Category: Technical Valuation

Technical Deviations

With the effect of the financial markets on the home loans industry now the banks are tightening the rules for giving home loans. Banks are very keen on the eligibility, previous tracks and the legality and technical verifications of the property. Customers are suggested to have a clear look at the property before going for an agreement and with the loan process.

With the new rules and regulations coming into the process a customer to be aware of his property completely before going for a home loan. Now the banks are not funding to those properties which has horizontal and vertical deviations. This is applicable to all types of properties for new and resale.

Banks has given some relief to the old properties if they have gone for Building regularization.

For e.g.:

Horizontal Deviation:

Sanctioned area in each floor as per plan:- 1600 Sft

Constructed area as per the Building:- 2400 Sft

In the above case the property will have a Horizontal deviation of 50% for which bank will not give any loan. In the same way it is also applicable to Independent houses.

Vertical deviation:

Consider if the building is Ground + 2 upper floor’s building then

The sanctioned Height of the building as per plan : 30 ft

Existing height of the building : 40 Ft

In the above case the builder might have constructed a unauthorized cellar or a Unauthorized floor i.e Ground + 3 Upper floor. In the same way it is also applicable to Independent Houses.

In the both cases bank will reject the loan application submitted by the customer as it has both vertical or horizontal deviations and any one of the above.

To get the details of the constructed area and the height of the building please refer with the plan copy and check how much is the sanctioned are for each floor and how much is the constructed area and with the height of the building like is there any unauthorized cellar or any unauthorized floors above the building which are not mentioned in the plan copy.

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GiottoPress by Enrique Chavez