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Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

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Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

Last updated: July 18 2010
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  • Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

    All I would like some clarification on few terms I came across. I think I can get more clarification in here since people are more knowledeged in real estate. Its like I came across a plot in chowdry nagar and broker was quoting 1.05C, while another land was quoted by another broker a little far from this place 1.2C. I asked the later broker that a place better than this costs me only 1.05C and 1.2C is way too much. So now this broker who quoted 1.2C says that chowdry nagar many places comes under TNHB ceiling, hmm now whats this new thing :-( and how can such things be verified. If any people live in this area please shed your thoughts on the same.
  • #2

    #2

    Re : Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

    In valasarawakkam, many areas are under housing board ceiling. you can get that verified in the nearest revenue office.

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    • #3

      #3

      Re : Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

      What does ceiling mean ?

      Please do explain in detail what does it mean ? What would be the problem if I have bought a land on the same ?. Please do explain me a bit on the same. I know registration doesn't guarentee that the land belongs to you. But would they still register if the land is in this ceiling .. I am a novice on these terms please do explain in detail. Thanks in advance. and please do jot down those areas which you are aware of that comes in this ceiling ...

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      • #4

        #4

        Re : Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

        Originally posted by balab1405 View Post
        Please do explain in detail what does it mean ? What would be the problem if I have bought a land on the same ?. Please do explain me a bit on the same. I know registration doesn't guarentee that the land belongs to you. But would they still register if the land is in this ceiling .. I am a novice on these terms please do explain in detail. Thanks in advance. and please do jot down those areas which you are aware of that comes in this ceiling ...
        As far as I have heard, The urban land ceiling act is not enforced citing it has been repealed by some high court.

        There are two aspects

        1.Urban land ceiling act 1978 which prevents individuals and families to hold large amount land within the city i.e not more than 500 sq.mts and 2000 sq.mts for individuals and families respectively.If land is kept vacant urban land tax is levied.

        2.During the formation of CMDA in 1970, heard they acquired vacant poromboke land and from people who hoarded lands and handed over to TNHB to be redistributed and not sold to anyone.This is mostly applicable only to large extent of vacant land available within the city.This could be the ceiling that's being discussed here.

        I really wish someone could throw more light on urban land ceiling act and validate what I have stated above.

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        • #5

          #5

          Re : Buy or Not? Plot for 1.5Cr at Valasaravakkam, Chennai

          Originally posted by nabishek View Post
          As far as I have heard, The urban land ceiling act is not enforced citing it has been repealed by some high court.

          There are two aspects

          1.Urban land ceiling act 1978 which prevents individuals and families to hold large amount land within the city i.e not more than 500 sq.mts and 2000 sq.mts for individuals and families respectively.If land is kept vacant urban land tax is levied.

          2.During the formation of CMDA in 1970, heard they acquired vacant poromboke land and from people who hoarded lands and handed over to TNHB to be redistributed and not sold to anyone.This is mostly applicable only to large extent of vacant land available within the city.This could be the ceiling that's being discussed here.

          I really wish someone could throw more light on urban land ceiling act and validate what I have stated above.
          ULC act has been repealed but any land already acquired by the govt under ULC will remain as Govt land.
          So check the revenue records and find the current owner if it is govt then you cant buy it.

          In case of TNHB you have to necessarily get an NOC from them specifically for the land in question.I know a case in annanagar a project by dakshin constructions near the malayalee club wherein they got approval from the localbody,patta too,then the TNHB moved the court and the patta was canceled (can you believe it).
          exercise double caution when dealing with TNHB and cieling lands.

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