Pratham Enterprise

From Site Visit to Possession: What Really Happens Behind the Scenes!

Welcome t7 key stages in the Indian real estate journey, from site visit to possession, ideal for a website or buyer’s guide:o WordPress. This is your first post. Edit or delete it, then start writing!

1. Site Visit

What Buyers Experience: The journey of buying home is generally starts with a site visit, where potential buyers evaluate the property first time. Guided by a sales executive, they identify the location advantage, connectivity, nearby infrastructure, facilities& amenities, and the overall structure of the project. If all found well then go ahead with that particular projects or property.

Behind the scenes: The sales team of builder or contractor contact with potential buyer and show them properties and benefits like nearly by petrol pump, railway station, schools, hospitals, hotels, shops and commercial area with amenities and location advantages.

2. Booking & Token Amount

What Buyers Experience: Once convinced, the buyer pays a token amount—typically around 10% of the property value or as per condition of contractor or builder—to reserve the unit. This step marks the beginning of a formal commitment.

Behind the Scenes: The unit is marked as “booked” in the developer’s inventory system. Basic KYC (Know Your Customer) checks are conducted, and a booking form is issued in compliance with RERA guidelines. This form outlines the terms and conditions of the booking, ensuring transparency.

3. Agreement to Sale

What Buyers Experience: The buyer signs the Agreement to Sale, a legally binding document that outlines the terms of the transaction. A portion of the property value is paid at this stage.

Behind the Scenes: The legal team drafts the agreement, ensuring it complies with RERA regulations. Stamp duty (around 4.9% in most states) and registration charges (typically 1%) are calculated. If the buyer is opting for a home loan, the process is initiated here.

4. Loan Sanction & Disbursement

What Buyers Experience: Buyers submit necessary documents to their bank or financial institution for loan approval. This includes income proof, identity documents, and property details., this will starts legal procedure for buying home.

Behind the Scenes: The bank conducts a thorough verification of the buyer’s financial standing and the property’s legal status. Once approved, the loan amount is disbursed in stages, aligned with the construction progress. Developers coordinate closely with banks to ensure timely payments.

5. Construction & Updates

What Buyers Experience: During the construction phase, buyers receive regular updates via email, SMS, or mobile apps. These updates include progress photos, milestone achievements, and estimated completion timelines, If construction is ready to move then customer will get possession at that time.

Behind the Scenes: Developers follow approved layouts and timelines. RERA mandates that 70% of the funds collected from buyers be kept in an escrow account and used only for construction and land costs. Local authorities conduct periodic inspections to ensure compliance with safety and quality standards.

6. Final Payment & Registration

What Buyers Experience: As the project nears completion, buyers are asked to make the final payment. Once done, the property is registered in the buyer’s name at the local sub-registrar office.

Behind the Scenes: The registration process involves submitting ID proofs, photographs, and the signed agreement. The developer ensures all dues are cleared and assists in updating ownership records with municipal authorities. This step legally transfers ownership to the buyer.

7. Possession & Handover

What Buyers Experience: The most awaited moment—buyers receive the keys and a possession letter. They can now move into their new home or begin interior work, This is last but not least step because after sale services and customer service roles starts from here only.

Behind the Scenes: Before handover, the developer conducts a final inspection to resolve any issues (snag list). Utility connections like electricity, water, and gas are activated. If applicable, the process of forming a resident welfare association or society begins, and maintenance responsibilities are handed over.