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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  • 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

    Regards
    JK

    Regards
    JK
    CommentQuote
  • check this thread for the reply

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