Multiple plots in a sale deed

kevin kk (Querist) 27 November 2024 This query is : Resolved
Hi ,

I am trying to buy a plot in a layout, this is a resale. Where the builder bought the land owner's share, however, he clubbed 3 plots in a sale deed, EC is per plot. Due to this bank is denying loan. Is this risky to buy this ? i mean since builder cannot share the original sale deed. I also provided a certified sale deed, however, bthe ank is not considering it.

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A buyer is concerned about purchasing a resale plot where the builder has combined three plots into a single sale deed. This has led to the bank denying a loan because the Encumbrance Certificate (EC) is per plot, not per individual sale deed. The advice suggests the builder should subdivide the plots or execute separate sale deeds for each to satisfy the bank's requirements. While Katha and tax payments per plot might seem reassuring, the core issue remains the consolidated sale deed preventing loan approval.

T. Kalaiselvan, Advocate (Expert) 27 November 2024
If there is no separate sale deed for the property you purchase then how can the bank grant loan?You may ask the builder to enter into a separate sale agreement for you plot alone or get it sub divided.

kavksatyanarayana (Expert) 27 November 2024
The builder cannot club in the 3 plots in a sale deed if there are 3 different buyers only, if one buyer he can execute one sale deed for 3 plots. You can verify the EC obtained from the concerned Sub Registrar and consult a local advocate if you have any doubts.

Dr. J C Vashista (Expert) 28 November 2024
The builder is stated to have developed / constructed all 3 plots purchased from different sellers even than it do not get clubbed to make it single property, accordingly the builder has to get sale deeds plot-wise in favour of prospective buyers.

kevin kk (Querist) 28 November 2024
Thank you all for your reply. Can the builder execute a deed(like partition/Gift) so he can separate the plots? And banks can give loan

T. Kalaiselvan, Advocate (Expert) 28 November 2024
The builder has to divide and demarcate each plot properly before selling a particular plot in your favor.

kevin kk (Querist) 01 December 2024
I had checked with the builder, he is suggesting that it would be fine, if Katha and tax-paied are per plot. Is that correct ?

Dr. J C Vashista (Expert) 01 December 2024
Your question as, "Can the builder execute a deed(like partition/Gift) so he can separate the plots? And banks can give loan"
The plots are already demarcated and registered singularly and separately hence there is no requirement for partition. However, there is no infirmity in donation of either of the plot and registration of a gift deed.
Sanctioning loan for an individual plot/ flat is not a problem, contact your financer /banker.

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