Hi,

I recently checked few societies in patparganj area and liked few flats there. When I started negotiation with owner then He replied me that no bank will offer loan to me for this society although they are claiming that there flat is more then 10 years old and they are living there for more then past 10 years.
I was not able to understand why bank will not offer loan.

Is it like few societies in patparganj area are unauthorized? The area I am talking about is also known as IP Extension.


Thanks and Regards,
Sonshu
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  • It was in the newspapers sometime back that there is a court case going on against some societies in that area because of violation of building norms. May be that is the reason bank loans are not available for some societies.

    See the details in following newspaper article:

    Demolition action on all violations - Hindustan Times
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  • Originally Posted by ThePunjabi
    It was in the newspapers sometime back that there is a court case going on against some societies in that area because of violation of building norms. May be that is the reason bank loans are not available for some societies.

    See the details in following newspaper article:

    Demolition action on all violations - Hindustan Times


    Thanks Bro for info. Do we have list of such societies?
    I think it would risky to buy in such society.
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  • I don't think its true except for 1 or 2 societies. Although, In some societies i have heard that the flats are disputed because of some reasons. Could u please let us know the society names ?
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  • Originally Posted by shaitaan
    I don't think its true except for 1 or 2 societies. Although, In some societies i have heard that the flats are disputed because of some reasons. Could u please let us know the society names ?


    Hi ,

    I am specifically talking about Mangla Apartments. Any body some clues for this society?


    thanks,
    sonshu
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  • I live in IP but never heard this
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  • thanks for sharing
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  • What is current circle rate for flats in IP extention area?
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  • Which are good socities in Ip Extension for living purposes and what are the prevailing rates?
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