Complete Property Buying Guide — India

Understanding the India Property Market

The property market in India offers diverse opportunities across its key markets. Mumbai, Delhi NCR, Bangalore, Hyderabad, Chennai, Pune, and Kolkata represent the main buying hotspots, with prices and demand varying significantly between regions.

The Reserve Bank of India sets the benchmark interest rate, which influences mortgage pricing across all lenders. Use our mortgage calculator to estimate repayments based on current rates.

Property Prices and Key Markets

Typical prices in India range from ₹30,00,000 for apartments in tier-2 cities to ₹2,00,00,000+ in Mumbai and premium Delhi locations.

India’s Real Estate Regulatory Authority (RERA) introduced in 2016 fundamentally changed the market by requiring all projects above a certain size to be registered, with escrow accounts for buyer funds and penalties for delays. Each state has its own RERA portal where buyers can verify project registration and developer track record

Setting Your Budget

Beyond the purchase price, you need to budget for transaction costs that typically add 7-12% including stamp duty, registration fees, GST (for under-construction), legal fees, and brokerage (1-2%) to the total. Your deposit requirement is 10-25%, though this varies by lender and your buyer profile.

Stamp duty ranges from 3% to 8% depending on the state — Maharashtra charges 5% (6% in Mumbai), Karnataka 5%, Delhi 4-6%, and Tamil Nadu 7%. Registration charges add 1% in most states

Read our buying costs guide for a detailed breakdown of all purchase-related expenses.

Getting Finance Approved

Mortgage terms in India extend up to 30 years, with 15-20 year terms most common. Lenders typically offer up to 90% for loans under ₹30 lakh, 80% for loans between ₹30-75 lakh, and 75% for loans above ₹75 lakh (as per RBI guidelines) loan-to-value, meaning you need at least the remainder as a deposit.

Compare rates across major lenders including State Bank of India (largest), HDFC Bank, ICICI Bank, Bank of Baroda, LIC Housing Finance, PNB Housing, and Bajaj Housing Finance. Our mortgage types guide explains the differences between available loan products.

Finding and Securing Property

Working with a qualified property dealer or real estate broker (registered under RERA) is the standard approach in India. Research local areas thoroughly, attend viewings, and consider factors like transport links, amenities, and future development plans.

Legal Process and Due Diligence

Property transfers in India require a qualified property lawyer or advocate to handle the legal process. The buyer verifies the title through a lawyer, checking encumbrance certificates, khata, and property tax records. For under-construction properties, the developer must be RERA-registered. The sale deed is executed on stamp paper at the Sub-Registrar’s Office. Buyers should verify the complete chain of ownership documents and ensure there are no pending litigation or municipal dues.

For under-construction properties, verify RERA registration, occupancy certificate status, and CERSAI charges. For resale, obtain an encumbrance certificate for at least 30 years and verify property tax clearance. Physical inspection should check for structural integrity, water supply, and legal compliance

See our property inspection checklist for what to check before committing.

Government Support for Buyers

Pradhan Mantri Awas Yojana (PMAY) provides interest subsidy on home loans for economically weaker sections and lower-income groups — up to ₹2.67 lakh subsidy on loans. Section 80C allows tax deduction up to ₹1.5 lakh on principal repayment. Section 24(b) provides deduction up to ₹2 lakh on home loan interest for self-occupied property. First-time buyers get additional deduction under Section 80EEA

Check our government grants guide for the latest programmes and eligibility criteria.

Next Steps

Use our mortgage calculator to model different scenarios, browse India FAQs for quick answers, or read our complete mortgage guide for detailed information on rates and lenders.