Reg: ceiling patta
Rammohan
(Querist) 28 June 2015
This query is : Resolved
Experts,
I got an offer in Chennai for a land which is in bank auction. Enquiry nearby revealed that the land is in PATTA CEILING. Broker explained me in a complicated way but what I understood is buying such a property will result in consequence of unable to transfer patta on your name even though it will be registered in your name. Due to this, I will find it difficult to sell this property as my primary intention is to sell after few years. Also, note that this is unapproved land. Broker also mentioned there are around 30 such lands in the layout and one person somehow got the patta in his name.
My question
1. What is Patta Ceiling?
2. My understanding is correct ? i,e unable to transfer patta to my name and difficulty in selling
3. What are the other implications
Thanks in advance
Ram
P. Venu
(Expert) 29 June 2015
It is beyond the limited knowledge of the experts of this forum rise to the challenges posed by the omnipotent and omniscient brokers.
Rajendra K Goyal
(Expert) 29 June 2015
If the Bank is not able to transfer full marketable rights of the property, abstain purchasing it. Get all the documents relating to property scrutinized by your lawyer.
