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Is selling plots through schemes/lucky draws legal?
15-Sep-2023 (In Property Law)
Respected Experts...I have purchased a land and developed it into Plots... i m selling those Plots on installment basis.. Th time period for to purchase the plot is fifteen months .. Total five instalments are there of three months Each.. In every instalment i have decided to choose one lucky winner within the customers by lucky draw method...The lucky one will get the Plot as the winner...That mean that customer don't Have to pay next installment....So, this type of Lucky draw will take place at every instalment ...it means at every instalment one customer will get the plot as a prize of Lucky draw and he don't have to pay full amount of the said plots.....Is that legal or illegal in the eye of law or not as far as the land laws of Maharashtra and IPC is concerned ??
In India there is a law prohibiting lottery, but the law Prohibiting lottery has an element wherein a person loses his all investment in case he does not gets lucky draw in his/her won favour but where a person who does not gets any prize till the end but gets the products he has paid for (for example a hanky) then such a scheme cannot be termed as "Lottery" . Hence it is totally legal.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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As far as i hav understood, this kind of lucky draw can be accepted till everyone is getting land allotment one by one coz as per law if any one is paying you and you are accepting the consideration amount for the said property, you hav to allot it either before or after their installments r paid. Incase there is some miscommunication or factually missed out anything then pls contact me.
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Adv. Krinjal S. Ahuja
Mumbai | 100+ Answers
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