Loan Against Property

Loan against Property is a secured loan. If you own Residential or Commercial property you could utilize the value of the same by opting for mortgage loan. The property papers are retained as security for a loan at a much lesser rate than personal loan

The ownership of the property is retained by the owner. In case of inability to repay the loan the property could be disposed of to repay dues.

Loan against property can be taken either for personal or business purpose like working capital, business expansion, repayment of expensive loans etc. Option for an overdraft facility is also available.

Loan against residential property

Loan against commercial property

Residential property without income

Lease rental discounting

Loan for real estate developers

Gram Panchayat Property

The Panchayat Raj System is a form of local government organisation that is present in rural villages and towns of India. It is the foundation by which the self-government body operates in India and it is chiefly headed by the Sarpanch. During the British colonial rule, the panchayats were granted with great powers, but have lost their importance post the independence of India. India re-introduced the Panchayat raj as a self-governance system in 1992 after local matters were disregarded and remained unsolved. Today, we have over 265,000 gram Panchayats in India, at least one for every town.

Buying Land Under the Gram Panchayats

Buying land that is listed under the gram panchayat requires converting land that has been listed under agricultural use by paying a nominal conversion fee to the government. However, potential buyers have to keep a note of several factors before deciding to purchase a gram panchayat land for residential purposes. A computer generated Khata is mandatory as a submission proof in order to buy a gram panchayat land. The government, in agreement with the stamp and registration department, ]has introduced the Khata system to prevent any fraudulent deals, especially as submission of the Khata is a must.

Here are some points you need to keep in mind before buying gram Panchayat Land:

Ensure to pay the conversion fees for the conversion of agricultural land for use as residential property. Usually it is around 6 per cent of the registration fees.

Does the land comply with the layout category it falls into?

If the land is not on the outskirts of the city, ensure you comply with the panchayat layout rules and guidelines.

Be sure to leave 1/3rd space of the land as open space. Be sure to check with the municipality or the gram Panchayat for clarifications. In some conditions, there is a waiver.

City and Industrial Development Corporation (CIDCO)