Regarding purchasing the land and registering it.
khaleel
(Querist) 03 January 2010
This query is : Resolved
hi sir this is m.d khaleel age 45 resident of hyderabad .
my father has a land of about 100 yards (that is purchased and gifted by my grand father to my father )it is unregistered land . my father told me and my brother to construct and stay as per his instructions i took ground floor and my brother took first floor and again i took second floor .and now my brother wants to sell his share which my father wants me to buy and i could not afford that . so i want to register that land and want to mortigage that property and take loan wid the bank and purchase his share . 2)i want to register that land as gift so that registration cost will be less and not for the the amount for which iam purchasing my brothers share (that is iam purchasing my brothers share for 1100000 lakhs rs) and my share which is gifted by my father can u suggest me what should i do and can u give me phone no of any advocate who can help me in hyderabad? thanks in advance
Raj Kumar Makkad
(Expert) 03 January 2010
1. You can get gift deed registered in your favour as well as your brother in his favour from your father specifying their respective shares in one gift-deed which shall save a lot of money.
2. Your brother can make an agreement to sale in your favour qua his share in the house property and you can obtain loan against that agreement from any bank of your choice.
3. I can orovide you the details of alocal counsel on tomorrow, if you require.
