Group Construction

[kariyan]

Hi

We THREE people want to jointly buy a 30x50 BDA approved site.

Plan is to construct a 3 storied house, each person owning one floor each. Sharing the common facilty expenses.

I have couple of questions regarding this plan

a) Will the Banks give house loan for such plan? 3 loans for 3 people.
b) Will the Govt sanctioning authrorites will object such plan?

-KARIYAN

[yashmys]

3 blood relatives can avail the loan.

[kariyan]

Thanks for the resp.
What abt 2 people buy a 30x40 site. Divide it to two sites, and construct independent 2 houses?

[shak]

Thanks for the resp.
What abt 2 people buy a 30x40 site. Divide it to two sites, and construct independent 2 houses?

This way you can avail the loan separately. if you divide 30x40 into two sites, the house won't be that good.

I would suggest you to go for individual 20x30 site or find a site with 40 feet width facing road , so that you can divide it into 2 parts and build separate houses elegantly.