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Leasehold, Freehold
Conversion of Property from Leasehold to Freehold Page - 1 Page - 2
Conversion of Property from Leasehold to Freehold in Delhi from DDA - Page-1
Q1. What are the Benefits of Conversion of Property from Leasehold to Freehold?
A.
The immediate Benefits of Conversion of Property from Leasehold to Freehold is - You get Perfect and Absolute Title to your Property. Various other benefits of conversion are: -
You get registered Conveyance Deed in your name. No more there are any restrictions on the possession, occupation, enjoyment, constructions and management of the property by the title holder and the same are governed by the general laws like rules and regulations of Municipal Corporation of Delhi (MCD) or New Delhi Municipal Corporation (NDMC). There are no restrictions on the resale of property by the buyer and the resale can be affected through registered Sale Deed. All the property papers so far held by the imperfect title holder viz., Lease Deed, General Power of Attorney, Special Power of Attorney, Agreement to Sale, Receipt, WILL, Affidavits etc., culminate into one document of title of Conveyance Deed. Banks are always willing to give Home Loan on Freehold Properties. No more worries of breaking of Chain of General Power of Attorney Holders by death Property means money – the most practical and immediate benefit is that the market rate of the property immediately rises and the same property can fetch much better rate after its Conversion from Leasehold to Freehold in resale.Q2. What are the steps involved in Conversion of Property from Leasehold to Freehold?
A.
Following are the steps involved in Conversion of Property from Leasehold to Freehold: -
Buying Brochure and Form of Conversion of Property from Leasehold to Freehold from Delhi Development Authority (DDA), Vikas Sadan, Delhi. Filling up Form and completing all the formalities prescribed in the form. Submission of Form along with all the documents and Conversion Charges Follow up of your case as per the notices received by you from Delhi Development Authority (DDA) and removing any Defects in your form or documents. Receiving of Notice from Delhi Development Authority (DDA) that your Application for Conversion of Property from Leasehold to Freehold has been accepted and you are required to complete further formalities. Receiving CD Copies from Delhi Development Authority (DDA) and submission of the same after filling in the Blanks and stamping. Execution of CD by the Delhi Development Authority (DDA), Property Holder and Witnesses and Registration of the same. Receiving of Registered Conveyance Deed.Read further ... Conversion of Property from Leasehold to Freehold in Delhi Page 2
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Last Updated: 18 July 2010