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c/c limit

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Querist : Anonymous

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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
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Ca Aashish Upadhyay

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Ca Aashish Upadhyay (Expert)
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...!
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Rahul Gupta

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Rahul Gupta (Expert)
02 June 2010 Agreed. There is no bar on the situation of the Plot or the use of the plot. The only thing is that it is mortgageable.
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