Resources

Real Estate Resources

Everything you need to navigate buying, renting, and selling property in India — written in plain language, without the jargon.

Buyer's Guide

Buying a property is one of the biggest financial decisions you will make. This guide walks you through every step — from shortlisting to getting the keys.

Step 1 — Define your requirements

Decide the city, locality, and budget range
Choose between ready-to-move and under-construction
List must-haves: BHK configuration, floor preference, amenities
Factor in proximity to workplace, schools, and hospitals

Step 2 — Research and shortlist

Browse verified listings on OneSpaces
Compare prices across similar localities
Check the seller's track record and RERA registration
3–5 properties for site visits is a good shortlist size

Step 3 — Site visit checklist

Inspect construction quality, natural light, and ventilation
Verify actual carpet area vs advertised super built-up area
Check common areas, parking, and security infrastructure
Ask about maintenance charges and society dues

Step 4 — Home loan

Get a pre-approval letter from your bank before negotiating — it strengthens your position significantly.

Compare interest rates across banks and HFCs
Loan amount is typically 75–90% of the property value
Keep your credit score above 750 for the best rates
Factor in processing fees, insurance, and legal charges

Step 5 — Agreement and registration

Sign a token/booking amount receipt
Execute the Agreement to Sale and pay 10–20% as advance
Complete the Sale Deed and pay stamp duty + registration charges
Collect all original documents and obtain possession certificate

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Renter's Guide

Renting in India has its own set of rules. Know your rights and obligations before signing anything.

Finding the right flat

Use OneSpaces filters: locality, BHK, rent range, furnishing status
Factor in hidden costs — maintenance, electricity, parking, brokerage
Prefer verified listings directly from owners to avoid brokerage fees
Visit at different times of day to gauge noise, light, and traffic

The lease agreement

Always insist on a written and registered rental agreement. Verbal agreements offer no legal protection.

Standard lease tenure is 11 months (avoids mandatory registration)
Longer tenures (12+ months) must be registered with the sub-registrar
Security deposit is typically 2–6 months' rent
Specify who bears maintenance, repair costs, and society dues
Include an exit/notice clause — usually 1–2 months

Security deposit

Obtain a signed receipt for the deposit
Document the property condition with photos/video on move-in day
Deposit must be returned within 30 days of vacating, minus legitimate deductions

Tenant rights

Landlord cannot enter without prior notice except in emergencies
Rent increases require notice and must comply with the lease terms
Essential utilities (water, electricity) cannot be cut off arbitrarily
Eviction requires legal due process — self-help evictions are illegal

Seller's Guide

Listing your property correctly — with accurate details, good photos, and the right price — cuts time-on-market significantly.

Pricing your property

Research recent transactions in the same building and locality
Account for floor, view, and condition premium or discount
Avoid over-pricing — it chills interest; price at market and negotiate
Check the ready-reckoner rate for stamp duty implications

Preparing your listing

Upload at least 8 high-resolution photos (wide-angle, natural light)
Include a floor plan and carpet area measurement
Be transparent about maintenance charges, parking, and society dues
Highlight proximity to transit, schools, and hospitals

Listing on OneSpaces

OneSpaces offers 0% brokerage on eligible listings for verified sellers.

Register as a seller and complete KYC verification
Post your property with all mandatory fields filled in
Respond to buyer inquiries promptly — fast responses increase conversion
Update availability status immediately once sold or rented

Closing the deal

Negotiate transparently; hidden fees create distrust and kill deals
Use a registered agreement to sale to secure the advance
Coordinate with the buyer's bank for loan NOC if the property is mortgaged
Execute the sale deed and hand over all original documents

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Property Types Explained

India's real estate market spans a wide spectrum of property types, each with different legal structures, pricing conventions, and ownership considerations.

Flat / Apartment

A self-contained unit in a multi-storey residential building. Typically sold on a super built-up area basis that includes a proportionate share of common areas.

Carpet area is 70–80% of super built-up area
Society or maintenance charges apply
RERA registration mandatory for new projects above 500 sq.m or 8 units

Villa / Row House

An independent or semi-independent dwelling, usually in a gated community with shared amenities like a clubhouse, pool, and security.

