Converison of Residential property into commercial property
Karan
(Querist) 03 January 2018
This query is : Resolved
Hello.. I have a residential property in Moradabad(U. P) purchased from UttarPradesh Awas Evam Vikas parishad and i want to convert the same property into commercial. My property is located on national highway. Is there any rule by which my property can be converted into commercial one.
P. Venu
(Expert) 04 January 2018
Ha d you applied to the authorities concerned?
R.Ramachandran
(Expert) 04 January 2018
It is a residential accommodation. It cannot be converted into Commercial property. THIS YOU ARE ALSO FULLY AWARE. Therefore don't unnecessarily waste time here.
Sankaranarayanan
(Expert) 04 January 2018
Approach the concern authority and verify the same
kavksatyanarayana
(Expert) 04 January 2018
If the zoning rules and the housing society management rules allow it, you can use your residential property for commercial activity. However, states have different sets of rules on conversion of residential property to commercial property. Some states allow up to 30 per cent area of a house to be put to commercial use by professionals. In case your state allows this, it is necessary to get an approval from the housing society before conversion of residential property to commercial property. Depending on the nature of the business, it may also be necessary to obtain permission from the local municipal authority for the conversion of a flat into a commercial establishment. Once a property is marked as commercial property, it would be treated as a commercial property for all purposes, which includes paying more as property tax.
