Urgent query:pls help
shivam puri
(Querist) 01 June 2013
This query is : Resolved
Hi I just bought a flat with an attached terrace of 960 sq ft, located on the 20th floor with a reputed builder. In the agreement, terrace has been shown to have an entrance from the common amenities section of the lift area. He has however clearly stated the terrace as belonging to the owner of the flat and also mentioned area of terrace in the registered agreement. However after the stamp duty/registration procedure, the bank is refusing to extend the loan on the property citing the floor plan submitted with BMC which shows no opening for the terrace from either the flat or the common entrance. Builder is proposing to get the loan done through another bank but I am confused on whether the society would have the right to terrace once builder has transferred all the rights to society and moved out? pls advice...
Nadeem Qureshi
(Expert) 01 June 2013
Dear Querist
its depend on the terms and condition of society and builder, read carefully
Raj Kumar Makkad
(Expert) 02 June 2013
After handing over the building to the society, the builder has no say therein but if another banker is ready to advance loan then obtain it.
shivam puri
(Querist) 03 June 2013
Hi , The builder has clearly written on the agreement that the terrace belongs to the flat owner. But in the BMC plan, there is no opening shown from the terrace into the flat or the common area..So would the society tommorow have the right to claim that terrace as a a part of the society amenities?
Khaleel Ahmed
(Expert) 03 June 2013
Yes, the builder have no right to sell the terrace area of apartment. No Nationalized bank will give loan. A few private banks may give loan. You are advised to go through the Apartment act of Maharashtra.
