Unapproved Unit in 2nd Floor - Indian Real Estate Forum

rajasekarr · 19-11-09

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.

karthickj · 19-11-09

Hi Rajasekhar,

You can have a better idea by going through this thread which is similar to your case.

]http://www.indianrealestateforum.com/chennai/t-question-on-cmda-approval-3418.html[/URL]

Regards
JK

abk · 20-11-09

check this thread for the reply

]http://www.indianrealestateforum.com/p-question-on-cmda-approval-post42877/postcount14.html[/URL]

19-11-09	#1
rajasekarr New Member Join Date: Nov 2009 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	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.

19-11-09	#2
karthickj New Member Join Date: Jan 2009 Posts: 39 Thanks: 0 Thanked 0 Times in 0 Posts	Please refer the thread Hi Rajasekhar, You can have a better idea by going through this thread which is similar to your case. ]http://www.indianrealestateforum.com/chennai/t-question-on-cmda-approval-3418.html[/URL] Regards JK

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20-11-09	#3
abk Senior Member Join Date: Dec 2008 Posts: 615 Thanks: 0 Thanked 0 Times in 0 Posts	check this thread for the reply ]http://www.indianrealestateforum.com/p-question-on-cmda-approval-post42877/postcount14.html[/URL]