Selling DC converted land

Q: I have a plot which is under Panchayat and I am planning to sell it off but the buyer is asking if it is a DC converted land. The land is registered in my name and I am paying tax for the same

Harshit, Bangalore

3rd November 2014

Legal in Bangalore

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dc converted land

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Replies (2)

Do nationalized banks provide loans for DC converted properties?

Mithilesh Roy, Bangalore

3rd November 2014

Comment

Yes nationalized banks provide loan for DC converted sites. But they would do it only on clear titles which are fulfilled by their rules and norms. This would vary from bank to bank.

Abhishek,

3rd November 2014

I think No nationalized banks give loan for DC converted lands. Some private banks may come ahead to finance you.

James, Bangalore

3rd November 2014

DC Conversion is a legal process and is mandatory Under Section 95 of Karnataka Land Revenue Act, by which the occupant or the property owner makes an application to the Deputy Commissioner of the District seeking his assent/permission/sanction for the change of land use from agriculture to non-agriculture(Residential/Public Use/Semi Public Use/Industrial/Commercial) use. The Jurisdictional revenue authority will consider the application on the basis of rules and regulation formulated for this purpose and accordingly an order may be issued. The Conversion fee/fine is levied and an official memorandum (OM) is issued to the applicant, directing the applicant to pay the same in the state treasury. Upon the confirmation of such payment, the Deputy Commissioner will issue Conversion Order.

Abhishek,

3rd November 2014

Comment

DC Converted means the conversion of land from 'agricultural' (i.e. land that can only be used for farming according to the government, and hence assessed for tax accordingly) to 'residential'. DC stands for District Commissioner, the officer who has the authority to approve such conversions. DC converted sites are usually eligible for bank loans.

Abhilasha, Bangalore

3rd November 2014