STEPS INVOLVED IN PURCHASING A PROPERTY

• IDENTIFYING THE SPACE NEEDED
• IDENTIFYING THE BUDGETARY PROVISION TO BUY THE PROPERTY
• IDENTIFYING THE LOCATION OF INTEREST
• IDENTIFYING & SELECTING THE MEDIA SUCH AS REALTY BROKERS, NEWSPAPER ADVERTISEMENTS, ARTICLES, INTERNET, ETC FOR LOCATING DIFFERENT NEW AND OLD PROPERTIES
• IDENTIFYING DIFFERENT PROPERTIES OF INTEREST
• MAKING PRELIMINARY VISITS TO THE PROPERTIES OF INTEREST
• SHORTLISTING PROPERTIES DEPENDING UPON THE FOLLOWING FACTORS
• SELECTING A PROPERTY
• FINALISING THE PRICE AND THE TERMS AND CONDITIONS WITH THE DEVELOPERS
• MAKE NECESSARY PROVISIONS FOR THE PAYMENT
  A) PERSONAL CONTRIBUTION
  B) BANK CONTRIBUTION
• APPLY FOR THE SANCTIONING OF THE BANK LOAN
• OBTAIN SANCTION LETTER FROM THE BANK
• STAMPING AND REGISTRATION OF THE FLAT SALE AGREEMENT AGAINST THE INITIAL PAYMENT
• SUBMIT THE FLAT SALE AGREEMENT AND COMPLY WITH THE BANK CONDITIONS TO AVAIL OF THE BALANCE PAYMENT
• MAKE THE FULL AND FINAL PAYMENT TO THE DEVELOPERS AND OBTAIN THE POSSESSION LETTER
• TAKE POSSESSION OF FLAT
• ENROLLMENT AS MEMBER OF THE SOCIETY TO BE FORMED, SHARE CERTIFICATE