Acquiring obc property in jharkhand
tapovardhan
(Querist) 10 February 2012
This query is : Resolved
There is a location in Jharkhand near Tilaiya where nearly all properties belog to OBC category.
We need to start some industry in the area. This requires land. There is state government notification that OBC land can be purchased and mutated by another obc only from the same district.
Please advise on the teenability of the following:
1. I get a "FRIEND" obc.
2. Friend OBC buys the land.
3. For this, I lend the money to Friend obc at 12%
4. after mutation, friend obc leases it to me for 33/99 years on monthly rental with irrevocable POA for subletting for the period.
5. Or i make friend obc a minority partner who contributes land for the factory at say some 5% or 10% share.
6. Is above arrangement legally sustainable??
pawan sharma
(Expert) 10 February 2012
as per your concerned you are not belon to OBC category. if OBC person leases to other category it is not the violation of the said G.O. Therefor, you can take the property in leases bcz leases is not to amount of the sale.
adv. rajeev ( rajoo )
(Expert) 10 February 2012
please go thru., the conditions imposed by the Govt., because there would condition of " not to lease" also.
Shailesh Kumar Shah
(Expert) 11 February 2012
If you post/attach government notification here, then opinion can be formed. or you can seek advise from local lawyer.
prabhakar singh
(Expert) 11 February 2012
Yes!
Mr.Shah is right,none of us can give you right opinion without that notification.
