G.R. Dt. 2nd January, 2012 – Department of Revenue and Forest – Sub- Mortgage Fees to be charged by Government while permitting loans against the collateral of Government Lands in Maharashtra
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Permitting Mortgage of Government Lands granted by Lease or Occupier Rights for the purpose of raising loans from Financial Institutes
Government of Maharashtra
Department of Revenue and Forest
Government Resolution No:-Jamin-11/2011/Pra.Kra.166/J-1
Mantralaya, Mumbai-400 032
Dated 2nd January, 2012
Vide:-
Government Resolution No:-Jamin-2000/Pra.Kra.135/J-1, Dt. 27th February, 2009.
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Preface:-
Under the Maharashtra Land Revenue (Disposal of Government Lands) Rules, 1971, government lands are sanctioned for various purposes to voluntary organisations, individuals, various bodies and companies etc. by way of Occupier Rights in Occupier Class-2 or Lease under prevailing Rules, in conformity with the prescribed Terms and Conditions. Under Government Resolution Dt. 27.02.2009, it was resolved to permit mortgage/pledge of the sanctioned government lands with financial institutes for the purpose of raising loans for the sanctioned purpose by charging them Mortgage Fees at the prescribed rate on the amount of loan. In practice, apart from government sanctioned lands, the self-acquired lands of the entity, as well as buildings, machinery and other property raised by the entity on such land, too are mortgaged to raise loan from the financial institutes. While raising loan in such manner, the concerned individuals, entities are mortgaging the government sanctioned land, as well as their self-property by way of collateral security. In reality, once a land is sanctioned for a particular purpose, apart from the government land sanctioned for the relevant purpose, the self-acquired land of the concerned entity, as well as the buildings, machinery and other property of the entity sanding on such lands too are mortgaged for the development and expansion of the sanctioned purpose and thereafter the loan is sanctioned. In cumulative view of all these aforesaid factors, the Government contemplated that the mortgage fees should be charged either on the amount of loan or the prevailing market value of the extent of government land actually mortgaged with the financial institute. Accordingly, the Government has resolved as hereunder:-
Government Resolution:-
1) The Rates of Mortgage Fees, depending upon the purpose, shall be as per the Rates specified in the above referred Government Resolution Dated 27.02.2009.
2) If government land is mortgaged, the Mortgage Fees to be charged should be charged either on the amount of borrowed loan or the prevailing Market Price of the extent of Government land actually mortgaged whichever, being less.
3) While permitting mortgage of land the other Terms and Conditions set out in the above referred Government Resolution Dated 27.02.2009 shall continue to apply.
By the order and in the name of the Governor of Maharashtra,
Sd/-
[Sunil Kothekar]
Desk Officer, Government of Maharashtra
To,
All Divisional Commissioners,
The Settlement Commissioner and the Director of Land Records, Maharashtra State, Pune,
The Inspector General of Registration and Controller of Stamps, Maharashtra State, Pune,
All District Collectors,
All Sub-Divisional Officers/All Tahsildars,
The Private Secretary to the Hon’ble Minister (Revenue), Mantralaya, Mumbai-32,
The Private Secretary to the Hon’ble Minister of State (Revenue), Mantralaya, Mumbai-32,
The Personal Assistant to the Principal Secretary (Revenue), Department of Revenue and Forest, Mumbai-32,
The Accountant General, Maharashtra-1, Mumbai,
The Accountant General, Maharashtra-2, Nagpur,
All Mantralaya Departments,
The Department of Finance, Mantralaya, Mumbai-32,
All Desks in “J” Group, Department Revenue and Forests, Mantralaya, Mumbai-32,
J-1 Desk, Department of Revenue and Forest, Mantralaya, Mumbai (Select File).
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[Text Translated by Adv. Prakash Manohar Chalke-
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