Penthouses - How legal are those
Posted: May 15th, 2012, 8:58 pm
Folks,
I am planning to buy a roof top 2 BHK apartment(builder calls it a penthouse). The project has 6 floors each floor having 8 apartments. On the 7th floor, builder has constructued two, 2BHK apartments. The builder is claiming that he has the approval for the top floor 2 bhk apartments.
But there is a small catch. The builder says he had approval for building two 1BHK on the top floor, but he has built 2BHK instead (One extra room is added to both the roof top units). He says that this is very small deviation and that is not uncommon in construction business.
The builder is also claiming that banks, including SBI will give loan for the roof top units.
Here are my questions:
1) How safe it to buy such property ?
2) Will I face problems when I try to resale it later ? say after 5 to 10 years.
3) Is such deviations (as builder is saying) really common in construction business ?
Thanks much for your help in advance. I am getting a decent deal, but worried about the legality stuff
. Let me know what you guys advise.
--Naveen
I am planning to buy a roof top 2 BHK apartment(builder calls it a penthouse). The project has 6 floors each floor having 8 apartments. On the 7th floor, builder has constructued two, 2BHK apartments. The builder is claiming that he has the approval for the top floor 2 bhk apartments.
But there is a small catch. The builder says he had approval for building two 1BHK on the top floor, but he has built 2BHK instead (One extra room is added to both the roof top units). He says that this is very small deviation and that is not uncommon in construction business.
The builder is also claiming that banks, including SBI will give loan for the roof top units.
Here are my questions:
1) How safe it to buy such property ?
2) Will I face problems when I try to resale it later ? say after 5 to 10 years.
3) Is such deviations (as builder is saying) really common in construction business ?
Thanks much for your help in advance. I am getting a decent deal, but worried about the legality stuff
. Let me know what you guys advise. --Naveen