nayudu (proprietor) 05 July 2011

Property advice please

HI,

I am Nayudu .... I need a sincere advice.... I had a property of 350 sq yards plot with single document..... In which 125 sq yards is constructed rest 175 is vacant land..... In Andhr pradesh in our municipality... we have government order stating that site more than 250sqyards a floor must be mortgaged.....

Now i am interested to construct in vacant site area which is 175sqyards bcoz of single document..... municipalityis asking me to mortgage.... So pls advice how can i divide my document in less expense.... if i go for gift deed from my wife to me its costing 1,50,000/-

pls let me know best alternative way.....

thanking u,

ngopal.....

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1 Replies

pawan singh (avp) 06 July 2011

Dear All,

I am from Shashi Garden, Mayur vihar I, Delhi. I have purchased one builder floor in Shashi garden. After one one year I Shaw one notice pasted on my building from SBI regarding loan amount (which was taken by land owner without our knowledge). I enquire about the loan and i got information that bank has given a credit limit of 18L to owner against mortgage of Ground & 1st Floor. The owner has sold all the 10 flats in building & she is not reachable at present.

My property is on 2^nd Floor. Is there any liability against my flat or I have to also pay the loan amount. My second question is that “is bank have any right to give loan or credit limit on LAL Dora property.

Please advise me urgently.