From Booking to Possession: The Complete Apartment Buying Timeline

Buying an apartment, whether in Mumbai, Bangalore, or any other city—is a significant investment and an emotional journey. The entire process, from your first search to finally getting the keys, can take anywhere from 3 to 6 months, depending on factors such as loan approval, project stage, and documentation.

Here’s a complete timeline to guide you through each step of the homebuying process:

1. House Hunting and Selection

Timeframe: 2–4 weeks

Initial Search: Set your budget, preferred location (e.g., Mira Road, Andheri, or Whitefield), and flat type (1 BHK or 2 BHK). At this stage, researching property rates in Mira Road helps you evaluate affordability and compare it with other suburbs.

Shortlisting: Visit sites, compare floor plans, check RERA registration, and evaluate amenities.

Site Visit: Physically inspect shortlisted properties for layout, construction quality, and neighborhood.

2. Booking and Agreement

Timeframe: 1–2 weeks

Booking Application: Reserve your chosen flat by paying a booking amount (typically ₹50,000 to ₹1,00,000).

Agreement to Sale: Signed within 30 days of booking. It outlines the property details, price, payment plan, and possession date.

Document Checklist:

• Allotment Letter
• ID & Address Proofs
• PAN Card

3. Home Loan Application & Financing

Timeframe: 2–4 weeks

Loan Application: Submit income documents and builder papers to the bank.

Sanction & Disbursal: Once approved, the bank disburses funds based on the construction progress (as per the demand note).

TPA/PTM Letter Process: Completed between the builder and the bank for smooth disbursal.

4. Modifications & Construction Progress

Timeframe: Project-dependent (Ready-to-move or under-construction)

Modification Requests: You can request internal layout changes (if allowed) during early stages of construction.

Tracking Progress: Stay updated through site visits or builder updates. Monitor for delays.

5. Possession and Registration

Timeframe: Final stage (after project completion)

Possession Letter & Key Handover: Once construction is completed and the Occupancy Certificate (OC) is issued, you’ll receive the possession letter and keys.

Registration of Property: Sign the Sale Deed at the sub-registrar’s office. Pay stamp duty and registration charges as per your state law.

Want to Buy in Mira Road?

If you’re planning to purchase a 1 BHK or 2 BHK flat in Mira Road, understanding the property rates in Mira Road will help you make informed financial decisions. Prices vary depending on connectivity, builder reputation, and amenities offered. Compare rates between ready-to-move and under-construction projects to find the best value.

Final Checklist Before Moving In:

• No dues certificate from the builder
• OC and CC
• Interior condition of the flat
• Functioning utilities (water, electricity, gas)
• Society registration or handover details

Conclusion

Apartment buying isn’t just about choosing the right floor plan, it’s about timing, preparation, and knowing the steps. Whether you’re booking a 1 BHK flat in Mumbai or a 2 BHK in Mira Road, understanding this timeline, and the property rates in Mira Road, will help make your journey stress-free and successful.