Stage 5 of 6: Booking — Money moves and the deal becomes a document.
Stage 5 of 6
Booking
Money moves and the deal becomes a document.
Booking turns a decision into a legal relationship: a token, an allotment, an agreement for sale, and a loan that starts disbursing. Everything here is about getting paper in exchange for money — a receipt for every rupee, an allotment letter that names the unit and the price break-up, and a registered agreement before large sums leave your account.
How long this usually takes
Commonly 30–60 days from token to a registered agreement and first disbursement, but it depends entirely on your lender's legal and technical clearance and on the developer's paperwork. Confirm the timeline with your bank rather than assuming.
You are done with this stage when
You hold a registered agreement for sale naming your unit, carpet area, price break-up and possession date, plus receipts for everything you have paid.
Your next step · Booking
Register the agreement before you cross 10% of the cost
RERA restricts a promoter from taking more than ten per cent of the flat cost as an advance without a registered agreement for sale. That agreement is where your possession date, carpet area and penalty clause actually live — get it registered, and get a receipt for every rupee.
Two to six weeks, depending on your lender
Booking checklist
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Documents you need at this stage
Booking receipt with refund terms
The first money you pay is the money most likely to be argued about later.
Allotment letter
Names the unit and fixes the price break-up and schedule.
Agreement for sale (registered)
The contract. Possession date, penalty, specification, carpet area and payment schedule all live here.
Loan sanction letter and the loan agreement
Read the conditions precedent — they usually list documents you must obtain from the developer.
KYC set: PAN, Aadhaar, income and bank documents
Required by both the lender and the sub-registrar. NRI buyers are typically asked for additional documents including a power of attorney if not present in person.
Proof of own contribution (margin money)
Lenders release their money only after you have demonstrably paid your share.
Questions to ask the developer
- What exactly triggers each disbursement, and who certifies that the stage is complete?
- If the bank's valuation comes in below the agreement value, who covers the gap?
- What are the cancellation charges after the agreement is registered?
- Is the project approved by my lender, or does it need a fresh appraisal — and how long does that take?
- Who pays the stamp duty on the agreement for sale, and is it adjusted later against the sale deed in this state?
- Which of my payments are refundable if the project is delayed beyond the agreed date?
- When will the demand letters be issued, and how much notice do I get before each one?
Traps at this stage
Paying a large advance before the agreement is registered
It is the most common way buyers lose leverage and, in the worst cases, money. The ten-per-cent rule exists precisely because this used to happen constantly.
Cash payments and receipts in a personal name
Pay to the named project account, by traceable means, and keep the receipt. A payment you cannot prove is a payment you did not make.
Not reading the conditions on the sanction letter
A sanction with unmet conditions is not money. Read them the day you receive it, because some conditions need weeks of developer paperwork.
Assuming demand letters match construction
Go and look, or ask for photographs of the stage being billed, before you release a tranche.
Read next
All guidesThe stage either side
This is general guidance to help you plan, not legal, tax or financial advice. Process, charges and stamp duty vary by state, bank and developer, and rates change. Have a property lawyer read your documents, and confirm every figure before you transact. Pinly does not verify title, and does not perform legal due diligence on your behalf.