CONTINUATION OF MY PREVIOUS ' REAL ESTATES........', DATED 18TH MAY, 2006.

Now, what type of land/site you should deal. One cannot purchase any and every site he likes.
FULL TANK LEVEL (FTL) : Land nearby lakes(big or small), ponds (big or small), or canals falls under this category. Government fixes the ceiling of water level for all these water resources. During the course, some private lands may fall under this ceiling. In that case, the land lord has got no right to sell the land. Sometimes the land lord may not know that his land falls under FTL category. Later, his ignorance and your negligence may cause you very dearly. Whether a particular site falls under FTL category or not, may be found out from the local MRO. This restriction was imposed by Govt. for smooth flow of water for the agricultural purposes.

ASSIGNED OR ASSIGNMENT LAND :
Assigned land is always, repeat always, a government asset. Except government, no one can sell it. In good old days, immediately after Indepenedce (1947), when land reforms have taken much credence, Indian Government has decided to give surplus land to poor people who falls below the poverty line, people belonging to SC & ST categories, landless labour, of other backward classes. The pattas (ROR) in this case are called LAVANYA PATTAS. Here, these people who have possessed the surplus land from the government under lavanya patta are not the owners of the land. However they are eligible to enjoy the yeild from it. They have no rights to sell it or hypothecate or mortgage the asset. This TEMPORARY ownership goes for generation to generation, till the person gives back the land to the government OR the government for some development activity may take back the assigned land. So..... So..... find out whether the land is assigned land or not from the local MRO before you proceed further.
ANOTHER TYPE OF ASSIGNMENT. Sometimes government, in deserving cases allot land to the people who participated in the War of Independance, and also to the retired defence personnel (posthumously, injured or otherwise). It is normally 500 sq.yds in towns and cities and 5 acers in villages. There is an underlying rule that these people cannot sell, hypothecate, or mortgage this land within 10 years from the date of allotment.
Now, local MRO is your source to find out the truth.
PROTECTION FOR TENANTS ACT ( P.T.ACT).
This act came into being in 1950. And it gives protection to the tenants. It says landlords share is 40% and the tenants share is 60%. Suppose the landlord without the knowledge of the tenant divides the site into small plots and sell it and you are in the deal, take it granted you are for a RIDE. Later, if the tenant approaches the court for redressal, without any arguments, hearing and witnesses, the court directs the present occupant of the site to pay 60% of the cost of the site to the tenants. You are in a fix. Then you will not find the land lord, but only the LORD.
These are some of the basic precautions to be taken befor finalising the land deal. With the advancement of technology, the methods of cheating also very much advanced. One cannot or for that matter anybody, cannot say how, when or where we will be cheated. I feel sincerely the cause of cheating is your ONIOMANIA.
WISH YOU ALL GOOD LUCK......

CONTINUATION OF MY PREVIOUS ' REAL ESTATES......' DATED 17TH MAY, 2006.

Next important step is to find out the owner of the site, as recorded in the revenue department records. It is called the ROR (Record of Rights). Find out the real owner of the site. Or else, it ends like purchasing Charminar, or Tajmahal, or Howrah Bridge. The broker or relatives of the land lord may show you the registered document, but that is not the end. Take the xerox copies of the document and verify or find out the real owner of the site from the revenue department. Sometimes it so happens that the name of the person named in the document is not recorded in the revenue records. That means he(the person named in the registered document) is not the owner of the site. If he still claims he is the owner of the site and there is some mistake in the revenue records, it is understood that the MUTATION was not done. Now at this stage put off the deal. Because the real owner of the site is not known or the land in question is under dispute, for which the MUTATION was not done in the revenue records.
MUTATION means alteration or changes that are to be made in the ROR. After the deal is complete and money has changed the hands you will get all the registered documents, showing the site, its plan, location, boundaries, area, etc., etc., Holding this document if you think that you are trouble free, you are mistaken. Here comes the important function called "Mutation". You may apply to the local MRO, to record your name as the legal owner of the site in his office records and get the confirmation from the MRO to that affect in writing. This process of mutation takes at least two to three months to complete, because MRO has to advertise and should invite public objections if any.If nobody objects to this mutation, your name will be incorporated in the revenue records as the legal owner of the site. Now you are free from trouble or future complications. If you do not do this mutation, and sit somewhere in USA or UK, your land will be sold again by the previous owners to another person and the purchaser performs the mutation also, then imagine where you stand.
I hope I am absolutely clear in expressing my thoughts here. I don't want you to purchase Charminar, Tajmahal, or Howrah Bridge. However if you happen to purchase it, complete the transaction and see that you are the real and legal owner of that ASSET.
( continued in my next.........................)

kirtanblog
REAL ESTATES AND TRANSACTIONS THERE ON
My dear friends, the information here is not my original, but collected from various sources, codified and presented here for your information and to avoid loss or future complications while dealing or transacting in REAL ESTATE.
Go on .... and read it for your own benefit.

Suryam is a small time employee. All his friends, united purchased a site at the outskirts of the city. He got a plot of 300 sq.yds. He, availing loan from his employer and from the local commercial banks, accquired the 300 sq.yds site and constructed a small house. On that day there was a meeting of all the plot owners and Suryam was dumbfounded when he heard the news that the site they have purchased is the reminder of a bigger plot. After applying the Urban Land Ceiling Act 1978 the present site goes under the Act, and Govt will take over it. Now it is to be regularised before 31st March, by paying additional taxes/fees, which amounts to few lakhs per owner. Or else the plots will be taken over by the government. In addition to the cost of the site and cost of constructing the house, Suryam has borrowed from the local banks for the marriage of his daughter, which he recently performed. He is neck- deep in debts. Now there is no chance for him to borrow in order to pay taxes/fees to get back his site. He is waiting, waiting......... for the governmet order.....
Mr.Rama Murty is an NRI. Togather with his friends he purchased a house site at the outskirts of Hyderabad city. He got all his papers, duly registered and signed by the Sub Registrar under his office seal. After two years, Mr.Murty visited Hyderabad, with an intention to sell the plot. The sub registrar refused to register it in the name of the purchaser as the plot falls under the Urban Land Ceiling Act 1978. However, Murty enquired from the sub registrar, how it was registered in his name earlier. He got the reply, then it was not announced that the plot falls under land ceiling act and he has registered it with house number. Now from this version of the reply, he is not the owner of the plot, and there is no house on the plot.
Now, these are some of the mischiefs done by the real estate brokers, and we innocently fall prey to them. As such, I am presenting here some of the silent points that are to be observed by the prospective real estate purchasers.
If a piece of land is recorded in the records of revenue department as Government property, please note, it can NEVER be, repeat NEVER, become a private property. Everything has got a price, and so the brokers pay a price and create documents, showing it as private property and they sell it. Before the deal starts, you make your own enquiries from the local Revenue office whether it is a government property and is exempted from the land ceiling act. If you got affirmative answers, proceed further. Every family has been defined in the land ceiling act to hold a specified amount of land. It is different for cities, towns and villages. This information also you can obtain from the local revenue department, pertaining to that locality. Normally, the land owners ignoring this act, and with the help of the brokers, divide their site into small plots, and sell them. Broker is the gainer and the purchaser is the looser.And you may not find the address of the Land Lord.
REMEMBER, all your enquiries and replies thereon at the revenue department should be preferably in writing. Here you can also take the help of RIGHT TO INFORMATION ACT.
( to be continued in my next......)