Risk in buying porperty whose map is not approved by authorities?
I am planning to buy a 2 BHK. It is a freehold property and i can be registered in my name if i buy it. But the issue is that the property map is not approved by the local authorities. What would be risk involved if i buy such property?
The builder or owner was ought to seek approval of layout plan from concerned authorities before starting construction of residential or commercial building.
Constructing building in unapproved layout will not be given permission to be occupied or such layout plots will be treated as unlawful and exemplary penalties will be levied as per Municipal Laws.
Land which is sub-divided into plots without permission from competent authority is considered illegal or unapproved layout. No facilities such as roads, drainage, street lighting will be extended in such areas.
Further, in case you intend to apply for loan, you will not get loan for said property.
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