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I am planning to purchase a Gramathana site situated at layout approved by Horamavu village Panchayat whether Banks provide loans for such sites ?

- by Narasimha Murthy, K.R. Puram.

For purchasing Gramathana sites formed after conversion of the land from agricultural to non-agricultural purpose in layout formed on such land after obtaining approval by Village Panchayat, Bankers will not entertain applications seeking housing finance, since only BDA or BMRDA is the competent authority to approve layout plan, while Village Panchayat does not have any power or authority to approve layout plans.

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These are all the legal questions answered by Advocate S.Selvakumar in various magazines, in various occasion including realestate reporter monthly.