We have registered a flat in Chennai, were they are building 9 flats in 3 floors. We gave the advance and then applied for home loan. The bank found out that CMDA approval is only for 6 flats in 3 floors.
What do we do now?
The builder says that there will be no problem if we go ahead and buy as the square feet is as per approval (just that instead of 2 big flats, 3 small flats are built on each floor, because buyers will be willing to invest lesser amount for smaller flats rather than higher amount for 2 big flats). And says he can return the advance money to us (after deducting money for a few changes we made in the flat (changed the kitchen location and converted 3 bedroom into 2 to make it spacious)) and find another buyer. But the money we paid for registration cannot be returned as it is paid to the government. We will most probably be losing around 5 Lakh INR.
We are afraid to go ahead buying the flat too.
Without any fault of ours, we are now suffering. What do we do?
This is urgent.
What do we do now?
The builder says that there will be no problem if we go ahead and buy as the square feet is as per approval (just that instead of 2 big flats, 3 small flats are built on each floor, because buyers will be willing to invest lesser amount for smaller flats rather than higher amount for 2 big flats). And says he can return the advance money to us (after deducting money for a few changes we made in the flat (changed the kitchen location and converted 3 bedroom into 2 to make it spacious)) and find another buyer. But the money we paid for registration cannot be returned as it is paid to the government. We will most probably be losing around 5 Lakh INR.
We are afraid to go ahead buying the flat too.
Without any fault of ours, we are now suffering. What do we do?
This is urgent.
