How to Buy a House in Tamil Nadu: A Complete Guide

Buying a house in Tamil Nadu is a significant investment that requires careful planning and research. Whether you are looking for a property in Chennai, Coimbatore, Madurai, or any other city, understanding the process can help you make an informed decision. This guide will walk you through the key steps involved in purchasing a house in Tamil Nadu, along with important legal and financial aspects.

Step 1: Determine Your Budget

Before starting your house search, evaluate your financial position. Consider the following factors:

• Property Price: Compare property rates in different cities and localities.

• Home Loan Eligibility: Check your loan eligibility with banks and financial institutions.

• Additional Costs: Factor in registration charges, stamp duty, legal fees, and maintenance costs.

Step 2: Choose the Right Location

Tamil Nadu offers diverse real estate options. Some popular cities for buying a house include:

• Chennai: IT hub with excellent infrastructure.

• Coimbatore: Known for its peaceful environment and industrial growth.

• Madurai: A historical city with affordable housing options.

• Trichy & Salem: Rapidly developing cities with promising real estate opportunities.

When selecting a location, consider:

• Proximity to schools, hospitals, and transport facilities.

• Safety and community infrastructure.

• Future appreciation potential of the area.

Step 3: Search for Properties

You can search for properties through:

• Real Estate Portals: Websites like 90Days Property, MagicBricks, and Housing.com.

• Real Estate Agents: Hiring a trusted agent for local insights.

• Newspaper Listings: Traditional classified ads for property sales.

• Direct Builders & Developers: Purchasing directly from reputed builders.

Step 4: Verify Legal Documents

Before finalizing a property, ensure all legal aspects are in place:

• Title Deed: Confirms the ownership of the seller.

• Encumbrance Certificate: Ensures the property is free from legal dues.

• Patta & Chitta: Land ownership documents in Tamil Nadu.

• Building Plan Approval: Check if the house has proper approvals.

• RERA Registration: Verify if the builder is registered under Tamil Nadu RERA.

Step 5: Apply for a Home Loan (If Required)

If you need financial assistance, apply for a home loan from banks or NBFCs like:

• SBI Home Loan

• HDFC Housing Loan

• LIC Housing Finance

• ICICI Bank Home Loan

Documents required for a home loan:

• Identity and address proof.

• Salary slips or income proof.

• Property documents for verification.

Step 6: Pay the Token Advance & Sign Agreement

Once you finalize the house, pay a token advance to confirm your interest. Then, sign the Sale Agreement which includes:

• Buyer and seller details.

• Agreed property price.

• Payment schedule and possession date.

• Terms & conditions of the sale.

Step 7: Register the Property

To complete the ownership transfer, register the house at the Sub-Registrar Office in the property’s jurisdiction.

Registration Costs:

• Stamp Duty: 7% of the property value.

• Registration Charges: 1% of the property value.

Step 8: Take Possession & Apply for Utility Services

After registration, take possession of your new house. Apply for essential services like:

• Electricity and water connection.

• Property tax registration.

• Address change in official documents.

Conclusion

Buying a house in Tamil Nadu can be an easy process if you follow the right steps. Whether you’re a first-time homebuyer or an investor, always conduct thorough research, verify legal documents, and work with trusted real estate platforms like 90Days Property to find the best deals.