Priced per sq.ft on built-up or plot area
Higher maintenance; landscaping and external walls are the owner's responsibility
Check if the community is managed by a developer or residents' association

Independent House

A standalone house on a freehold plot. The owner has full control over the structure, subject to local zoning and building regulations.

Clear land title is critical — obtain an encumbrance certificate
Floor space index (FSI) determines how much you can build
Ideal for those wanting rental income from additional floors

Plot / Land

An undeveloped or cleared plot of land for residential or commercial construction. Returns can be high but liquidity is lower than built-up property.

Verify land use classification (residential, agricultural, commercial)
Check 7/12 extract and property card for ownership history
NA (Non-Agricultural) conversion is required before construction

Commercial — Office / Retail

Offices, shops, and commercial spaces. Typically generate higher rental yields than residential but have higher GST implications.

GST at 18% applies on new commercial property purchases
Lease agreements are typically 3–9 years with lock-in periods
Check permissible use in the building's occupancy certificate

Legal & Documentation

Title disputes and document gaps are the biggest source of real estate litigation in India. Complete this due diligence before paying any advance.

Documents to verify before buying

Title deed / Sale deed — confirms ownership chain for the past 30 years
Encumbrance certificate (EC) — confirms the property is free of loans and claims
Property tax receipts — must be up to date
Approved building plan — confirms the structure is legally sanctioned
Occupancy certificate (OC) — issued by municipal authority on completion
Completion certificate (CC) — confirms the building meets the approved plan
RERA registration number — mandatory for new projects; verify on the state portal
NOCs from society, water board, electricity board where applicable

Key documents in the transaction

Agreement to Sale — binds both parties; advance is paid here
Sale Deed — primary legal document transferring ownership; must be registered
Stamp duty — typically 5–7% of property value depending on state
Registration charges — 1% of property value, subject to state limits
Index II — certified extract of the registered sale deed
Possession letter and share certificate for co-operative housing societies

RERA — what it means for you

The Real Estate (Regulation and Development) Act, 2016 mandates that all new residential projects above 500 sq.m or 8 units be registered with the state RERA authority before being marketed or sold.

Check the project's RERA registration on the state portal before booking
70% of collections must be kept in a dedicated escrow account by developers
Delays entitle buyers to interest at SBI's MCLR + 2%
File complaints on the RERA portal — faster and cheaper than civil courts

Note

This checklist is for informational purposes only and does not constitute legal advice. Always consult a qualified property lawyer before executing any transaction.

Glossary

A quick reference for common real estate terms used in India.

Carpet Area

The actual usable floor area within the walls of your unit, excluding balconies and common areas. Defined by RERA.

Built-up Area

Carpet area plus the thickness of walls and balcony or terrace area.

Super Built-up Area

Built-up area plus the proportionate share of common areas (lobbies, lifts, staircases). The basis for most apartment pricing.

Stamp Duty

A state government tax on property transactions, typically 5–7% of the agreement value or ready-reckoner value, whichever is higher.

Encumbrance Certificate (EC)

A document from the sub-registrar confirming that the property has no pending loans, legal dues, or charges.

Ready Reckoner Rate

The minimum market value published by the government for stamp duty calculation. Also called the circle rate or guidance value.

RERA

Real Estate Regulatory Authority. Each state has its own RERA portal; all new projects must be registered before launch.

OC (Occupancy Certificate)

Issued by the municipal authority certifying that the building is safe to occupy and was constructed as per the approved plan.

NOC

No-Objection Certificate. Required from various authorities (society, bank, electricity board) during certain transactions.

Possession Date

The date on which the developer hands over physical possession of the unit to the buyer.

Agreement to Sale

A preliminary contract that records the terms of the transaction and is executed before the final sale deed.

Sale Deed

The primary legal document that transfers ownership from seller to buyer. Must be registered at the sub-registrar's office.

Undivided Share (UDS)

The portion of the total land area proportionally assigned to each flat owner in a multi-storey building.

Index II

A certified extract issued by the registration office that summarises the details of a registered document (sale deed, mortgage, etc.).

Home Loan LTV

Loan-to-Value ratio. Banks typically lend 75–90% of the property value; the remainder is the buyer's down payment.