Panache Possession Is 5 Months Away — What You Should Be Doing Now
Lodha Panache’s RERA possession date is March 2027. For buyers who booked in 2024–2025 and have been making construction-linked payments, the possession process will begin in January–February 2027 with pre-possession inspections and formal offer of possession letters. October–November 2026 is the right time to prepare.
This guide covers everything Panache buyers need to do before possession, during the handover, and in the first 90 days of ownership.
Quick Reference: Panache Possession Facts
| Item | Detail |
|---|---|
| RERA possession date | March 2027 |
| RERA number | P52100050124 |
| Developer | Lodha Group |
| Location | Hinjewadi Phase 1, Pune |
| OC status | Expected Q1 2027 (verify at maharera.mahaonline.gov.in) |
| Offer of Possession (OOP) | Typically 30–45 days before possession date |
| Full EMI begins | At possession (Pre-EMI ends) |
Phase 1: Pre-Possession Preparation (October 2026 — February 2027)
1.1 Confirm All Payment is Current
Before Lodha issues your Offer of Possession (OOP), all outstanding instalments, interest on delayed payments, and any dues must be cleared. Check your buyer’s account statement:
- All construction-linked payments made as per schedule
- GST paid correctly on each instalment (currently 5% for under-construction residential)
- No pending maintenance deposit or corpus fund amounts
1.2 Verify OC Has Been Received
The Occupancy Certificate (OC) is issued by Pune Municipal Corporation after Lodha certifies completion. Do not take possession of any flat — even Lodha — without OC being in place for your specific tower. Verify at maharera.mahaonline.gov.in using RERA P52100050124.
Without OC: you cannot legally occupy the flat, banks may not convert the loan to full EMI, and municipal services (water, electricity by permanent connection) may not be provided.
1.3 Prepare Your Document Checklist
Collect and organise before possession date:
- Original allotment letter
- All payment receipts (each construction-linked instalment)
- All FIRCs (for NRI buyers)
- Home loan sanction letter and disbursement schedule
- GST payment records for all instalments
- Identity documents (Aadhaar, PAN, passport for NRIs)
- Bank account details for Lodha’s records (maintenance DD mandate)
1.4 Appoint a Possession Agent (for NRIs and Out-of-Station Buyers)
If you cannot be in Pune for the physical handover, appoint a trusted person in Pune (not Lodha’s representative — someone independent of the developer) to:
- Attend the pre-possession inspection
- File the snag list
- Accept key handover
- Verify meter installation and utility connections
Phase 2: Offer of Possession (January–February 2027)
Lodha will send the Offer of Possession letter 30–45 days before the possession date. This letter:
- Specifies the possession date
- Lists final dues (if any)
- Requests you to schedule a pre-possession inspection
What to do immediately on receiving OOP:
- Verify OC status at MahaRERA
- Clear all dues within the deadline specified
- Schedule your pre-possession flat inspection
- Do not accept possession if OC is not in place
Phase 3: Pre-Possession Inspection — Your Snag List
The pre-possession inspection (also called the “fit-out walk”) is your one formal opportunity to document defects before possession. Do this seriously.
Room-by-Room Inspection Checklist
Floors and tiles:
- Check every tile for chips, cracks, uneven grout lines
- Tap hollow-sounding tiles (poor adhesion — mark for replacement)
- Check level with a spirit level (floors should be within 3mm tolerance)
Walls:
- Check for cracks (hairline OK; structural cracks > 1mm wide: flag)
- Check paint finish — no peeling, uneven application, colour variation
- Check plaster finish — no hollows, bubbles, or rough patches
Doors and windows:
- Open and close every door — check for proper operation, no binding
- Check door frame alignment (should be square, not twisted)
- Check all window operation — should open, close, lock cleanly
- Check window glass — no chips or cracks
- Check weather sealing on windows (monsoon test)
Electrical:
- Test every switch and socket with a plug tester
- Verify MCB (circuit breaker) box is complete and labelled
- Check lighting fixtures are installed and working
- Verify earthing with a tester
Plumbing:
- Run every tap — check flow pressure and drainage
- Flush every toilet — check fill and flush mechanism
- Check for any visible pipe leaks under sinks
- Check water heater connections (geyser points)
- Verify drainage slopes (water should not pool on floor)
Kitchen:
- Check modular kitchen fitting (if included by Lodha — verify your agreement)
- Test exhaust fan
- Check counter level and alignment
Balconies:
- Check railing height (minimum 1.05m per NBC)
- Check balcony drainage — water should drain, not pool
- Check waterproofing at balcony-wall junction
Common areas (note, not snag-able but document for records):
- Lobby finish quality
- Lift operation
- Corridor lighting
- Emergency exit signage
Filing the Snag List
Document every defect with:
- Photograph (timestamped)
- Written description (room, location, nature of defect)
- Reference to Lodha’s construction standards (if applicable)
Submit the snag list in writing to Lodha’s possession team. Lodha is obligated under RERA to rectify DLP (Defect Liability Period) defects within the liability period (typically 5 years for structural, 1 year for finishing).
