Patna: Leasehold properties to be converted into freehold

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Happy-Home-Owners

The Patna Municipal Corporation (PMC) has given its final nod for conversion of leasehold units into freehold properties falling within the limits of Patna Regional Development Authority (PRDA).

Officials have shared that the recent change in the conversion of properties status would benefit tenants. Attaining of freehold property status will grant powers to a lessee in order to manage his property on his own terms.

Property owners will have to make one-time payment of 25 per cent of the current price to become the real owner of the property. The generated amount from the landowners would be used for development projects undertaken by the municipal corporation.

In another development, the implementation of recommendations of Seventh pay commission for PMC workers has been sanctioned as well.


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