KAN12345678910 (SALARIED) 13 February 2013
I am planning to purchase a flat approved under grampanchayat in Dombivli at Sagarli. Co-operative banks are offering loan on the property. The property is on 3rd floor of a five storied building. Builder says he has approval for all the floors from grampanchayat. Can I go ahead with this deal. Kindly advice.
Ibrahim Deshmukh (Legal Consultancy) 16 February 2013
As long as the Building Plans are sanctioned by the Local Authorities i.e. Thane District Collector and Town Planning office Thane, you can proceed wiht the booking of your flat by entering into Agreement to Sale and registering the same with sub-Registrar of Assurances, as a pre-condition with the builder.
But based on Gram Panchayat approved plans... its too risky to proceed.
Money to builders mostly travels ONE-WAY only, be cautious.
Ibrahim Deshmukh
Legal Consultant
Email: ibdesh@gmail.com
www.law-india.com
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