The possession process for a home buyer typically involves the transfer of ownership of the property from the seller to the buyer, including the physical possession of the property.

Here are the steps involved in the possession process for a home buyer:

Final Completion of Property

The developer informs the homebuyer about the last phase of the construction, during this stage, the buyer makes a payment that covers the final completion. The buyer is required to make payment for the completion costs along with any other fees or expenses linked to the property purchase.

Documentation and Sale Deed

Afterwards, the buyer should be prepared to sign all essential documents, such as the closure statement and mortgage paperwork. During this process, the Developer (Seller) arranges all the required legal documents to transfer the property ownership to the buyer, which involves providing the Sale Deed and filing other necessary paperwork.

Getting the Sale Deed verified by government officials

To officially transfer ownership from the seller to the buyer, the Sale Deed is physically submitted and verified by a lawyer and district magistrate at the legal authority office.

Preparing for Possession

Depending on the terms of the purchase agreement, the buyer may take possession of the property either on the closing date or at a later mutually agreed-upon date. This will be the moment when you can begin preparing for the official ownership of your dream home, and the Seller will inform you of the date when you can take physical possession of the property after you have received the Sale Deed.

Move-In

After purchasing the property, the buyer has the option to either move in and make it their primary residence or use it as an investment property. For many individuals, stepping into a new residence signifies a new beginning in life. In India, people generally prefer to follow shubh muhurats or auspicious timings when buying a property or shifting to a new house. It is believed that performing a griha pravesh ceremony, which is a housewarming ritual conducted on a fortunate day, can bring good fortune.