Ready-to-Move Property: Tax and Possession Checklist
A ready-property closing checklist covering title, occupancy approval, GST timing, stamp duty, registration, dues and possession.
The objective is to convert a high-value property decision into a record that can be independently checked before payment, possession or dispute.
For related guidance and tools, visit the Investing, Loans and Personal Finance — Complete Decision Hub.
Confirm the seller’s legal right to sell before anything else - title, authority to act, any charge or mortgage, and the approvals the sale actually depends on.
For the connected rule or filing step, see Encumbrance Certificate: What It Shows and What It May Not Show.
GST timing hinges on one date: if the builder receives the full price only after the completion certificate or first occupation, the sale is treated as a completed-property sale, not a construction service - so GST generally does not apply to that consideration.
For the connected rule or filing step, see Immovable Property Possession.
Stamp duty, registration value and local charges are State-specific.
Possession should record keys, meters, fixtures, dues and condition.
What the buyer should understand
- Verify title, authority, encumbrances, approvals and right to convey.
- Where the entire consideration is received after completion certificate or first occupation, construction-service GST generally does not apply.
- Stamp duty, registration value and local charges are State-specific.
- Possession should record keys, meters, fixtures, dues and condition.
- Occupancy approval does not replace sale-deed registration, mutation or utility updates.
The five-point review
| Check | What to examine |
|---|---|
| Project or property | Exact phase, unit, seller/promoter and authority. |
| Legal record | Title, RERA, approval, agreement or tenancy record. |
| Money | Price, taxes, demands, loan and payment trail. |
| Physical status | Construction, possession, defects, utilities or occupancy. |
| Remedy | Correction, possession, refund, compensation or escalation. |
Practical example
A builder has an occupancy certificate but requests part of the price in cash and promises registration at a lower value.
How to apply the framework
Fix the project, phase, unit and legal actor
Identify the promoter or seller, exact registered project phase, unit, competent authority, lender and payee. Similar project names, sister companies and neighbouring phases are common sources of error. A document for another tower or phase does not validate the buyer's unit.
Reconcile public records with the contract
Compare the relevant State RERA portal, sanctioned plans, local approvals, agreement, payment schedule, tax invoices, lender records and possession documents. Save the versions relied upon. RERA registration is an important transparency control, but it is not a title certificate and does not replace independent legal, engineering, tax or valuation work.
Keep every payment and representation traceable
Pay through banking channels to the correct legal entity, obtain receipts and maintain a cumulative payment ledger. Preserve brochures, emails, messages, demand letters and written promises. Do not rely on a broker or relationship manager to reconstruct the transaction after personnel change or dispute.
Apply current tax and lending forms
Current-law status: for transactions up to 31 March 2026, property TDS under the Income-tax Act, 1961 uses the Form 26QB process; for transactions from 1 April 2026, the Income-tax Act, 2025 governs and the equivalent filing is Form 141 Schedule B - do not copy the legacy 26QB process into a post-1-April-2026 closing. Construction-service GST is governed by the CGST Act, 2017 (stable, not affected by the income-tax Act change). For home-loan insurance, the actual issued policy wording and schedule—not the sales pitch—control cover and claims.
Choose the remedy only after defining the objective
Possession, refund, interest, compensation, cancellation, loan restructuring and project completion can require different evidence and forums. RERA procedure, stamp duty, registration, tenancy, approvals and local property law vary by State and authority. Insolvency and lender security can also affect recovery. Obtain qualified advice before parallel or irreversible proceedings.
Implementation checkpoint
Before treating a milestone as complete, verify the live outcome: registered agreement, credited payment, accepted TDS statement, lender disbursement, revised amortisation, valid occupancy or completion approval, documented possession, repaired defect, society handover or registered complaint. Record the acknowledgement number, date, next deadline and unresolved mismatch.
Action checklist
- Download current official records.
- Match records with the agreement.
- Verify every payment and payee.
- Preserve photographs and communications.
- Define the exact relief or decision.
- Obtain State-specific legal and technical review.
Evidence to keep
- RERA/title/approval records
- Agreement, allotment and schedules
- Demand, invoice and payment trail
- Photographs, inspections and communications
- Complaint, handover or settlement acknowledgements
Warning signs
- Cash or personal-account demand
- Brochure conflicts with contract
- Approval cannot be verified
- Verbal-only promise
- One phase or unit confused with another
Finin2min takeaway
In property, the strongest protection is a consistent trail from public approval to contract, payment, construction, loan and possession.
Frequently Asked Questions
Source and review trail
Use the current official instrument, portal or regulator publication before acting. This panel separates the category authority from page-specific references.
- Primary category
- Property, Real Estate & RERA
- Official starting point
- mohua.gov.in