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[Posting as a proxy to my relative who is outside of Bangalore]

Any suggestion for an apartment project that's nearing completion offering good rental value at the budget of 45 lakhs ? Need something with BBMP approval ...

Call xxxxxxx Realty Mr Rahman xxxxxxxxxxxxxxxx Manager Sales For ready to move in apartment Sarjapur Attibele Road

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Dear Everyone,

I am new to this site.I would kindly like some suggestion for the below mentioned issue:

I purchased a 2BHK flat in a newly constructed building in kamaanhali area.I got all the related documents for the flat from the builder even 16yrs record of EC.All seemed perfectly fine and so we bought the flat for 65 Lakhs.Later gave it for tenants at a good rental rate.

Now the problem came was when we wanted to take mortegage loan on this flat with all clear documents up to date,the bank rejected our approval .The reason being: My flat is on second floor of the building which has another 3BHK falt too on the same floor.The bank's argument for rejecting is that the builder was supposed to build only one flat per floor as per the approved sanctioned plan and by making two flats,he has deviated from the approved plan.!!!!

I even got the khatta and khatta extract which was BBMP approved for the flat,but still no bank accepted for the loan.
The builder washed his hands by saying that no one builds according to the scantioned plan and he would have been in loss if he made 1 flat per floor.

In short,we can sell the flat any time if the buyer has money(which we donot want to ,as its in a good locality close to HBR layout),But only drawback is that we cannot get loan on this flat !!!

Now we are sooo confused what to do with this flat.Please guide me for any suggestions.If someone know any thing .we are too worried now,as we want loan for buy another plot.
Awaiting any kind and helpful replies.

Thanks,
Fathima waasia.