X has 30 cents of land near to a city.
Price of per cent is in range of Rs. 3 lakh.
Recently there is talks of land in that area becoming categorised as industrial area.
Now they don't give permit for constructing house over there.
So will land value decrease or increase?
What should Mr X anticipate for?
There are only talks of the land being an industrial land. The land has not been declared industrial.
However, you can convert an industrial land into a residential land by:
The land conversion takes place by applying to the commissioner of the land revenue department. The application should be inclusive of a statement which conveys the purpose of conversion. Moreover, the application should consist of details about the extent of land, names of the present and former owners, type of soil and crops nurtured in the land, mortgages, and the likes of it. The applicant can access these details from the revenue office or from the Tahsildar.
You must also furnish the required documents.
Regards,
Anaita Vas
