Can one apply for home loan even if land khata is not yet transfered due to akarma sakarma?
Question asked by Mr. Pratap from Bangalore, India:
I have a house in Yelahanka, Bangalore which was on my sister’s name and now has been given to me through a gift deed. The land is cmc land. The house khata has been transferred on my name, however due to akarma sakrama, we are not able to transfer the land khata as yet on my name. I am planning to construct a 1st floor and would need house loan for the same. as the land khata is not yet on my name, would it be a problem? I have approached a couple of banks but they declined due to this reason. Is there any way to get a house loan to proceed with the 1st floor construction? Kindly advice.
Thanks
Pratap
Vatsala Answers:
I am not clear about the distinction between the land khata and house khata. There is normally a Khata and a Khata extract. Anyhow the banks do insist upon having it. You can try the private money lenders or co-operative banks and take you chance.
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