How to Buy an Apartment in Tamil Nadu

How to Buy an Apartment in Tamil Nadu – A Complete Guide

Tamil Nadu is one of the fastest-growing real estate markets in India, offering a wide range of apartments for homebuyers. Whether you are a first-time buyer or an investor, purchasing an apartment involves careful planning and understanding of the legal and financial aspects. In this guide, we will walk you through the entire process of buying an apartment in Tamil Nadu.

Step 1: Define Your Requirements

Before starting your apartment search, consider the following factors:

• Budget: Determine how much you can afford, including down payment and loan eligibility.

• Location: Choose a city or locality based on proximity to workplaces, schools, hospitals, and transportation.

• Apartment Size: Decide whether you need a 1BHK, 2BHK, or 3BHK based on your family size and future needs.

• Amenities: Look for facilities like parking, security, power backup, and recreational areas.

Step 2: Search for Apartments

You can search for apartments through:

• Real Estate Websites: Platforms like 90Days Property offer verified apartment listings across Tamil Nadu.

• Builders and Developers: Contact reputed builders for new apartment projects.

• Real Estate Agents: Local agents can help you find the right property based on your preferences.

• Newspaper Listings: Many developers and sellers advertise apartments in leading newspapers.

Step 3: Verify Legal Documents

Before finalizing a property, check these essential legal documents:

• Title Deed: Confirms the seller’s ownership and ensures no disputes.

• Encumbrance Certificate: Verifies that the property is free from legal dues or mortgages.

• Approval Certificates: Ensure the building plan is approved by local authorities like CMDA, DTCP, or Panchayat.

• RERA Registration: Check if the project is registered under Tamil Nadu RERA (TNRERA) for transparency.

• Sale Agreement: An agreement between buyer and seller outlining payment terms and conditions.

Step 4: Arrange for Home Loan (If Needed)

If you require financial assistance, apply for a home loan from leading banks or financial institutions:

• Check Your Loan Eligibility: Factors like income, credit score, and job stability impact eligibility.

• Compare Interest Rates: Different banks offer varying rates, so choose the best deal.

• Submit Documents: Identity proof, income proof, property documents, and loan application.

• Loan Disbursement: After verification, the bank will release funds to the seller.

Step 5: Finalize the Apartment and Register the Property

• Pay the Token Advance: Once you finalize the apartment, pay a token amount to reserve it.

• Sign the Sale Agreement: This legally binds both buyer and seller to the transaction.

• Property Registration: Register the apartment at the local Sub-Registrar’s office by paying stamp duty and registration charges.

• Obtain Possession Certificate: After registration, ensure you receive the possession certificate from the builder.

Step 6: Move into Your New Home

After registration, you can proceed with:

• Utility Connections: Apply for electricity, water, and gas connections.

• Interior Design & Furnishing: Set up interiors according to your taste.

• Society Membership: If the apartment is in a gated community, complete the membership formalities.

Conclusion

Buying an apartment in Tamil Nadu requires proper planning and legal verification. Platforms like 90Days Property help homebuyers find the best apartments with verified listings and expert guidance. Follow this step-by-step process to make an informed decision and enjoy a hassle-free home-buying experience.

Looking for the perfect apartment? Visit 90Days Property today!