hi,
i am planning to buy a flat in urappakkam. i brought al legal documents. when i approched a bank agent for applying loan, he verfied the same and said loan cannot be sanctioned due to below reasons:
FSI for land = 1.76(1.5 - 1.55 is only acceptable)
plot coverage area = 72%(50-55% is acceptable)
in addition he said that the builders should have got approval from DTCP in order to construct flat with above specifications.
When I stated the above to builders they argued that approval from local panchayat is sufficient for constructions in urapakkam. Also they are ready to get us loan from some other private banks.
We are confused with this issue.
Please help us..
