Hi,
I am an IT professional working in a MNC in Gurgaon. I want to buy an individual house in Gurgaon. I have selected a house at Laxman Vihar area in Gurgaon. The area is nearby sector 4, Gurgaon. The area in under a Nagar Nigam, which is a privately held society.
Since I am going to buy this property through home loan from a bank, I am doubtful that whether this area is authorized colony or not. I have seen people can register properties of this society with this Nagar Nigam. I am able to know that banks approve and provide home loan to buyers in this area.
Am I going to make a wrong decision by buying a property from a private society?
Is there any demolition going to happen in such societies by government in future and as a result I am going to loss this property?
What should I do? Should I buy a property in a freehold and registered area and not in Laxman Vihar?
Thanks.
