I have booked a flat in Vaikund Sundaram Karapakkam. Builder has given us approval which is from Panchayat Union Sholinganallur. I have not yet approached any bank but i m worried that this approval is enough for this construction. can somebody throw some light on this.
This project has 5-6 acres of land and there are multiple owners of small small part of it so construction is in 30-40 blocks (buildings) with G+2 structure. Totally it has 108 apartments & 180 duplex. So CMDA approval is required or not!!!!
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  • In general, Panchayat/Local body approval is sufficient for Stilt+2 buildings, provided land is already approved. CMDA approval is not required.
    However, it is advisable to process with a bank, even if u r not applying for a loan.
  • Vishal,

    what is the status now?
  • Panchayat Approval is not enough for bank loan
  • Originally Posted by sendmethequo
    Panchayat Approval is not enough for bank loan

    Some times bank loan is not enough to buy a flat
  • when is phase 1 will be handed over?