Hi,
I stay in Kalyan,Thane and the property which I am willing to buy is 3 houses in a Row (i.e. Chawl) which is build on Land owned by Temple Trust (besided the chawl). The Owner of the house has build all 3 houses in 1985 with Trust permission. Now he is looking out for buyer. This property intrest me looking at long term plan. Reason this is 3 house Chawl (600 sqft) and later incase Building plan comes that will benifit me a bit as Long term retruns.
Currently I have his Tax bill which he pays and according to that he is paying tax from 1985-86 onwards. I also see that Land is still on Temple Trust name
My Queries :
a. I am not sure this is Freehold or Lease hold property (looking out for more documents). Is this Freehold Or Lease Hold term will impact to get an approval for Building plan Or is there any risk Involved buying this property.
b. Please let me know which are the documents I still need to check which might risk incase Building plan proposed.
c. Since owner paying tax from 1985 onwards once I buy later can I claim land and get the ownership of the land.
d. While buying 3 houses do I need to take NOC from Trust.
Please help me.... the money which I am carrying is 12 Lacs and this is saving of my whole life.
Thanks
