Difficulty in availing home loans against property, rues Ronnie
SHILLONG, March 12: Congress on Tuesday alleged that the nationalised banks operating in Meghalaya are not recognising the land registration document, issued by the KHADC, so as to mortgage the same in order to avail loan.
Raising the issue during the Question Hour on the second day of the Budget session of the KHADC here, Congress MDC from Mylliem Ronnie V Lyngdoh said that so far only the Meghalaya Rural Bank (MRB) has accorded recognition to the land registration documents issued by the KHADC.
According to him, if the land registration document issued by the Council is recognised as valid and genuine, then it will help the people who cannot afford to register their land with the Deputy Commissioner (Revenue).
“It will be a blessing for many families who own a small plot of land to avail a housing loan if the nationalised bank recognised the land document issued from here,” the Congress MDC from Mylliem said.
In his reply, Executive Member (EM) in-charge of Land Teibor Pathaw said that the Executive Committee (EC) is equally concerned over the same issue.
Informing that they had a meeting with the representatives of the nationalised bank, he said that one of the nationalised banks had submitted a letter containing a notification issued by the then Governor of Meghalaya in 1982, notifying the adoption of the Indian Registration Act of 1908 by the state government.
According to him, this central Act is now applicable throughout Meghalaya, following which the nationalised banks have accorded recognition to the land documents issued only by the Revenue department.
Pathaw also informed that they had last week submitted a memorandum to Deputy Chief Minister in-charge District Council Affairs (DCA) department Prestone Tynsong, flagging concern over the matter.
He said it was following this a committee comprising senior officials of the Revenue department was formed to study if there is a provision to exempt the Council from the purview of this Act.