Dear Sir / Madam,
I am from Karnataka and have a query, would request you to kindly reply for the same. My father is having agricultural lands in his name. Since, i want to buy agricultural lands I am transferring few land in my name so that i can get the Phani in my name and can buy agricultural lands in future.
But, i have heard that if the income of the person in the family is more than Rs. 2 Lakhs per annum he will not be able to buy, even though if he has bought the land the government can take back the land into their custody if it gets the information. Is is true?
If it is true what is the other option of buying the land. Do i need to convert the land to residential use in the name of the original seller and register in my name so that i can do agriculture.
Regards,
Chetan B R
I am from Karnataka and have a query, would request you to kindly reply for the same. My father is having agricultural lands in his name. Since, i want to buy agricultural lands I am transferring few land in my name so that i can get the Phani in my name and can buy agricultural lands in future.
But, i have heard that if the income of the person in the family is more than Rs. 2 Lakhs per annum he will not be able to buy, even though if he has bought the land the government can take back the land into their custody if it gets the information. Is is true?
If it is true what is the other option of buying the land. Do i need to convert the land to residential use in the name of the original seller and register in my name so that i can do agriculture.
Regards,
Chetan B R