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sale of house constructed in nilam nikathu purayidam
26-Dec-2023 (In Documentation Law)
I have purchased a land in 2011 , Trivandrum ( nilam nikathu purayidam in BTR , NOT belongs to data bank) and constructed house in March 2019. Now, I want to sell it to buy a plot near to city. Since the house is in nilam nikathu purayidam ( now UNNOTIFIED LAND, wetland act amendment) and just one year going to complete, can I sell it (any lock-in-period for this property).
please let me know.
No. nothing restricitng you. Only difficulty on such sale is there will be a hike of registration fee if property re transferred through sale within one or three or six months period from the first sale transaction. in your case tats not included either since you bought it on 2011. You are free to sell. Buyers may argue on price for being land classification seen as NILAM.
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Adv. Manoj George
Alappuzha | 200+ Answers
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