Legal Question in Landlord & Tenant Law in India
Land Revenue Matter
I intend to establish a warehouse on Mumbai Nasik Highways for which I have purchased sufficient agricultural land from the local resident. I will submit application for change of use allowing the land to be used for non agricultural purposes. While approaching for finace to some private financier against the mortgage of title deeds registered in my name and obtained from the agriculturists, it has been objected by the Law Officer of the financier that an Agricultural Land can not be legally mortgaged because there is a bar under the provisions of the the Bombay Tenancy and Agricultural Land Act,1948. Please advice me giving details of relevant provisions and also some legal decisions of the High Court or Apex Court in the matter.
4 Answers from Attorneys
Re: Land Revenue Matter
The Law Officer is right. Agricultural land cannot be mortgaged. You can motrgage your land once you convert the use of the land from Agricultural to non agricultural use.
Re: Land Revenue Matter
Law officer is right. Convert the land from agricultural to N.A. and then mortgage the same.
Re: Land Revenue Matter
You may be able to overcome this hurdle after land use is changed by the competent authority.
Re: Land Revenue Matter
Before mortgage you have to convert the land into a non agricultural land
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