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"LAND YOU SHOULD NOT BUY" THINGS TO KNOW BEFORE YOU BUY THESE LAND Lesson #3
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Real Estate 101 - Lesson #3 - Land

Apr 14, 2017

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Real Estate

Vinod Menon
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Page 1: Real Estate 101 - Lesson #3 - Land

"LAND YOU SHOULD NOT BUY"THINGS TO KNOW BEFORE YOU BUY THESE LAND

Lesson #3

Page 2: Real Estate 101 - Lesson #3 - Land

Archaeological Survey of India - Regulated land

Regulated Area: Regulated area means an area near or adjoining a protected

monument which the central Government has, by notification in the official

gazette, declared to be a regulated area.

Extent of area regulated: The Central Government has declared up to 100

meters from the protected limits to be prohibited area and further beyond it

up to 200 meters to be regulated area for purposes of both mining operation

and construction.

Is construction allowed?: Except under and in accordance with the terms

and conditions of a licence granted by the Director­General, no construction

shall be permitted in the regulated area

Page 3: Real Estate 101 - Lesson #3 - Land

PTCL Act,1978 (Scheduled Castes & Scheduled Tribes)

The ACT: "An Act to provide for the prohibition of transfer of certain lands

granted by the government, to persons belonging to the scheduled castes and

scheduled tribes in the state, which means any land granted to the landless

agricultural laborers belonging to scheduled castes and scheduled tribes,

cannot be purchased. Anyone who purchases such a property, will not get

clear and marketable title; such property will be eventually acquired by

Government and returned to the original owner without any compensation

to the purchaser."

The problem lies in the fact that when the grantee goes to sell the land which

he is not supposed to the Govt officially accepts it as a legal sale.

Later the grantee goes back to the Govt and claims this land back. The law then

says the land has to be returned to the grantee without any compensation.

Page 4: Real Estate 101 - Lesson #3 - Land

Agricultural Land

Foreigners cannot buy agricultural land in India. This is applicable to all of

India. No state in India allows foreigners to buy agricultural land

Nri’s cannot buy agricultural land in India. Yes! all over India as above.

Approval is required from the Reserve bank of India which one can assume

is not easily available and this would depend on individual circumstances.

Furthermore, some State governments in India have rules that allow only

farmers to buy agricultural land in their State and this restricts even

Indian citizens from buying agricultural land