Understanding freehold property and leasehold property in India
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Frequently Asked Questions
Are freehold properties safe to invest in?
Ans. If you verify the seller's details and property documents, freehold properties are safe to invest in.
What are the benefits of freehold property?
Ans. Freehold property benefits include complete ownership, unrestricted freedom, and a straightforward documentation process.
What is the tenure period for a freehold property?
Ans. There are no tenure restrictions on freehold properties. The homeowner can enjoy complete ownership. They can use the property, sell it, rent it, or lease the property without any legal restrictions.
Can Leasehold Property be converted into Freehold Property?
Ans. Yes, leasehold property can be converted to freehold property in India. The owner needs to apply to the local development authority to pay the conversion fee. The individual need to fulfill.
certain legal and administrative requirements. Once they get the approval, the homeownership status changes from leasehold to freehold.