about land

This query is : Open

Mahathi kalathur (Querist)
Follow

21 December 2016 after demonstration of old 500 and 1000 rupees there is tremendous change in cost of land in am getting confused that cost will increase or decrease

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

21 December 2016 now that Old High Denomination notes are deposited in huge quantum, there would be an increase in due course

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

21 December 2016 Sir after demonstration construction work like apartments are decreasing value not only this but also luxurious goods

Upgrade to CAclubindia Pro. Subscribe Now!

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

21 December 2016 In short run this may happen, but in long run the prices are going to be increased, if the demonetisation becomes a failure

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

21 December 2016 Sir if demonstration success then automatically luxurious goods price increase and perishable goods minimum needs of people will increase price know

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

21 December 2016 Sir for example there is a family they has no income but they have small land (which can be used to built apartment) cost of that land in market rate nearly 4.5 crore, for apartment bank provide loan up to 3.5 .owners of land father and two daughters, daughter are minnors so they went for court for development permission, case is continuing, builder is agreed to built apartment but after getting permission from court .that father had maximum 1 crore loan from different people, children's are studying, father has no amount to feel also.

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

21 December 2016 can you give solutions for this example this is not only example but real life

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

21 December 2016 why the court permission is required?Can you please elaborate?

Upgrade to CAclubindia Pro. Subscribe Now!

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

21 December 2016 as daughter are minnors so for there part we have get court permission because that land was gifted by there grand father so father has no right on that land .he is only gaurdeen for their daughter land

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

21 December 2016 exactly I don't know how much of land but divided into three in the ratio of 2:1:1

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

21 December 2016 If father has no right except that of guardian, he should wait till the daughters become MAJOR. (Better get accurate details so that the advice can be given )

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

23 December 2016 land-40sents. 40 sents divided among threemembers (father ,two daughters)

Upgrade to CAclubindia Pro. Subscribe Now!

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

23 December 2016 two daughters age are 18years,15 years.they part land is guardian by their father.he has no employment, he given surety to one fellow he escaped and that liability also fell on him,now he has liability about 1 crore they had no option to clear that liability so they want give that land for development so that for that they will get advance of 50 lakhs so half of burden can be clear but his daughters are minnors so he want to get permission from court.

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

23 December 2016 if he wait till there major then his liabilities will become double or thrice of his liability so he has no option, if he still waiting for there major then how he will maintain his family they even don't get any benefits of government, they are OCs due to certain situations in there village he don't have ration card.then tell me sir in this situation what decision will be good for that family

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

23 December 2016 he even don't like to keep insolvency

Upgrade to CAclubindia Pro. Subscribe Now!

Mahathi kalathur

Mahathi kalathur (Querist)
Follow

23 December 2016 he did not earn any thing all he has got from his father that mean grand father of that girls

Online classes for CA CS CMA