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Dear All,

I am interested in buying a second sales appartment (4-5 years old). The current owner is first owner of the appartment and is having loan at SBI (State Bank Of India).

Since existing loan is in SBI, even I thought of going with the same bank and applied for the home loan. Legal opinion is also likely to be in our favour, but as per valuator the apprtment shows more than 50% deviation compared to approved plan and hence SBI cannot sanction loan for it.

When I asked how come the same SBI has sanctioned loan earlier (no modifications done after construction), SBI said rules have become very strict since 2006 and now they cannot approve. Although the deal is between current owner and myself, we informed the issue to the builder. Builder says he can get loan in other nationalised bank.

Is it good idea to go for the appartment? Need valuable inputs.

Thanks in advance!

Hi All,

One more question; Is there any possibilty of getting this regularised? And what percentage of deviation can be regularised?

Thanks in advance!

THis is my opinion only - if I were you, I would stay away from any construction that does not follow the bye-laws / approved plans etc. Why take that risk? I am not sure if the approvals process is all that great, but the rules are set for our safety and health, and it would be better for us to follow them. Steer clear of all these properties with violations!!