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Section 16: Conditions of mortgage

The Rajasthan Land Revenue (Allotment of waste land for bio-fuel plantation and bio-fuel based Industrial and processing unit) Rules, 2007State Rules of Rajasthan · 1956

The allottee shall be required to take permission from allotting authority for any mortgage of land for raising funds for development of land for which following conditions shall have to be fulfilled:-

(i) The land can be mortgaged only to the Nationalized Banks or the Scheduled Banks approved by the Reserve Bank of India and other Financial Institutions approved by the Revenue Department, Government of Rajasthan.

(ii) 1% of Mortgage fee shall be remitted to the Collector.

(iii) The State Government shall have first charge on the land so mortgaged.

Where this provision sits

ActThe Rajasthan Land Revenue (Allotment of waste land for bio-fuel plantation and bio-fuel based Industrial and processing unit) Rules, 2007
Section16
Marginal noteConditions of mortgage
JurisdictionState of Rajasthan
StatusIn force as published by the source

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