Pagadi flat -in grant road west
1 year ago
I am having a pagadi flat in grant road west my landlord is neither buying back the property or allowing me to sell that property to some body else so plz guide me what should I do
A.Dear Sir,
Please exhaust the local laws in respect of your rights as Pagadi holder.
RIGHTS OF PAGDI HOLDER
Q1. What is Pagdi system in Mumbai?
Ans. The Pagdi system is a pre-independence rental law that gives the tenant certain ownership rights over the rented property, including the right to sub-let the property or even sells it while giving a share to the original owner.
Q2. Is the Pagdi system legal in India now
Ans. While there are efforts to modernize or abolish the archaic Pagdi system altogether, the system was made legal as per the Maharashtra Rent Control Act of 1999 and came into effect in the year 2000.
Q3. What happens if my owner wants to sell the Pagdi property I’m renting?
Ans. If the original owners choose to sell the building with its land to a new real estate developer, you as a tenant will be given a substantial percentage of the current sale amount to vacate the premises.
Q4. Can I save on taxes on the sale of a Pagdi property I am renting?
Ans. The amount received from the sale of the Pagdi property is a capital asset and you can save tax on such long-term capital gains by reinvesting in a new home.
Q5. Can I get a home loan on a Pagdi property?
Ans. Getting a home loan on a property under the Pagdi System can be difficult, as many ownership issues remain prevalent with old properties. If you want the property rights transferred to your name, you need to establish your ownership rights for the banks to approve your loan application.
Pagadi system is well established as a practice across the country and many transactions are happening as per the this system. If the owner is not buying it back then you sell it to some one else under the same system and the owner can not stop you from doing this unless he goes to the court with a valid reason.
you have the right to sell it as he is himself not accepting the rent and now not even allowing to dispose the property.
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