Purchasing a flat in gram panchayat area
Narayan
(Querist) 08 January 2014
This query is : Resolved
Hello,
I have a query for the experts. I intend to purchase a property in Keshav Nagar, Pune, which comes under Gram Panchayat.
I identified a property which was priced a little lower than others. However, the builder made it clear that no bank will provide me housing loan since the property is not approved by Town Planning. However it is approved by Gram Panchayat and some Housing Finance Co's (non banks) and willing to offer home loans for this project.
Wanted to check if it is legally safe to invest in this property in the long run, especially when this area may come under the Pune Muncipal Corporation Limits within the next one year.
ajay sethi
(Expert) 08 January 2014
better invest in property which has building plans approved by PMC . merely because its cheap dont invest .
Narayan
(Querist) 08 January 2014
Dear Sir, this area is still not under PMC. It is under Gram Panchayat
ajay sethi
(Expert) 08 January 2014
dont purchase . since not under PMC you wont know have any checks on quality of construction , No Occupation certificate etc .
Rajendra K Goyal
(Expert) 08 January 2014
Agree with the advise of expert ajay sethi ji.
construction may be sub standard and no confirmation to infrastructure in future.
BAALASUBRAMANNYAMM
(Expert) 09 January 2014
It is always not suggestable to purchase a house property that too in Gram Panchayat approved. Even though, the rate is as cheap as when compared to the area in PMC limits, it can be creates a lot of legal problems, in future. So dont go for that.
Advocate. Arunagiri
(Expert) 09 January 2014
Plan approval is different from the safety of the investment.
If the plan is approved the DTP authorities, you can get loan from banks. With the town panchayat approval you can construct house. You can also resale the same.
What so ever it may be the case, if all the documents are good, if the price you pay is at par with the market price, you investment is safe.
Guest
(Expert) 10 December 2014
Well advised by Experts
