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Hiren Trivedi (CEO)     28 June 2012

Mortgage of agriculture property

Dear Sir

Let us know can schedule bank mortgage Agricultural property for commercial loan with registerd mortgage?If yes than How can Mortgage the same-under which Law?Is any schedule bank mortgaged The same?pl.explain.

Thanks-with Regards

HIren Trivedi

hiren.t@rediffmail.com



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 6 Replies

pervez (adviser)     28 June 2012

Dear, unless the property is converted for non-agriculture purpose, no commercial bank can give loan for commercial purpose on the security of agriculture property [ even if it is offered as registered mortgage].. It can only be for agriculture loan i.e. for purchase of tractor, seeds, fertilisers etc...

Exception -if the area in which the land  is situate falls under municiple are or master plan of that city, it is possible.. pl. check at yr end...

pervez (adviser)     28 June 2012

Dear, unless the property is converted for non-agriculture purpose, no commercial bank can give loan for commercial purpose on the security of agriculture property [ even if it is offered as registered mortgage].. It can only be for agriculture loan i.e. for purchase of tractor, seeds, fertilisers etc...

Exception -if the area in which the land  is situate falls under municiple are or master plan of that city, it is possible.. pl. check at yr end...

Hiren Trivedi (CEO)     28 June 2012

Dear Sir Yes ,the property comes under Municipal Area and it was NA but by some reason the NA permission was withdrawn-The sale deed also being made.Only due to cancellation of NA permission -banks advocate refusing for TCR hence bank is not considering the same. Pl.advice you view.

Hiren Trivedi (CEO)     28 June 2012

Dear Sir

Yes ,the property comes under Municipal Area and it was NA but by some reason the NA permission was withdrawn-The sale deed also being made.Only due to cancellation of NA permission -banks advocate refusing for TCR hence bank is not considering the same. Pl.advice you view.

Hiren Trivedi (CEO)     28 June 2012

Dear Sir

Yes ,the property comes under Municipal Area and it was NA but by some reason the NA permission was withdrawn-The sale deed also being made.Only due to cancellation of NA permission -banks advocate refusing for TCR hence bank is not considering the same. Pl.advice you view.

Hiren Trivedi (CEO)     28 June 2012

Dear Sir

Yes ,the property comes under Municipal Area and it was NA but by some reason the NA permission was withdrawn-The sale deed also being made.Only due to cancellation of NA permission -banks advocate refusing for TCR hence bank is not considering the same. Pl.advice you view.


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