| You have the home loan sanction letter in your | | | | the receipt for payment of your own funding.iii) |
| hand and have chosen your desired house. You | | | | Collection of documents from the Registrar |
| have paid an advance amount on the same. Now, | | | | After 2-3 days, you will receive all the registered |
| what do you have to do after this to complete | | | | documents from the Registrar/ Builder.iv) Submit |
| the house buying process?i) Payment of the | | | | documents to bank requesting them to make the |
| balance amount of own funding | | | | payment to the Builder. |
| Let us imagine your house is of the value of Rs | | | | After you have got the documents, submit it to |
| 5,000,000. You have paid Rs 50,000 as advance | | | | the banker and request them to make payment |
| and the bank has agreed to pay 80% of the | | | | to the builder. Once this is done, you can get the |
| value. Now, your own funding will amount to the | | | | possession of the house. In case, any other date |
| balance 20%, i.e. Rs 1,000,000. Since you have | | | | is listed in the document as the date of |
| already paid Rs 50,000 you have to pay the | | | | possession, then you can take possession only on |
| balance Rs.950,000 now. Pay this and procure | | | | that other date so mentioned. |
| receipt for the same.ii) Registration | | | | Buying a house involves various intricacies and it is |
| Next, you need to register the house at the | | | | vital you understand them at each stage to make |
| Registrar Office in your name. You will have to | | | | sure no one cheats you. |
| submit your photograph, the sanction letter and | | | | |