Rohit Shekhawat 02 March 2023
I have purchased a land piece through local property dealer. I have the GPA of the property, but my property is not registered.
Now, I want to get loan on my property.
Can I gift my property to some and get a gift deed, in order to get loan?
Will any bank approve my loan under such conditions?
Advocate Bhartesh goyal (advocate) 03 March 2023
No, you have not title of property so neither you can gift the property nor get loan from bank.
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 03 March 2023
The High Courts and Supreme Court in numerous occasions have stated that sale on the basis of GPA in not valid. The Supreme Court in Suraj Lamp Case, in 2011 had once again categorically stated that the GPA is not an instrument of transfer when it comes to right, title and interest in an immovable property.
Shashi Dhara 03 March 2023
File declaratory suit and obtain title over it and then get loan .
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