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QUESTION

difference between freehold property and lease hold property

By vishnu   a year ago   Purchase 106 views
 
 
 
 
 
 
 
ANSWERS (4)
 
 
 
 
Rakesh a year ago
GPA & ATS can be signed on leasehold property . Sale Deed on freehold property.
U can take home loan only on freehold property
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Saurav Aggarwal a year ago
on freehold property u have to pay annual house tax while on lease hold u need to pay one time lease rent for 90 years(in NOIDA).
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Saroon a year ago
Vishnu.... There is more thing too it.... There is a law if you are buying a lease hold property you can apply for a free hold status after 30 years of using the land but depends on the government to approve the same.
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jasmeen a year ago
Hello vishnu ji ,
FREEHOLD PROPERTY
In case of a freehold property (plot or flat), the owners right over the property is full and unconditional (within the provisions of the laws of the land). The title paramount (the President of India acting through the land-owning agency) has conveyed the property in favour of the purchaser by conveyance or sale deed. There are no restrictions on the rights of the latter to further sell and transfer the ownership of that property.
LEASEHOLD PROPERTY
In a leasehold property, on the other hand, the land-owning agency gives the land on lease to a lessee for a stipulated period. The land ownership rights remain with the lessor. The lessee pays a lease premium and an annual lease rent as fixed by the lessor. Further, the lessee requires the lessors prior permission if he wants to sell the property.
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