Legal Question in Construction Law in India

I have a residential plot in surat and its termed as owners plot. I have agreement registered in smc (surat minicipal corp) recently and paid stamp duty of 104000/- .Its a residential society with plot size of 20 * 40 vaar (1 vaar = 9 foot) and consists of raw houses and is developing quickly. Plot is owned by me but its termed as owner's plot where owner plot I think means plot of developer of the society...The society was developed by my cousin & my dad and many of our relatives had their names in 7/12 of land. Unfortunately my cousin is no more & this plot is being given to me by him. When i asked the concerned person about selling it , i was being told that the plot is shown as owner's plot and not the normal plot in Society Plan which hs been submitted to smc during plan pass and I myself can avail loan on the plot to construct but if I sell the plot to anyone then he would not be eligible to get loan from the bank. Now when I have paid required stamp duty and have valid agreement (Dastavej) of the plot then why cant I sell it and seller can avail lon on it...I request to kindly let me know weather this is real law or am being misguided so that i may sell off my plot at discounted price. my email id is : [email protected] and your suggestion would be highly appreciated.
Regards,
Hemal

Asked on 12/25/13, 9:22 pm

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Without seeing all the documents, it will not be proper to answer your question. Please consult a local lawyer for this.

Answered on 12/26/13, 10:16 pm

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