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Jagadeesan Periyasamy
in Civil Law
Asked May 08, 2017

Apartment with panchayat approval eligibility for sales

  • 2 Answers
  • 234 Views

My Apartment got panchayat approval in the year 2005 - 2006. Pl let me know is it eligible for 1st sales, Is 2nd sales possible, any bank loan is eligible for this for 2nd sales to 3rd sales.Awaiting for your reply

Answers 2

It all depends upon the person who respose faith in you and purchase. 

Bank people have descretion in releasing loans.

Agree Comment 0 Agrees almost 4 years ago

There is nothing called as the Panchayat Approved plots/layout. The panchayats do not have any right to approve any property for sale. It is a misleading term used by realtors to sell the plots.  There is a ban on the registration on sites unless they form part of a layout approved by top planning bodies such as your city Metropolitan Development Corporation and the Directorate of Town and Country Planning. Panchayath only has the authority to approve building/house plans in its jurisdiction and not layouts. The same was ordered by Tamil Nadu HC last year.

 

Agree Comment 0 Agrees almost 4 years ago

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