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Procedure in case lawyer of finance company not clearing the loan
27-Sep-2023 (In Property Law)
I applied loan in a finance company, all are set but bank's lawyer is not approving legal clearance because land conversion no not updated in 11b khata, wen went grampanchayath they before land conversion only you have applied for 11b so after issued 11b, we can not Update your land conversion in 11b khata they, but grampanchayath pdo given letter mentioned sakala approved land conversion no, but the lawyer not at all clearing because of no details of land conversion details in 11b
A. Any land utilization for the residential or any other purpose apart from the agricultural need to be converted under Section 95 of the Karnataka Land Revenue Act, 1964. Hence, conversion of the property is mandatory. Further, once the property is converted that the property will get khatha from the local authority which means Grama Panchyath in your case by issuing Form No.9 and 11. In this regard, if the property is not converted then only the GP will issue 11 B register for the Khatha Assessment. Hence, 11B won't be accepted in the bank for the approval concern.
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There is no way you can do anything to make the Bank`s lawyer give a positive opinion to your property because he is there to protect the interest of the Bank which has hired him/ her. You say that after you bought the site the land was converted , but it appears that still your site cannot have approved layout plan. You should find some finance company not insisting on these.
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Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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Hi, for clearance of housing loan you need to give the required documents to the bank, i.e, EC, Katha, Registered sales Deed, and KYC Documents, Better you go to the gramapanchayath and collect Katha that is manual or electronic. If they were not respond to you just you have to put the application under RTI regarding katha sheet.
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Adv. Hareesha Arksali
Hubli | 25+ Answers
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