We are planning to purchase a newly constructed property for which builder is not providing the OC but he will give us Possession certificate, A-Khata and we will be able to register the property too. SBI has approved and sanctioned loans in other flats of the same building. They have the approved plan from BBMP, however there is a deviation from the approved plan, hence we are getting only the PC, no OC. How feasible is to buy this property? The property(land) was under litigation for long time but we have the latest high court orders confirming the ownership. Do we still need to check old property ownership? or is the EC for the year [deleted]? RTC for the year 1968-2015 ? are these documents are so important for us to make a decision? pls advice
Due to the deviations in construction, the builder/promoter is not getting the OC.
If the flat that you are purchasing, is comes within the structure approved by BBMP, you may go ahead and buy the flat.
Please double check if the builder can execute the sale deed in absence of OC, if yes, go ahead and purchase this.
Don't purchase the property if builder does not have OC
2) if HC has confirmed ownership then you need not check old property records
3) however as matter of abundant caution take tile search
1. if the deviation is not of major one then getting OC is matter of time.
2.The title the proeprty looks apparently clear and approval of loan by SBI makes it further feasible go ahead.
3.However before proceeding with the deal do consult with a local advocate.
It is not advised to buy a property where the OC certificate is not there.
In my advise refrain from purchasing the said property in question.
Regards
It is always advisable to get all the relevant papers, documents of the property properly scrutinised by an experienced lawyer in the local before purchasing the property which involves huge investment and has the history of litigation in the past.
The piece of information you have given here would not be sufficient to render a proper opinion about the genuineness of the property.
The authorities will not grant OC if there is a deviation beyond the specification and if the authority decides to demolish the deviation of construction violating the approved plans, then you cannot claim any excuse at at that time.
'A' Khata cannot grant exemption for the deviation in the construction.
The high court order copy is to be perused for the details about the judgment confirming the ownership as claimed by you.
Purchasing the property without OC is not advisable.
The bank would grant loan now, but when there is a problem in the future, he would recover the loan amount mercilessly by his own means and sources as per law.
