- This topic has 11 replies, 7 voices, and was last updated 1 year, 1 month ago by
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PHi,
I’m looking to buy a ready-to-move apartment on the 6th floor of a G+7 building (1.5 years old construction). However, the issue is that the building is only approved up to G+2. No banks are willing to offer a loan on this, except for a couple — and that too only through agents.
This is clearly a red flag, and there’s a real risk of a demolition notice in the future. That said, I’m aware that in Kolkata and Howrah, this kind of construction is quite common — where the top few floors are unapproved, but still somehow get passed by the local corporation.
Also, this particular flat is one of only three still available; the rest have already been sold and are occupied (3 flats per floor).
So, my question is: if the majority of people are buying and living in such flats, is it really a risk? Or am I just being overly cautious?
Has anyone actually come across a real case where unapproved top-floor flats were demolished, sealed, or occupants were legally asked to vacate?
I already understand the legalities — I’m more interested in how strictly and commonly this rule is enforced in practice.
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SWhy do you want to risk your money? When the government comes in and razes the floors later what will you do?
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PThat is a possibility I already know of.
But do you know of any real life case of this happening?
Almost ever standalone apartment exceeding 4-5 floors have has their top floor apartments unapproved, yet people have stayed and are staying peacefully in them.
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SFirst check if the regularisation has been done. If it has been regularised then banks shouldn’t have any problem in giving loan. If the builder is saying he will get it regularised after you buy it, then it is a ticking time bomb.
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ULol..its illegal and you still want to take risk. 99% time no one will bother that 1% chance of getting into problem will ruin you.!
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UUnrelated, but a couple high rises were razed in kochi, kerala due to violating regulations.
Kolkata real estate is kinda cheap, if you are looking into apartments. I bought a 3 BHK with covered parking for an all inclusive of 40Lakhs.
My advice to you is , don’t take risks. Widen your horizon and you may get better apartments.
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MIf you work a private job, I would say don’t buy it. Logic is these type of flats are purchased by government employees working for local corporations and they rent them out. Or by builders friends, or people having a lot of time for litigation. If you work a private job, you won’t have time for litigation when it comes to that.
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