Urban land ceiling

Hari Krishna (Querist) 04 June 2015 This query is : Open
Hi,
I am looking to buy a residential flat in Hyderabad. But i got information that the land has links to Urban land Ceiling Act. The land is owned by a factory over 30 years in a Industrial development area. But many bankers had funded to residents in this venture. Can i buy it safely since banks are funding this project or what would be the competent document to be taken for my doubt is to be cleared. What would be the future implication if i purchase a flat in that venture.

Pls advice

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