Important: Accept possession and file the snag list simultaneously. Do not withhold possession pending snag rectification unless the defect makes the flat uninhabitable. Withholding possession creates legal complications without much practical benefit for minor defects.
Phase 4: Documents to Collect at Possession
At key handover, collect from Lodha:
- Sale deed (registered copy)
- Completion certificate / OC copy
- NOC from relevant authorities (if applicable)
- Society formation documents (or intimation that society is being formed)
- Maintenance schedule and rates for Year 1
- Utility connection documents (electricity meter number, water connection)
- Lodha Smart app credentials (if applicable for your project)
- Parking allotment letter (with specific parking number)
Phase 5: Post-Possession First 90 Days
Loan Conversion to Full EMI
Your home loan Pre-EMI ends at possession. Contact your bank immediately:
- Submit possession letter + OC copy to the bank
- Bank will process “conversion to regular EMI” — monthly payment increases from Pre-EMI (interest only) to full EMI (principal + interest)
- If your fixed-rate period is ending, this is also the time to renegotiate or transfer your loan
For a ₹88L loan at 8.5%, 20 years: Full EMI = ₹76,300/month vs Pre-EMI ≈ ₹6,233/month. Budget for this jump — it can be a cash-flow shock if unprepared.
Society Formation
Lodha will initiate the Resident Welfare Association / Housing Society formation within a few months of possession. Attend the formation meeting:
- Vote on the society committee
- Review the maintenance rate proposed (compare against RERA-registered maintenance schedule)
- Ensure your parking is correctly registered to your flat in society records
Maintenance Charges Year 1
Panache’s Year 1 maintenance will be managed by Lodha (standard practice for large projects). Typical: ₹3–5/sqft/month. For an 864 sqft unit: ₹2,592–4,320/month. Budget for this in your monthly housing cost calculation.
For NRI Buyers — Specific Possession Actions
If you cannot attend possession in person:
- PoA holder handles inspection, snag list filing, key collection
- Tenant placement can begin immediately — list the flat with a Hinjewadi rental agent as soon as keys are received
- Rental agreement: 11-month leave-and-licence (standard in Pune). PoA holder signs on your behalf
- First rental cheque: In your NRO account. Repatriation possible after tax deduction
NRI possession remote timeline: Approximate 6–8 weeks from key handover to first rental income.
Frequently Asked Questions
Q: When is Lodha Panache possession? March 2027 as per RERA P52100050124. Offer of Possession letters typically issued 30–45 days before — expect January–February 2027.
Q: What should I check at Lodha Panache possession? Complete snag list covering floor tiles, wall finish, doors/windows, all electrical switches and sockets, all plumbing fixtures, balcony drainage, and utility connections. Document every defect with photographs and submit in writing to Lodha’s possession team.
Q: Can I take possession without OC at Lodha Panache? No — do not take possession without OC. Verify OC status for your specific tower at maharera.mahaonline.gov.in. Possession without OC creates legal risks including inability to get permanent utility connections and difficulty selling later.
Q: What happens to my home loan at Panache possession? Pre-EMI (interest on disbursed amount) ends and full EMI (principal + interest) begins at possession. Inform your bank with possession letter and OC copy. Full EMI for a ₹88L loan at 8.5%, 20 years = ₹76,300/month.
Q: How quickly can I rent out Lodha Panache after possession? Typically 3–6 weeks post-possession for a furnished or semi-furnished unit. Hinjewadi rental market is active — 2 BHK ₹28,000–35,000/month, 3 BHK ₹48,000–62,000/month. NRI buyers: have PoA holder list with a Hinjewadi rental agent immediately after key collection.
