Home |Kerala Land Registration | I applied for a home loan of 60 lakhs for a villa (actual cost 76 lakhs) in Kerala. The loan was approved and the project was also approved by the bank. Registration was supposed to be in next week. Now bank came up saying Builders charged on super built up area and plan is given in superbuilt up area.So, as per valuation by engineer of the bank, the loan can be given for 50 lakhs for built up area. What can be done as the project is rera approved one?

I applied for a home loan of 60 lakhs for a villa (actual cost 76 lakhs) in Kerala. The loan was approved and the project was also approved by the bank. Registration was supposed to be in next week. Now bank came up saying Builders charged on super built up area and plan is given in superbuilt up area.So, as per valuation by engineer of the bank, the loan can be given for 50 lakhs for built up area. What can be done as the project is rera approved one?

Answer Notify Me - 1 Notifying - 2



Kerala Real Estate Regulatory Authority (K-RERA) Kerala Real Estate Regulatory Authority (K-RERA), Government of Kerala verified
Answered on December 14,2023

As per the Real Estate (Regulation & Development) Act, 2016, the promoter shall sell only the carpet area of an apartment /flat. The saleable area is the carpet area. In this case, the aggrieved party can approach the K-RERA against the promoter for statutory violations. 

How would you rate the answer?


Excellent Good Neutral Poor Bad

Thank you for your response..

Clap Clap 0
Share Share Answer Share Share
Views 11 views
tesz.in
Hey , can you help?
Answer this question
Guide

How to do Property Registration in Kerala?

Registration of the property is a full and final agreement signed between two parties. Once a property is registered, it means that the property buyer..
  Click here to get a detailed guide
Guide

Aadhaaram, Pattayam, Pokkuvaravu, Databank

Aadhaaram (Sale Deed) Sale Deed or Adharam is the registered document by which the title of a property is transferred or conveyed from one person to another. In a purchase or sale of a prop..
  Click here to get a detailed guide

Related Questions