How to Buy a New Flat: Questions First-Time Buyers Ask
Updated 26 October 2026
Buying a new flat follows the same steps almost everywhere in India: shortlist, check the project, book, sign the agreement, pay in stages and take possession. These are the questions buyers ask most along the way, with short answers.
Should I buy a ready-to-move or an under-construction flat?
A ready-to-move flat costs more per sq.ft, but you can see the finished home, move in at once and pay no GST. An under-construction flat is usually cheaper and lets you pay in stages, but carries the risk of delay and attracts GST. Check the completion date on the RERA registration before choosing.
What are the steps to buy a new flat?
Shortlist projects, check each one’s RERA registration, visit the site, take the price sheet in writing, pay a booking amount, sign and register the agreement for sale, pay as construction progresses, then inspect the flat, take possession and register the sale deed.
How much booking amount can a builder take?
Under the RERA Act (section 13) a builder cannot take more than 10% of the price before signing a registered agreement for sale. Pay by cheque or bank transfer and get a receipt.
What is a construction-linked payment plan?
You pay in instalments as stages are completed, such as the foundation, each slab and the finishing. It is the most common plan for under-construction projects and protects you if work slows down.
How do I compare two projects?
Compare carpet area (not super built-up area), the price per sq.ft of carpet area, the possession date on the RERA record, the developer’s track record and the total cost including all charges. Putting two or three projects side by side, as our compare page does, makes the differences obvious.
Is it safe to buy directly from the builder without a broker?
Yes, as long as you check the RERA registration yourself and get every promise written into the agreement. Buying direct also saves the broker’s commission.
What is a pre-launch or new-launch project?
A project sold before or just after construction starts, usually at a lower price. Buy only once it appears on the state RERA website, since advertising and selling before registration is not allowed.
How much salary do I need to buy a ₹50 lakh flat?
Banks usually keep all your EMIs within 40–60% of take-home pay. With a ₹10 lakh down payment, a ₹40 lakh loan over 20 years at 8.5% is an EMI of about ₹34,700, so a take-home pay of roughly ₹70,000–85,000 a month, before other loans. Ask your bank for an exact eligibility figure.
Can I buy a flat with a ₹10 lakh down payment?
Often yes, for a flat of up to about ₹50 lakh, since banks lend 75–90% of the value depending on the loan size. Remember that stamp duty, registration and the builder’s extra charges are usually paid on top and not covered by the loan.
Should I buy a flat or an independent house?
A flat costs less to buy and maintain and comes with security, lifts and shared amenities. An independent house or bungalow gives you land, privacy and freedom to extend, but costs more and you handle all upkeep. Compare the total cost over the years you plan to stay.
This guide is general information, not legal or financial advice. Rules and charges change; confirm them with the official source or a professional before you commit.