I have brought a apartment in 2007. The builder (indradhanush properties ltd) had got all the approvals (incliding building plan) from chikkabanavara gram panchayat (as at that time the area was still under gram panchayat). By the time the construction was complete and property was registered, BBMP was formed and the gram panchayat came under BBMP. after the waiting for formal announcement about khata transfer, we finally got the A khata done couple of months back. My sale deed, A khata, and EC for 15 years all mention the property is now under BBMP. i have been paying the property tax regularly. and all other documents (DC conversion, history etc are fine).
Now i am trying to get my home loan balance transfered from existing bank (DHFL) to new bank (ICICI). now ICICI bank technical people are saying that they cant approve the loan as the building plan is from gram panchayat. i have asked them to give the same to me in written. Is ICICI correct in saying that they cant sanction loan coz the plan is from gram panchayat? Please advise. thank you in advance for your replies.
