Mr. A is purchased a land through sale deed mentioned as agriculture land in 1981 at Delhi. In 2012 it's regularised colony by Urban Development Department. Now Mr. B wants to buy that property. now my questions are:
1. How can I show this is residential property.( there is all ready colony there.)
2. Is there any certificate by SDM, which shows as residential property.
Please guide for Housing loan and correct the chain of property.
Thanks & Regards
If Mr. B wants to buy that property, how can you show this as residential property?
It is left to B and he can show it as per the actual use, as per the permissions/Approval and when a colony is there it is a residential property. If tax is being paid to local authority, the tax paid receipt is itself a proof of existence of a residential property.
Members can not guide on Housing loand it is the Bank that has to take the decision depending on DEVIL T. Document, encumberances, valuation, insurance, Tax paid receipts.
