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Can bank deny for granting loan for grampanchayat property
18-Jul-2023 (In Civil Law)
I am planing to purchase of flat in Grampanchat in hyderabad, Flats approved by Grampanchyat. I will purchase flat through Bank Loans. When i hv contact banks not giving loan for panchatyat approved flats. why sir is there any deivation. Now the telangana govt taken decision Hyderabad surrounding villages comes under Hyderabad Metropolition Development authority. please reply shall i purcahse panchayt approve flats or not?
Dear,
You can purchase gram panchayat approved flats. There is no problem in that. Coming to availing loan from banks, it is becoming difficult nowadays in getting loans from banks for purchasing gram panchayat approved flats in Hyderabad as many properties in Hyderabad are still unregulated and banks don't want to take any risks. You can try financial institutions viz., LIC Housing Finance Ltd (LICHFL), Indiabulls Housing Finance. They may provide loans for purchasing gram panchayat approved flats.
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Adv. B. Srikiran
Hyderabad | 5+ Answers
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Good Decision, But its better to wait until gets new orders approval from Telangana Government. Or else kindly check with local banks, whether they will approve loans for your new flats in Gram Panchayats.
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Adv. Srinivas B
Hyderabad | 25+ Answers
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