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Is it legal to construct a project on undivided property?- property hotline
Posted
August 26, 2016
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August 26, 2016
476
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3:30Now PlayingExpert: Kartik Jhaveri, Founder & Director of Transcend Consulting India Pvt Ltd.
Question: I have an undivided share in property near Pune. However, without giving me my partitioned share the developer has started developing apartments on the land by fraudulent means. The developer has relinquished the property in his own name. I have filed a civil suit in the Pune court. In the meantime many private banks have approved project finance to the developer by undertaking security of the bank's money from him. How can I object to this? Is the bank authorized to do so? Is there no RBI guideline for it? This also creates a misrepresentation with home buyers that land is free from litigation as it is approved by banks.
Answer: The developer is not trespassing because he may be constructing on the part owned by another co-owner. It is difficult to distinguish which part of the land belongs to whom unless there is demarcation of owners in the original agreement. Banks would generally not approve if it did not have a reasonably high level of comfort.
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