A Peepal tree has grown on the terrace of my house. Now I know if it is not uprooted its roots will dig in deep into a room's ceiling below the terrace. I also know that Peepal tree has got religious value and is said to be sacred. I want to know is it OK if I directly uproot the tree or there has been some religious procedure described anywhere.
There is an old practice in South India among Hindus, before cutting down the tree for various purposes, people ask permission of tree(not just peepal) and apologize. The power of our mind is great, actually it can speak even to trees, that's why such practices exist. Plants do have feelings. The great Indian scientist Jagadish Bose had proved this, but I guess our ancestors know this truth before ages and that's why they promoted Ahimsa, Jagadish Bose created an experimental device to measure about plant's feeling/responses. I guess that peepal tree can understand you. There are people still following this great practice, be with mother nature friend.
As it is a necessity, you can just apologize and move the tree to some other place. It will be better if you plant another tree as a compensation if you can't replant it.
The practice which is mentioned here can be seen in this question, What does Hinduism say about protection of nature?
Such a weighty subject. Do you follow the precepts in the Chhandogya Upanishad (III. 17.) and (V. x. 9.)? Or the Taittiriya Upanishad (I. xi.)? Are you truthful all the time? Do you give alms to the poor?
In the Taittiriya Upanishad it says when the student is about to leave his teacher, he is told to asked among other things to protect his welfare and prosperity (I. xi.) Cutting the tree is protecting your possessions. If cutting down a Peepal tree is the only karma you have to answer for, you are a great soul.
Your first duty is to your family's protection and welfare.