Ansh 21 May 2017

Purchase of Tribal Land in M.P.

A tribal friend has approached me to invest in purchase of land in M.P. from other tribals which will give higher returns in future. As he is short of money he has asked two of our friends to invest now and disrtibute the profits later on sale of land. Is this possible that we finance him for shortfall amount and later get profits. Or we should enter into any type of agreement/deed. Will this not go into Bemami properties? As registration of land can only be on his name being tribal what other precautions and steps need to be adhered? Can anyone finance or even give loan to tribal for such purpose in M.P.?

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Ms.Usha Kapoor (CEO) 21 May 2017

pLEASE CHECK WHETHER IT IS ASSIGNED LAND FOR TRIBALS AND IF NO SUCH THING IS THERE YOU CAN BUY.aLSO madhya Pradesh Government is giving permission to CONVERT AND SALE NA( Agricultural lAND INTO nON aGRICULTURTAL LAND THUS EASING THE PROCESS.sEE BELOW..

Ansh 21 May 2017

Thanks ma'am for the valuable information. Can you please throw some light on type of agreement to be made between us and also whether the tribal friend can buy complete land on his name and Is he liable to face any enquiry regarding balance source of income although his contribution will be 33% only? As 67% contribution is from us will our name reflect anywhere in registration etc.