my wife is an employee of Bank of India and she applied for Staff Home loan for purchasing a ready made Flat. We received staff home loan sanction letter from Bank of India for purchase of ready to move in flat. But as apartment is constructed on Class B type land, bank is asking for Sub divisional officers letter of permission for mortgage the flat. Bank want this letter before disbursement of loan (as mentioned in search report). But SDO said he can issue this letter only after sale deed is executed and buyers name published PR card.
now bank is asking for SDO letter for disbursement AND SDO asking sale deed for producing letter of permission to mortgage.
please guide us what to do ? who is correct Bank or SDO ?