The Lawyers & Jurists
M.L.Hotel Tower Ltd,208,Shahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka-1000.
Our Ref: LJ/PJ/04/07 Dated: April 30, 2007
Consumer Credit Risk
Personal Financial Services
Dhaka Main office, Anchor Tower
1/1-B, Sonargaon Road
RE: VETTING OF PROPERTY DOCUMENTS A/C. “W”.
Please refer to your letter No. HML/CHG/004-091716-001 dated 22 April 2007 on the above subject.
We have perused the documents/papers (all photocopies) that you have referred to us and our opinion is as follows:
|1.||Owner of the property
|:||MR. A, son of Mr. X of Village-Kanchan Nagar, P. S. Fatikchari, District-Chittagong, at present : 117/A, Jamal Khan Road, P. S. Kotwali, District-Chittagong|
|2.||Description of the property||:||All that piece and parcel of land measuring 700 (seven hundred) Sq. Yds. situated within District-Chittagong, P. S. Panchlish, Sub-Registry Office-Sadar, Mouza – Khulshi, R. S. Khatian No.150, R. S. Plot No.735(part) and 736 (part) of the Society Plot No.84/C as per Lay-out Plan of Chittagong Co-operative Company 1, which butted and bounded by:
On the North : Society Road
On the South : Acre Plot No. 4
On the East : Plot No.83/C
On the West : Plot No.85/C
|3.||Area||:||Land measuring 700 (seven hundred) Sq. Yds.|
Title Deed Referred
|:||Certified copy of Deed of Sale No.1178 dated 21.01.1980 executed by Mr. B in favour of Mr. P|
|:||Bia Deed of Sale No.6976 executed on 23.05.1978 registered on 06.06.1978 executed by Chittagong Co-operative Company 1 in favour of Mr. C|
|7.||Khatian||:||Submitted R. S. Khatian No.150
|8.||Chain of Ownership||:||From R. S. Khatian No.150 it appears that land measuring 3.18 acres and 7.48 acres under dag Nos. 735 and 736 respectively along with several land and various dags were recorded in the names of Sailendra Krishna, Pran Krishna and Gokul Krishna.
Thereafter, the present owner Mr. B was leased out the land measuring 700 (seven hundred) Sq. Yds. under R. S. Plot No.735(Part) and 736(Part) of R. S. Khatian No.150 of the Society Plot No.48/C from Chittagong Co-operative Company 1 vide Agreement of Lease No.6976 executed on 23.05.1978 registered on 06.06.1978
Thereafter the present owner Mr. P became owner of land measuring 700 (seven hundred) Sq. Yds. under R. S. Plot No.735(Part) and 736(Part) of R. S. Khatian No.150 of the Society Plot No.48/C of Chittagong Co-operative Company 1 from Mr. B vide Deed of Sale No.1178 dated 22.01.1980
|9.||Ground Rent Receipt||:||Not submitted|
|11.||Non-Encumbrance Certificate||:||Submitted Non-encumbrance certificate issued by Sub-Registrar, Sadar-Record Room, Chittagong land measuring 700 (seven hundred) Sq. Yds. under R. S. dag No. 735 and 736 of Mouza-Khulsi, P. S. Panchalisha, Chittagong which it appears that the land is unencumbered from 1989 to 2000|
|12.||Municipal Holding Record||:||Not submitted|
|:||§ Mutation Khatian for 12 (twelve) years up-to-current year;
§ Up-to-date Ground rent payment receipt;
§ Up-to-date Non-encumbrance certificate from the concerned Sub-Registrar Office;
§ Up to date Municipal Tax Payment Receipt; it applicable;
§ Valuation certificate;
|:||Upon perusal of the documents/papers we are of the opinion that Mr. A has acquired prima facie right, title and ownership over the land measuring 700 (seven hundred) Sq. Yds. Physical possession of the present owner over the land should be ascertained and wanting documents/papers referred in Clause 13 above should be obtained.
The Landowner Mr. A entered into a Deed of Agreement in the year of 2001 (the ‘Development Agreement’) with BAY TECH PROPERTIES LIMITED, having its Office at 1293, D. T. Road, Dhanialapara, Chaittangong represented by its Managing Director Dr. A. A. G. Murtaza (the ‘Developer’) for developing the land measuring 700 (seven hundred) Sq.Yds. by way of construction of a multi storied building thereon and necessary Car Parking space in the ground floor of the building. In the terms of the Development Agreement, the Landowner will get 2(two) apartments and 2(two) reserve Car parks mentioned the schedule “C” of the Agreement and will get remaining apartments and Car parks and undivided and undemarcated proportionate land of the schedule property.
As per terms of the Agreement the landowner Mr. P executed an Irrevocable General Power of Attorney dated 06.05.2001 executed in Abu Dhabi-U.A.E, Embassy of Bangladesh duly attested in Bangladesh appointed BAYTECK PROPERTIES LIMITED, represented by Dr. A. A. Ghulam Murtaza (the Developer) as his constituted attorney to develop the land construct the building and flats and empowering inter alia to sell the same along with undivided and undemarcated proportionate land as per terms of the Agreement mentioned above.
Chittagong Development Authority gave permission to construct the multi storied building on the scheduled property vide letter dated 03.12.2003.
From your letter it appears that Mr. “W” is going to purchase an apartment in the Building named “BAY GREENVILLE” at Road No.6, Khulshi Hills Residential Area, Chittagong.
Bank may accept the property as security of loan after completion of the documentation formalities as per Bank’s Home/Staff Loan Policy
We have provided this opinion on the basis of the documents/papers referred to us. We can not guarantee the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-registry office or concerned authorities.
If your have further query, please do not hesitate to revert back to us.
All papers/documents referred to us are returned herewith.