Hi!
I have come across a property, which has 3 floors built on 1500 sq.ft of land. Each floor has a house.
The plan approval has been acquired as if it is a single owner property and now the builder is planning to sell each floor as a seperate unit.
Now, when I go to the banks, they say they cannot sponsor a loan if the overall land area is less that 4800 sq.ft.
But one bank is considering this as a sale of a unit of the individual house. And the builder is saying he will be able to provide the buyer with a weperate A-khatha for each floor owner.
Is it advisable to buy this property, considering I might not get a seller who will want to buy the property through loan from a bank?
Thanks
-Dinesh
