NA property permission is different and resort permission is different. These are two different permission. Kindly check the collector permission for both.
NA resort property cons
We are planning to buy an NA-resort property near Pune to build a house around 1000 sq ft. What are the cons of buying an NA resort plot? Is the 7/12 extract on individual name? ( The developer says we will get individual 7/12, but wanted to confirm for NA resort plots if it's possible) In case we want to sell off the plot and house together after 5-10 years, would there be any challenges? Overall is it k to go ahead and buy an NA resort plot since they are much cheaper than NA residential?
Asked 5 years ago in Property Law
Religion: Hindu
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6 Answers
A NA plot is a non-agricultural piece of land on which construction of any type (such as a bungalow, shop, office, industrial unit, etc. can be done as per the zoning demarcated. The term NA primarily encompasses residential, commercial and industrial properties.
Key legal checklist for buying a property
- Property documents checklist.
- Verify the identity of the seller.
- Conversion and land-use permissions.
- Construction approvals.
- Occupancy certificate.
- Status of tax payment.
- Encumbrance.
- Physical survey and access to the property.
Property investments are highly capital intensive, and any mistakes made during the process can cause a great deal of trouble to the buyer. This makes it imperative for a buyer to exercise due caution while examining the property documents. With proper legal advice, scrutiny of documents and verification of relevant information pertaining to the property, the buyer can ensure that the investment brings peace of mind and a sense of security.
Unless you are absolutely certain of the credentials of the seller and his ownership over the asset is duly testified by documentary proof, a buyer should avoid getting into a deal, irrespective of how lucrative it might seem. Sometimes, people try to sell disputed properties at low prices. This prospect that might seem attractive in the beginning but would eventually prove to be a major headache. Also, never engage with a seller who wants you to use unaccounted money to make the purchase in order to save taxes. This could also lead to a lot of future troubles.
Dear sir/madam,
NA Plot / Bungalow Plot: A NA plot is a non-agricultural piece of land on which construction of any type (such as a bungalow, shop, office, industrial unit, etc. can be done as per the zoning demarcated. The term NA primarily encompasses residential, commercial and industrial properties.
Demerits of investing in land
Problems related to ownership and encumbrances – i.e., title risk. Risk related to change in land use. Physical dimensions of the land where the exact dimensions are not known. Zoning risk, if the land is forest land or under the Coastal Regulation Act. Capital appreciation may be compromised, if the location does not fare well. Physical encroachment of your land. No rental income. Liquidity issues in the short-term.
1) resort NA offers 0.10 to 0.25 FSI [means you can construct 100 sqft to max 250 sqft for 1000 sqft Plot].
2) You will never get individual 7/12 extract
3) . And its a 99 or 999 years lease deed
4) don’t purchase the plot
Yes but it can't be used for residential purpose. The building of house is also restricted and you need to first find out the relevant restrictions from the collector office
- As per law, if the land is NA- Resort, then it can be used only for resort, and a residential house cannot be build there.
- Further, 7/12 is only for the purpose of revenue to pay the taxes and not a certificate to built a residential house therein.
- Hence, at the time of selling the same , it can be challenged.
