Loan Against FourthFloor Flat / Property in Delhi

In MPD 2021 maximum height of building was revived from 11 meters to 15 meters along with additional dueling unit. For constructing of 3rd floor, owner of 2nd floor with roof right was required to take NOC from ground floor and first floor owner. After 2012 court judgement Delhi Government instructed the MCD to no longer make it mandatory for occupants of 2nd floor to have a NOC from ground floor and first floor owners if it was satisfied with the safety of the building.

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First thing first. Generally Terrace is considered a common area. While selling property, buyer of all floors are authorized to use common stairs and terrace to install and maintain water tank / satellite TV receiver etc. If buyer of any of lower floor is given such right in registered deed, sale of terrace cannot happen without their approval. In such scenario, if 3rd floor owner is selling terrace rights, sale cannot happen unless owners of Ground, First and Second Floors do not relinquish their right through conveyance deed. Seller may give you terrace right, still construction is not allowed.

You question, is it risky to buy 4th floor flat: Yes it is 100% risk.

Find out 2 reasons due to which 4th floor construction is not allowed

Is Fourth Floor Allowed for Construction in Delhi?

There are many builder selling third floor roof rights with registry. There are 2 issue with this. First question is: Are they allowed to sale, second question is, even if they sale, are you allowed to construct it. Or if you buy built up 4th floor, is it legal?

There is lot of variation in FAR allowed depending on plot size in Delhi. It varies between 120% – 350%. You can see approved FAR for plotted development on page 49 in Delhi Master Plan 2021.

Home loan on 3rd floor flat is conveniently available when plot owner had taken approval from authority with sanction map. In such authorized construction, you must leave sufficient set back (Empty space) on ground, first and second floor, so construction on 3rd floor does not covers above approved FAR.

In NCR Delhi & Noida has highest FAR limit up to 350%. On other hand in neighboring town of Faridabad and Gurgaon it is only 175%. Many properties are built in Delhi / NCR which has excess FAR coverage. This results difficulty in getting home loan on such 3rdfloor flat.

In Delhi / NCR there is no height restriction on group housing society subject to approval from Airport Authority Of India, Fire Department, Structural Stability Approval and other requirement depending on different cities of NCR

Height of building

As per MPD 2021 height of 15 meters was allowed for plotted colonies in Delhi. This height restriction was for Stilt parking + 4 Floors (Ground + First + Second + Third). Property owners were facing difficulty to accommodate these floor within height of required 15 meters. So they were compromising height of each floor.

In 2013 DDA increased height to 15 meters without stilt parking and 17.5 meters with stilt. But MCD is unable to sanction building plans with 17.5 meters without Delhi Fire Service approval.

Delhi Fire Services considers building taller than 15 meters as high rise construction. As per DFS rule they only gives NOC to high rise buildings which leaves six meter set back around building. This allows easy movement of fire tenders in case of emergency.

It was proposed, properties which had stilt parking within 17.5 meters height will be exempted in DFS high rise construction clause. But it never happened. So MCD still approves buildings up to height of 15 meters without DFS NOC

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Number of Units Allowed

Apart from height of building, authorities also gives guidelines for FAR (% of covered area based on plot size) and Dueling Units allowed based on plot size. I have taken snapshot from MPD 2021 on plotted colonies. See Details Below

With majority of plots in Delhi are below 250 square meters, they are allowed to make maximum 4 dueling units on plot (G+1+2+3). There is no amendment for increasing Dueling Unit, it makes 4th floor illegal

Other important point in MPD 2021 for plotted colonies is as below

  • Stilt area of non-habitable height (less than 2.4 meters), used for parking, shall not be included in FAR but would be counted towards the height of the building.
  • Basement shall not be counted towards FAR if used for purposes permissible under Building byelaws namely household storage and parking.
  • Basement if used in terms of Chapter 15.0. Mixed Use regulations shall count towards FAR
  • The mezzanine floor, and service floor shall be counted in the FAR.
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Terms for Loan Against 4th Floor Flat / Property in Delhi

You can get loan against your 4th floor flat / property subject to certain terms. Important point is financial institutions does not offer loan against 4th floor flat for salaried customers. It is because of very high risk product. This product is specifically for self-employed like you. Loan against 4th floor flat is given for comparatively lower period with lesser exposure. Below are important details for loan against 4th floor flat / property

  • Available for only self employed
  • No extra coverage outside plot area ( Technical Deviation on case to case basis depending on % of extra covrage )
  • Loan up to 50% market value of property
  • Loan tenure 7 Years
  • Maximum building height 49 Feet
  • Loan up to 50 Lakhs for property area less than 100 yards
  • Loan up to 1 Crores for property area more than 100 yards

Many people raises quarry, how a 4th floor flat can have a height less than 49 feats (15 meters)?

There are many building in Delhi which have made a “Real Lower Ground Floor”. It means their LGF is lower than 2-3 Feet below ground level. There are many building with basements built in it. Though when people transact such property, they mentions 3rd floor in registry documents. But technically speaking it is a 5 story building. Bank’s technical staff considers it 4th floor. There are many buildings built in 2007 – 2013 which actually compromised roof height of floor to 9 feet, keeping all floors height below 49 feet.

Cases with stilt parking + 5th story building on top of it will certainly cross height of 49 feet. Such loan against 4th floor cannot be done.

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Which Bank / NBFC / Financial Institution Gives Loan Against 4th Floor Flat / Property

By seeing details above you know it is very difficult to convince any bank for loan against 4th floor flat. Many  third floors are built without approved map, they too cannot easily get loan against without map third floor property. It may be very difficult to get, when you pursue your loan application yourself. There are other loan coordinator who will misguide you about process, causing you lot of frustration and lose of time.

But not with us. When you choose us for your loan against 4th floor flat / property, we take care of choosing right bank for you. We prefers to discuss your complete file personally with bank even before login happens. You gets complete knowledge of rates of interest on loan against 4th floor flat, right offers especially for you depending on your profile and income

When you choose us we guarantee tremendous profit generating options like no our other competitor. We will get your loan against 4th floor flat / property at fraction of cost you will spend anywhere else. So why pay extra? Submit your details with us right now.

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How to get Loan Against Fourth Floor Flat / Property

Are you frustrated for not being able to get loan against 4th floor flat? Do you want to expend your business but struggling in need of money? We are here to help you.

You have this precious opportunity to take expert advice & our proven profitable services. submit your details right now to get best deal on loan against 4th floor flat / property. With us you don’t have to do long meetings with your hectic schedule in banks. We do entire dealing with bank on your behalf and collects documents from your convenient place and time.

Our team provides door step service in entire Delhi. We ensure fast approval and disbursal of loan with high standard of transparency. When you gets all documents ready, we can get you loan against 4th floor flat / property in 2 – 3 week time

For loan against without map 4th floor flat, we charge onetime loan coordination fee. This small fee ensures that you gets smooth sanction and disbursal of your loan against 4th floor flat. Be assured, you will pay our coordination fee only after sanction of your loan. So you lose nothing when you submit your details with us.

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Remember! With our competitor, you will lose your precious time, still they may not be able to get you loan on your 4th floor flat. If you have already been to any of our competitor, then you already know how frustrating it is to deal with them.

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