We are group of 6 members, planning to purchase a site and construct a group house.
Could someone help us in knowing the minimum site required for constructing an apartment or Group house and the other basic requirements.
Apartment or Group House
Re: Apartment or Group House
we are a group of 4 people who have similar plans.
we finalised the site, but the issue is that banks and financial institutions are not offering loans for 4 individuals.
they insist that the construction has to be done by a builder (after signing a tripartite agreement) and after 80% of the construction, the undivided share can be registered in the individual names.
You need to find a builder before finalising the site- else you will have issues later.
If you are not planning to go for loans, then this is not an issue, but still the land would need to be registered in one person's name and then divided at a later stage.
we finalised the site, but the issue is that banks and financial institutions are not offering loans for 4 individuals.
they insist that the construction has to be done by a builder (after signing a tripartite agreement) and after 80% of the construction, the undivided share can be registered in the individual names.
You need to find a builder before finalising the site- else you will have issues later.
If you are not planning to go for loans, then this is not an issue, but still the land would need to be registered in one person's name and then divided at a later stage.
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krishindya
- Posts: 24
- Joined: November 14th, 2010, 3:00 pm
- Location: Bangalore
Re: Apartment or Group House
Vijay,
If you could let me know the location, locality, size of the plot, i'll work out a solution for you.
Post me the details with your contact number.
Krish
If you could let me know the location, locality, size of the plot, i'll work out a solution for you.
Post me the details with your contact number.
Krish