ABHIJEET PARIKH (Bcom LLB MBA) 30 December 2011

Query : land development

Respected Members

I have Query in mind ......

I had purchsed a plot of land in name of my Father in the region of Andhra-Pradesh Closer to Banglore

The Title of the property is clear and my fathers name is displayed in its EC - Card and property card ...

The status of Plot is agriculture now and I will be applying For NA

Now I have Following Query

1. I want to develop this plot and make resort over there ..... and I want to get some financial assistance from Banks/Financial Institution for its development how to go about it ... what will be the documentation requirement to get the financial assistance or loan

2. As said plot is in individuals name what kind of entity formation ie LLP HUF or Pvt co will help me to get maximum financial assitance for the resort project.....

Regards

Abhijeet

Reply Follow

1 Replies

H.M.Patnaik (Proprietor) 31 December 2011

Dear Friend,

After getting the status of the plot converted into Industrial , you have to take following steps:

1) Approach a bank/ financial institution with your project report and financial credibility and prepare the loan proposal in the format prescribed by the concerned bank/ FI.

2) Considering the quantum of finance reqd. and level of operation, a local C.A. can guide you to decide the type of organisation you have register to run your business.