Need clarification on GP of a property

i had a loan in bank against property of 5000000 of 75000 emi per month..on e person came to me and said i will clear your loan in bank..u have to do GP YOUR PROPERTY .. and u can give the amount after u earn the required money.. here i wnt to know what is GP OF PROPERTY

Answers (1)

78 votes

Loan against property in bank is safe compared to private persons. Sale cum GPA to the private persons is not advisable. Once the sale cum GPA given to a person, the property Rights belongs to him. You don't have any Rights on your property. Please consult your legal advisor for more details or e-mail me for more details.
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