Mcd booked property

Querist : Anonymous (Querist) 18 August 2021 This query is : Resolved
i am interested in buying 125 sq yards building consisting of basement,stilt parking and four floors. on enquring it came to my notice that builder property was booked in 2012 by MCD due to exceess coverage/deviation from sanctioned plan. builder has assured to get it regularised from MCD if I go ahead with buying the property. can It be reguralised by paying penalties to MCD. what do you suggest? personally it is within my budget and i am very much interested to buy this property. can i avail bank loan against this property in current state? kindly suggest urgently.

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A potential buyer is interested in a property booked by the MCD in 2012 due to building plan deviations. The builder claims it can be regularised by paying penalties. The buyer wants to know if this is possible, if they can get a bank loan, and seeks urgent advice. Experts advise against purchasing the property until the builder has successfully regularised the deviations with the MCD.

P. Venu (Expert) 19 August 2021
The facts posted are too speculative suggest a definite answer.

kavksatyanarayana (Expert) 19 August 2021
It is not suggestible to buy such property.

Dr J C Vashista (Expert) 20 August 2021
Let the builder get the deviation(s) regularised before finalisation of transaction.

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