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Home > Forum > Hyderabad > Builder Review > is there a risk in taking mortgaged apartment by the builder as my share ?

is there a risk in taking mortgaged apartment by the builder as my share ?

Q: We are getting into an agreement with builder to build 5 floor apartment complex in our site. What are the GHMC norms in mortgaging ? Does it need to be certain floor ? and also certain size ? What happens if choose the the apartments that builder put under mortgage as our share ?

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I feel risk is there in buying a mortgaged apartment, do some market research and then go for the dealing. As per AP Municipalities Development Control Rules,2008,the mortgage rule is exempted for residential buildings up to seven meters proposed in 500 sq meters and industrial buildings in areas other than corporations and municipalities.
Nagesh Tudur


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