I have made a booking from the Builder to purchase flat in July2010. I did not do any legal verification as SBI was doing legal verification at that time and cleared the project in Sept. 2010. Then I applied for home loan on this property. Now, they are saying that will reject my home loan request by stating following reasons.
1. Mr A & B ( land owner) jointly executed notarised GPA to Mr.C & D in 1995.
2. Mr C & D jointly executed Sale deed to Mr. E ( current owner) in 2002.
3.There was almost 7 years GAP between GPA execution and Sale deed execution. However, original GPA is not available with Mr. E
SBI is asking why there was 7 years gap and Can the original be verified?
Also I found myself the partition deed on this property between family members is also unregistered one
However, SBI approved other 5 loans for the same property without making these observations.
Hence, I would like to seek our seniors suggestions here shall I go a head with this property, won't it be a problem in future.
Thanks & Regards,
Venkateswara Rao K