Apartment with panchayat approval eligibility for sales

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

Bank people have descretion in releasing loans.

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.