635+ Lawyers are online 
SARFESI act and its guidelines
01-May-2023 (In Documentation Law)
Weather SARFESI act will be applicable will be applicable on a vacant land , where it is mentioned in the sale deed as residential property and being used for agricultural purpose. and same time if there is no government guideline rate for agricultural land, in the mauza where land is situated ( as per Sub registration office it is urban area).
If it is agricultural land then the said land cannot be sold by bank or financial institutions. As per Section 31(i) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the provisions of the SARFAESI Act do not apply to any security interest created in agricultural land.
The issue as to whether land is agricultural or not would have to be decided by Tribunal
The issue as to whether land is agricultural or not would have to be decided by Tribunal
Helpful?
190+
190+
Adv. Siddhant Sharma
Delhi | 200+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Documentation lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
