I am from Hyderabad. I bought a flat in an apartment which fall under gram panchayat. While I was purchasing this flat, BRS(building regularisation scheme) was pending and was "in progress". None of the banks were giving home loan for this property except axis bank(because of not having BRS). Bank executive and builder both said BRS will be approved and no need to worry about it. I went ahead and did the transaction with axis bank thinkging that, why will axis bank take risk for an improper property and if anything goes wrong axis bank will be there with me. few months later BRS request was rejected because of 24 ft road going through our building. Now who is responsible for taking the loss? me, or builder or bank. If I continue my tenure with axis bank, i wil be end up paying half a crore. I am worried and lots of tension because of this issue. What if, after few years govt comes and tries to demolist out apartment??? Please help me, I assume bank should do something, because they are the ones who are experts about financial matters and not me.
