Is share certificate legal for na plot

Nikhil Angeer (Querist) 28 April 2024 This query is : Resolved
Na plot developers mentioned that individual 7/12 won't be given however society will be formed for the project and a share certificate will be given. Wanted to know if this is correct or something is fishy here ?

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A developer is offering a share certificate instead of an individual 7/12 extract for an NA plot, forming a society instead. While a share certificate might be issued, it's crucial to verify the land's non-agricultural (NA) status and obtain a certificate of conversion from revenue authorities. Seeking legal opinion before purchasing is highly recommended to ensure the transaction is legitimate and your ownership is secure.

T. Kalaiselvan, Advocate (Expert) 29 April 2024
The 7/12 is a revenue record, once the property is subdivided then the individual owner of each plot is entitled to a 7/12 certificate on his name for the plot that he purchased by a registered sale deed which was subsequently sub divided.
First confirm that whether the status of the land is still agricultural or has been converted to NA.
Obtain a proper legal opinion before buying it.

kavksatyanarayana (Expert) 30 April 2024
Yes. First confirm whether the land is converted into Non-agriculture and obtain a copy of the certificate of non-agriculture by Rev. authorities.

Nikhil Angeer (Querist) 02 May 2024
Thank you for your guidance this helps !

T. Kalaiselvan, Advocate (Expert) 10 May 2024
You are welcome for your appreciations.

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