The Leasehold term is 999 years and started in 1950's.
However, even under Leasehold, you need to get the property registered in your name.
Apartments may be owned by an owner/occupier by Leasehold tenure or rented by tenants(two kinds of housing tenure).
Leasehold deeds are common
and offer ownership for a fixed period of time after which the ownership reverts to the freeholder.
Occasionally, Leasehold deeds are offered in perpetuity however many
do not convey ownership of the land but merely the apartment or'unit' of accommodation.
Occasionally, Leasehold deeds are offered in perpetuity, however many deeds
do not convey ownership of the land, but merely the apartment or unit(housing) of the accommodation.
In most government housing schemes(DDA, MHADA, etc.)
where units are allotted on a Leasehold basis, there is a specified gestation period,
before which the resident cannot sell the property to another party.
In most government housing schemes(DDA, MHADA, etc.) where units are allotted on a Leasehold basis, there is a specified gestation period,
before which the resident cannot sell the property to another party.