i'm planning to buy a 2bhk apartment in AECS layout(kundanahalli). came across one builder he is constructing one building G+4. I'm not sure but i think BDA gives permission for only G+2.
This builder is telling me that as the land is BDA approved he can get A-katha approval for apartment in 4th floor. he is also promising to get me a home loan from SBI bank for the apartment in G+4 after paying all the penalty fee for deviating from approved plan.
What i want to know is
- what fees does the builder has to pay for getting G+4 approved?
- what are other penalty's, which he may hide from me?
- will i have to pay any money in future?
Better to check for occupancy certificate as well. It may not be a good idea to solely rely on Bank Loan Approval. Banks may approve the loan with a clause saying that you have checked and verified all the documents yourself, and you are solely responsible for any deviations.
For akrama sakrama (whenever it comes), it would be difficult to guess what would be the penalty (in per square feet). That too would be applicable if deviation is less than x percent. If deviation is more than the threshold, then it is a big risk.