Question regarding purchasing a mortgaged flat

Q: Request for your advice regarding the query being explained here. I am interested to purchase a flat of a Gated Community. However, the flat number that I wanted is mortgaged to GHMC authorities. I actually would like to get into an agreement with the builder by paying some amount of advance, that that particular flat shall be sold to me after it is released by GHMC authorities. The price of flat will be finalized during the agreement itself and remaining amount will be paid only after it is released to the builder by GHMC. If Builder agrees to this agreement, is it legally acceptable. Also please suggest is it safe to me with this kind of agreement. Kindly help me.

sbng, Hyderabad

28th May 2014

Buying property in Chanda Nagar, Hyderabad

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Hey I would suggest you to buy the property after to GHMC authorities give to builder. , I think this would be better and in safe mode, than giving advance and doing agreement. If you are doing agreement make sure you get a proof of it from the builderthat you have given given advance for a flat which you want to buy.