Legal Question in Wills and Trusts in India

Dear Sir,
This is Mr.Reddy having Half Acre Open Land in Hyderabad City Outskirts worth 34.5 lakhs(govt.price). I want to form a Private Trust to benefit Weaker People (aged & children), Friends & Relatives also.
My idea is to construct a Recreation Club & a Small Scale Industry for Income to run an Oldage Home & Orphanage.
Will the Banks give a Loan initially by Mortgaging my Land for Constructing the above said Infrastructure. If so, what are the Documents Required.
or Suggest me How to Mobilise/Raise Funds for our New Private Trust Infrastructure.
also Tell me How much time it takes for a New Private Trust Registeration & Charges.
Regards,
Reddy..

Asked on 9/02/10, 2:17 pm

RAJIV GUPTA (Cell: +91 9811284735) [email protected]

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you may go for an NGO.

Answered on 9/03/10, 12:53 am

Vishwa Arya Arya & Co.

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The banks dont give loan to NGO. For NGO, the only source would be donations and government.

You may register a private trust and then raise loan by mortgaging

Answered on 9/03/10, 8:04 am

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