• Buying a plot in township

Hello
Nanded city is built under TP act in Pune (Township Planning).
I have visited nanded city's bungalow plot project. They are selling plots from 2400 sq ft to 500 sq ft. They are not putting purchaser's name on the 7-12 extract. So I think the plot will not be on my name. So what is the legal aspect of such a sold plot in township? They say that once sales deed is done, we will give you possession. After the possession I can start my bungalow construction. The salesperson was not able to answer my question "If the 7-12 extract will not have my name as a owner, then how can I sell this plot to someone else after 10 years? Or even how a bank can give me loan today to purchase this plot?".
Is there something different for Township act in pune for such cases of selling a plot? How do I ensure secure and legal transaction here?
Note- ​​​​​​​The plot is NA-Residential category.
Asked 3 years ago in Property Law
Religion: Hindu

2 answers received in 10 minutes.

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5 Answers

Once you purchase a vacant site for construction of a structure on it  of your choice subsequently, then you become the owner of the property by the virtue of the registered sale deed on your name.

If you are considered as an absolute owner of the property with clear and marketable title then there is no reason that the revenue department will not transfer the land revenue records to your name.

You may first of all confirm that if the landed property you intend to buy is a freehold property or leasehold property.

If it is a leasehold property then you cannot get the 7/12 records transferred to your name as an absolute owner of the property purchase by you.

In this situation it is advisable to not to buy the property without knowing the proper details of the property or without obtaining a proper legal opinion from a local lawyer on this regard. 

T Kalaiselvan
Advocate, Vellore
87794 Answers
2364 Consultations

Your name should be reflected in revenue records as owner of property 

 

you would not be able to sell the plot if revenue extracts are not in your name 

Ajay Sethi
Advocate, Mumbai
97592 Answers
7899 Consultations

- This 7-12 extract serves as a proof of the land title , and it can be used to check any previous conflicts associated with the property , and hence this document is also required for sale transaction at Sub-registrar’s office.

- Further, for taking loan this document is required by the bank in some of the area . 

- Further, after the sale deed in your name , you can get the same from the revenue department , however in the absence of this document you cannot sell the property .

Mohammed Shahzad
Advocate, Delhi
14773 Answers
225 Consultations

Dear Sir/Ma'am, 

1. the 7-12 extract that you mentioned, can be used for verifying previous association with the said property and is also a proof of title. 

2. in certain cases the document would be required for a loan and for a sale transaction. 

3. if this is not available, you need to ensure that the sale deed has your name in it and ensure that you get the same from the revenue department. without the same, you will not be able to sell your property.

Thank you 

  • For further assistance, you can book a consultation with me. 
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Anik Miu
Advocate, Bangalore
10413 Answers
121 Consultations

Dear Sir

Whenever you get any doubt at the time of purchase property and whenever the seller unable to answer your question then it is not wise to invest in such properties.

Kishan Dutt Kalaskar
Advocate, Bangalore
6193 Answers
492 Consultations

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