Loan on pagdi system

kunal (Querist) 18 April 2014 This query is : Resolved
We Reside in a Pagdi building in Grant road, the rent receipts is in my Mother name & We Paying Rent to our Landlord The Problem is our Landlord is hassering that to sell our room but we dont beoz is onliy our sorce of income we has given our house in rent &the thing want loan Aganist property so Is Possible that we get the loan

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ajay sethi (Expert) 18 April 2014
how can your mother as tenant sub let the house without landlord consent ?

landlord can file suit for eviction against your mother . better evict the sub tenant immediately .

you cant obtain loan against tenancy premises as any bank would insist on landlord consent . in your case landlord wants you to evict the house . you wont get any NOC from landlord

Rajendra K Goyal (Expert) 18 April 2014
Loan can not be taken on tenancy premises as it can not be mortgaged by tenant. Agree with the advise of ajay sethi sir.