- Fourth Floor Home Loan with Single/Multiple Units
- Serving Delhi, Noida, Ghaziabad, and Nearby Areas in UP
- Low Interest from 10.0%, with Longer Tenure
- 7-Day-Fast Approval and Transparent Disbursal
- Small Coordination Fee After Loan Approval
- NCR’s Local Business, 100s of Happy Customers
Home Loan for 4th Floor Flat in Delhi NCR: A Rundown
MPD (Master Plan Delhi) 2021 incentivized ground-level parking by raising the permitted building height from 15 to 17.5 meters. Excluding the ground/stilt floor designated for parking, MPD caps residential floors to four (UGF, First, Second, Third).
However, some property owners increased building height by constructing a fourth floor without parking, while a few built a fourth floor with parking. This resulted in a violation of either the permitted number of floors or the building’s height. So, banks and NBFCs restrict home loans for fourth floor flats in Delhi and nearby areas like Noida and Ghaziabad. At Joy Loan, with our extensive network of bankers, we can assist you in obtaining a home loan for a flat / property on the 4th floor or a loan against property.
We specialize in securing the lowest interest rates, customized to your profile and income. To maximize success rate, we personally discuss your case with the banker before you apply. Choose us for a quick and cost-effective home loan on 4th floor flat.
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FAQ: Home Loan on Fourth Floor Builder Flat in Delhi NCR
What is Floor Area Ratio (F.A.R.) in Building Bylaws?
For public safety, local administrations permit a specific percentage of construction on various types and sizes of land. We know this ratio of construction coverage to plot area as the Floor Area Ratio (F.A.R.).
Every 20 years, city administration provides a Master Plan to inform residents about the allowed FAR.
What is Permissible F.A.R. in Delhi NCR?
Authorities permit higher F.A.R. and plot coverage for smaller plots compared to larger ones.
- In Delhi, the DDA allows an F.A.R. ranging from 120% to 350%.
- In Ghaziabad, the GDA permits an F.A.R. of 125% to 200%.
- Noida authority allows the highest F.A.R., ranging from 150% to 525%.
For further details, please see the next question.
How Many Flats are Allowed in Residential Plots?
Refer to the following chart for numbers of flats allowed for plotted development in Delhi:
In Ghaziabad, the allowed number of dwellings is as follows:
- For plots up to 50 Sq m: 1 unit
- For plots from 51 to 150 Sq m: 2 units
- For plots from 151 to 300 Sq m: 4 units
- For plots from 301 to 2000 Sq m: 1 unit per 100 Sq m of plot size (maximum 20 units)
What is the Maximum Permissible Height for Residential Plotted Developments?
In Delhi, 15 meters without stilt parking or 17.5 meters with stilt parking. In Ghaziabad, GDA permits for 15 Mts. height for plotted development.
Is the Stilt Floor Area Counted in the F.A.R.?
Stilt areas used for parking, with a height of less than 2.4 meters, are not included in the F.A.R. calculation
Do Basements Count in F.A.R.?
Basements for storage and parking are exempt from F.A.R., but governing authorities add it in F.A.R. under Mixed Use regulations if you use it for other purpose
Can a Builder Sell the Third-Floor Roof Right?
The terrace is a common area. Buyers of lower floors are given the right to use it for installing and maintance of water tanks or satellite TV receivers etc.. If such rights are granted on sale deed, the builder needs approval from the lower-floor owners to sell it.
Is Buying the 3rd-Floor Roof the Same as Buying the 4th Floor?
Owning the 3rd-floor roof grants rights to the un-built roof. Banks do not offer loans for purchasing roof rights or construction on the 3rd-floor roof.
However, if you're buying a builder or resale flat on the 4th floor, you can apply for a home loan.
Is Refinancing Available for 4th-Floor Builder/Resale Flats?
Yes, it is available as a loan against property rather than a home loan.
Where Can I Get a Home Loan for the 4th Floor in Delhi NCR?
The following localities are eligible for the loan:
- Approved colonies in all the above-mention cities (without approve map property)
- Gram Panchayat/Village Lal Dora area in all the above-mention cities
- Freehold/unapproved colonies of Ghaziabad, Noida, Greater Noida etc.
- Provisionally approved colonies in Delhi
Which Bank or NBFC Offers Home Loans for Buying a 4th-Floor Flat?
Looking for a home loan for a 4th-floor flat? Joy Loan can help you find the lender based on your profile and income, offering competitive rates and a convenient deal. Reach out for expert advice.
How to Get a Home Loan for Buying a 4th-Floor Flat?
For a home loan to buy a 4th-floor flat, choose Joy Loan. We're a local agency in Delhi NCR with expertise in the area's unique loan challenges. We offer fast, reliable service with competitive rates for a one-time coordination fee after approval.
Send us your details for a personalized solution.
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