c/c limit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2010 sir my client wants to get 20-25 c/c limit. He has only 1 plot which is outside the municipal limits valuing 40-45 lacs.
He has no other property. Banks are demanding property.
How can he get c/c limit? client does not want to get limit from private banks.

plz guide me

Ca Aashish Upadhyay

Ca Aashish Upadhyay (Expert)
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02 June 2010 Dear Puneet!

Please check the land use of the property. and check wether the plot comes under resdential area. Also check the notified limit of the state in which the property is situated.

Outside the municipal limits does not bar a person from taking the loan...the question is whether that property can be mortagaged or not...!