Quick answer: Buying your first home in Hyderabad takes about ten steps: set a budget from your income, check your CIBIL score, get your loan eligibility in writing, shortlist approved projects, check RERA and the documents, book, apply for the loan, register, get the loan released and take possession. Most buyers need 10–20% of the price plus about 8% for charges as their own money.
By Vijay Arjun V (B.Pharm, PGDM), authorised LIC HFL DSA since 2002. Updated 9 October 2026.
1. Set a budget you can live with
Start from your monthly take-home pay, not the flat price. Lenders like total EMIs to stay within about half your take-home pay; LIC HFL decides the exact figure on your profile. A ₹32 lakh loan over 30 years at 7.15% is an EMI of about ₹21,600. Try the eligibility calculator and EMI calculator, or read buying a home under ₹50 lakh.
2. Save for the down payment and charges
- Down payment: 10% for loans up to ₹30 lakh, 20% for ₹30–75 lakh, 25% above ₹75 lakh.
- Registration charges in Telangana: about 7.5% of the value, plus 0.1% mutation in GHMC areas.
- GST of 5% (1% for affordable homes) if the flat is under construction.
- Builder charges: maintenance deposit, corpus fund, parking, legal fees.
Full breakdown: the hidden costs of buying a flat in Hyderabad.
3. Check your CIBIL score first
LIC HFL’s best rate (from 7.15% for salaried buyers) is for a CIBIL score of 825 or more. Check yours free once a year, fix errors and clear small overdues before you apply. See home loan with a low CIBIL score.
4. Get your eligibility before you shop
Send us your income documents and we will tell you what LIC HFL is likely to sanction. Knowing the number before you visit builders stops you falling for a flat you cannot fund, and adding an earning spouse as co-applicant can raise it. See eligibility by salary.
5. Decide: flat or plot, ready or under construction
- Under-construction vs ready-to-move: GST, pre-EMI and risk
- Plot vs flat: funding, tax and resale
- Resale flats: process, documents and costs
- Open plots in Patancheru, Medchal and Shadnagar: for plot buyers
6. Shortlist approved projects
LIC HFL pre-approves many projects (APF approval). Choosing one means faster sanction, a processing-fee discount and no legal and technical fee. See the list of LIC HFL approved projects.
7. Check RERA, documents and the land
- RERA registration, quarterly progress and complaints: how to check Telangana RERA
- Title and approvals: property documents checklist
- Lake buffer zones: FTL and buffer zones in Hyderabad
- Plots: HMDA vs DTCP plot approvals
8. Book carefully
Under RERA a builder cannot take more than 10% of the price before a registered agreement for sale. Pay by bank transfer, get receipts and read the agreement for possession date, penalties and carpet area.
9. Apply for the loan and register
Submit KYC, income and property documents. Once documents are complete, LIC HFL assesses your income and runs legal and technical checks on the property before sanction. You then register the sale deed and LIC HFL releases the loan to the seller or builder. Track it with LIC HFL loan status. Full process: LIC home loan process and approval time.
10. Take possession and claim tax benefits
Check the OC, walk a snag list and move property tax and electricity into your name: flat possession checklist. Then claim interest and principal deductions under the old tax regime: home loan tax benefits 2026.
Frequently asked questions
How much should I save before buying my first home?
For a ₹40 lakh ready flat: about ₹8 lakh down payment plus about ₹3 lakh for registration and charges, so roughly ₹11 lakh, plus a cushion for interiors and moving.
Is there a subsidy for first-time buyers?
PMAY-Urban 2.0 offers an interest subsidy of up to ₹1.8 lakh to families with income up to ₹9 lakh a year buying a home up to ₹35 lakh. Ask us whether your loan qualifies.
Why use a DSA instead of going to the branch?
We cost you nothing extra, check your eligibility and documents before you apply, and follow up with LIC HFL until the loan is released. See LIC HFL offices in Hyderabad and how a DSA helps.
Sources: lichousing.com (rates and funding limits, checked 9 October 2026); Telangana Registration & Stamps Department orders; RERA Act, 2016 section 13; PMAY-U 2.0 guidelines. EMI figures are our calculations.
Hyderabad Home Loans is run by Elite Financial Services, an authorised Direct Selling Agent (DSA) of LIC Housing Finance Ltd. We are not LIC HFL. Loans are sanctioned solely at LIC HFL’s discretion; rates and fees may change.