Real Estate India: Problems with merging of two 1 BHK to one 3 BHK by Builder
Question asked by Mr Sanjiv Jain from US:
I booked I have booked one 3 BHK flat in a new construction building and I’ll get possession in 6 months. This Flat has two numbers allocated to this (303+304). I checked with builder about the floor plan as approved by the corporation and found that this 3BHK is actually created by combing two 1 BHK flats. Builder told me that once building construction is over, he will get plan re-approved as per modified structure. According to him, I need to go for only single agreement of purchase and registration/stamp duty.
I want you opinion on this. Should I go for this agreement? Will I get single loan on this property or that will be treated as double home loan even if I go single agreement?
Mr. Sanjiv Jain, USA
Vatsala Answers:
As long as the modifications from sanctioned plan are internal, it will not amount to FAR violations. Hence you can proceed with the purchase. You should make sure that the builder gives you the Khata for your flat (in the name of the original owner, which you can get transferred to your name later) and the tax paid receipt prior to registration. The home loan will not be considered as a double home loan. If the builder gives you a Khata for two flats, you can get it amalgamated later. However in the sale deed you can show a single flat, showing both Khata numbers. Vatsalawww.atoneplace.com
For more information, kindly visit at Real Estate India or Online Real Estate Video.
I booked I have booked one 3 BHK flat in a new construction building and I’ll get possession in 6 months. This Flat has two numbers allocated to this (303+304). I checked with builder about the floor plan as approved by the corporation and found that this 3BHK is actually created by combing two 1 BHK flats. Builder told me that once building construction is over, he will get plan re-approved as per modified structure. According to him, I need to go for only single agreement of purchase and registration/stamp duty.
I want you opinion on this. Should I go for this agreement? Will I get single loan on this property or that will be treated as double home loan even if I go single agreement?
Mr. Sanjiv Jain, USA
Vatsala Answers:
As long as the modifications from sanctioned plan are internal, it will not amount to FAR violations. Hence you can proceed with the purchase. You should make sure that the builder gives you the Khata for your flat (in the name of the original owner, which you can get transferred to your name later) and the tax paid receipt prior to registration. The home loan will not be considered as a double home loan. If the builder gives you a Khata for two flats, you can get it amalgamated later. However in the sale deed you can show a single flat, showing both Khata numbers. Vatsalawww.atoneplace.com
For more information, kindly visit at Real Estate India or Online Real Estate Video.