Comments on: Caveat Emptor: Guidelines for purchasing an apartment unit in India – due diligence to be carried out http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/ Consulting|Technology|International business Tue, 22 Dec 2009 08:29:46 +0000 http://wordpress.com/ hourly 1 By: subhash http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/#comment-8007 subhash Tue, 22 Dec 2009 08:29:46 +0000 http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/#comment-8007 i am purchasing a flat in an apartment. the builder has the Encumbrance certificate, sale deed etc which he showed me. The land is in the name of some one else and he has the GPA cum Development in his favour. But when i asked if i could apply for loan from the bank he said it may be a problem getting a loan. He said when he sought a loan from the bank for building the apartment, he could not get a loan because there was some discrepancy in the survey number records of one of the previous owners (who purchased the land in 1992) with that in the sub registrar's office records. The bank solicitors told him that unless a rectification deed is made by this person in the sub registrar's office, he would not get a loan. Under these circumstances, is it safe for me to purchase a flat in this apartment? will have any problem purchasing such a property? is everything in order? what should i do? i am purchasing a flat in an apartment. the builder has the Encumbrance certificate, sale deed etc which he showed me. The land is in the name of some one else and he has the GPA cum Development in his favour. But when i asked if i could apply for loan from the bank he said it may be a problem getting a loan. He said when he sought a loan from the bank for building the apartment, he could not get a loan because there was some discrepancy in the survey number records of one of the previous owners (who purchased the land in 1992) with that in the sub registrar’s office records. The bank solicitors told him that unless a rectification deed is made by this person in the sub registrar’s office, he would not get a loan.

Under these circumstances, is it safe for me to purchase a flat in this apartment? will have any problem purchasing such a property? is everything in order? what should i do?

]]> By: Rira http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/#comment-5388 Rira Wed, 19 Dec 2007 10:21:45 +0000 http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/#comment-5388 This was very useful. I am in middle of evaluating a second sale apartment, and it is very difficult to get the clear picture. Do you know any lawyer , who could help me out. Your information would be helpful. This was very useful.

I am in middle of evaluating a second sale apartment, and it is very difficult to get the clear picture.
Do you know any lawyer , who could help me out. Your information would be helpful.

]]> By: M. Raviraja http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/#comment-4486 M. Raviraja Tue, 23 Oct 2007 06:43:38 +0000 http://ecofin.wordpress.com/2007/10/16/guidelines-for-purchasing-an-apartment-unit-in-india-due-diligence-to-be-carried-out/#comment-4486 Simply superb Simply superb

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