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Hello All,

I am currently in the process of getting Plan approved from BDA for construction.

Also I am consulting an architect for designing. As usual and known the "Execution plan" would be different from "Approved Plan"
Since I am planning to go in for a loan for construction, will the loan be provided on the estimate for "Execution Plan" or "Approved Plan" ?
Can any of you share your experiences with this.

Regds,
Joshi

Banks consider approved plan only. However most banks are ok with 20% to 30% deviation from the approved plan.

Simran is right, but even different banks have different practices. Few banks like IDBI go with the 80% of estimate that is given by the valuer who visits the site. As the materials used by you might be premium ones and may value more than the normal. But when you submit the estimates, you have to give as per the approved plan. Also, you can include the cost for Interior wood works like Wardrobes, Kitchen etc.

-Santosh