India  |  Real Estate Law

Legal Question

Asked on: 5/10/13, 9:28 am

Hi I have booked under construction flat 1 month ago in Pune India. Now builder is asking to do agreement but just I came to know that construction has been stopped since environmental clearance certificate has not approved. Construction has done upto second level parking.(Actually builder has already built A building) I have booked flat in B2 building. (total B1,B2, B3,B4 & C building are still under construction) Builder is saying SBI approval has already received for the project. Even SBI agent is saying many loan cases has been approved for same project & disbursement has done.

But I don't how long construction will stop due to environmental clearance certificate. Builder is saying he will get in 2-3 months.

My question is how much environmental clearance matters? How can SBI give loan without environmental clearance certificate? Is it advisable to do agreement without it? or wait till get environmental clearance. Builder is not ready to wait for agreement till get environmental clearance.

please advice on earliest. Thank you.

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