Handover

• Inspect every room, tap and switch before signing the possession letter.
• Note defects in writing. The builder must fix structural and workmanship defects reported within five years (RERA Section 14(3)).
• Take meter readings and photos on the day.
• Collect warranty cards for fittings and appliances.

Step 8: After you move in

• Apply for the khata in your name with the local body, using the registered deed.
• Pay property tax in your name and keep every receipt.
• Transfer electricity and water accounts into your name.
• Join the residents' association and attend the first meetings. Early decisions on maintenance and vendors affect everyone.
• Keep the snag list open until every item is fixed, and record the date each was closed.
• Store your sale deed, agreement, receipts, loan papers and warranties in one place, with digital copies.

Questions to ask on every site visit

1. What is the RERA number, and what completion date is declared on it?
2. What is the carpet area of this exact unit?
3. What is included in the price, and what is charged separately?
4. What is the payment plan, stage by stage?
5. Which banks have approved the project?
6. What is the expected monthly maintenance, and from when?
7. Can I see a completed project of yours and speak to residents?

Write the answers down for each project. Comparing on paper is calmer than comparing from memory.

Who does what: a quick map

• You: set the budget, choose the home, read the agreement, deduct TDS, inspect at handover.
• Your lawyer: checks title, approvals and the agreement for sale, and flags risky clauses.
• Your bank: checks the property as security, sanctions the loan and releases payments in stages.
• The builder: registers the project on RERA, files quarterly updates, delivers as per the agreement and fixes defects.
• The sub-registrar: registers the agreement and sale deed, and issues the encumbrance certificate.
• The local body: assesses property tax and records the khata.

Knowing who is responsible for each step tells you exactly whom to ask when something stalls.

Keep one notebook or shared document for the whole purchase. Note every call, visit, payment and promise with a date. It takes minutes a week and saves hours of searching later.

Common mistakes to avoid

• Falling for a site visit offer and booking the same day. Sleep on it, and read the papers first.
• Comparing "super built-up" with "carpet". Always compare carpet area.
• Paying in cash for any part of the deal. It leaves no trail and can create tax trouble.
• Forgetting TDS. The buyer is responsible for deducting it, and missing it leads to interest and penalties.
• Not checking the RERA completion date against what the sales team says.
• Spending the buffer on interiors. Furnish slowly. Keep the six months of EMIs untouched.

The checklist on one screen

1. Budget written line by line, with a buffer.
2. Stretch of road chosen by commute and school.
3. Three to five projects compared on carpet area cost.
4. RERA number verified.
5. Lawyer's title report in hand.
6. Booking capped at 10% before a registered agreement.
7. TDS deducted if due.
8. Snag list signed off at handover.

Want this explained in more depth? Read our full first home guide.