Buying your first home in Bengaluru, step by step

Buying your first home feels big because it is. The good news: it is a series of small, sensible steps. Take them in order and nothing important gets missed.

Step 1: Know your real budget

Your budget is not just the price of the flat. It is the price plus GST (on under-construction homes), stamp duty, registration, and a few one-time charges such as legal fees and maintenance deposits. Then add a cushion for furniture and moving.

A simple rule many families use: keep all your EMIs together comfortably below half of your monthly take-home pay, so there is room left to live and save. Our down payment calculator and stamp duty calculator help you put numbers to this.

Step 2: Talk to a bank early

Before you fall in love with a home, find out how much a bank will lend you. They look at your income, your existing loans and your credit score. Try our eligibility calculator for a rough idea, then the EMI calculator to see the monthly payment. Buying as a couple? Our joint home loan guide shows how two incomes and two tax claims work.

Two words you will hear: sanction is the bank agreeing to a loan amount; disbursement is the bank actually paying it, usually to the builder in stages as the building rises.

Step 3: Choose the area before the flat

You can change your curtains; you cannot change your commute. Shortlist areas by your office trip, your children’s school and the hospital you trust. If you are looking south-east, our guides to Sarjapur–Attibele Road and S Medihalli are a good place to start.

Step 4: Check the project, properly

• RERA registration. Every eligible project must be registered with the state authority, K-RERA in Karnataka. Look up the number on the portal yourself.
• Carpet area. This is the usable area inside your walls. RERA says homes must be sold by carpet area, so compare on that figure.
• Written cost sheet. Ask for every charge on paper, with GST shown separately.
• The builder’s record. Visit something they have finished before.

Step 5: Visit, and visit again

Go once in daylight and once in the evening. Stand in the rooms. Check where the sunlight falls, whether air can move through, and how loud the road is. Bring the person who will cook in the kitchen; they will see things you will not.

Step 6: Book, sign and register

When you book, you pay a booking amount. Under RERA, a builder cannot take more than 10% of the cost as an advance before a registered agreement for sale is signed. Read the agreement slowly. Check the payment schedule, the specifications and what happens if either side is late. Then the agreement is registered and your loan starts to disburse.

Step 7: Handover

At possession, walk every room with a checklist: doors, windows, taps, switches, tiles and leaks. Note anything to fix, in writing. Collect your documents and keep them safe.

Keep learning

The Reeva blog covers each step in more depth, from GST to floor plans. And if you would like to see how a well-planned 2 or 3 BHK feels in person, The Shalott Marque is open for visits. Price on request.