Unapproved Unit in 2nd Floor
I booked an First floor flat in chennai sub urban area. I liked the floor plan and area very much. When i apply for the SBI home loan, it got rejected. The reason is, the builder get the approval from CMDA, only for 4 units (ground floor - 1 unit, First Floor - 2 unit, second floor - 1 unit). But he constructed one extra unit in second floor. SBI bank official says, eventhough my flat in first floor is approved, they won't give loan as there is a deviation in no of approved units. I inquired in a private bank, and they are saying i will get a loan, as my unit is approved.
I have already paid advance and i am confused in choosing from the 2 options
1. Withdraw the agreement and get the advance back
2. Go for a private bank loan (like LIC), as my unit is approved, eventhough it is a risk
I would like some advice from the forum members. Thanks.
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