Legal Question in Real Estate Law in India

Sir,Four months back I have purchased a land for that I have taken a loan from the bank.The bank advocate verified all the documents and after his cleareance bank has sanctioned a loan to me.The land is registered in my name.Now I came to know that the property belongs to local panchyat.Please guide my what course of action i should take,because bank is telling i have to repay the loan


Asked on 12/08/12, 4:10 am

4 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

08.12.2012

Dear Sir / Madam,

Please ascertain whether the bank has actually disbursed the loan amount to the seller. Have you paid the prescribed applicable Stamp Duty for purchase of the land at the time the land was transferred in your name ? If yes, please make an application to the local gram panchayat office furnishing the detail of payment. If no, please pay the prevailing Stamp Duty and obtain a clearance letter to this effect.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line assistance at [email protected])

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Answered on 12/08/12, 5:49 am
uttam Tibrewal

as the land belongs to panchayat land has they informed you or demanded back their land....

if the land was gram panchayat land how was the land transfered in ur name write an application to the local gram panchayet and registrar office for this mistake and the compensation and mental harrashment you had suffered all this while..

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Answered on 12/14/12, 9:44 pm
Shrichand Nahar S.V.Nahar, Advocate

Bank is not responsible for the title. If after giving loan, bank come to know that property mortgaged with it is not enforceable, then bank may ask for repayment of entire loan.

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Answered on 1/16/13, 3:12 am


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