Understand your need: Be clear on the objective of buying a property – is it for your own stay or is it an investment? If it is the latter, are you investing for the short-term or the long-term?

Understand your finances: Ensure that you are aware of the implications on your finances when you invest in an under construction property vis-a-vis a ready-to-move one. You need to understand related issues like amount of home loan you would require to take, the EMI that you would need to pay, savings in rental that you would be making if it is a ready-to-move property. Most importantly, you need to understand the tax implications of the entire transaction.

Understand the project: You need to be sure of the exact location of the project, the project specifications and whether relevant approvals are in place.

Understand the project developer: You need to be well-aware of the experience as well as the reputation of the developer (financial state, timely delivery on other projects). It is extremely critical that your money is in safe hands.