Aamir Khan (Internal auditor) 24 August 2011
I am planning to purchase a flat that will be developed on a leased land for 65 years. This property has been auctioned by MMRDA.
Is there an issue to purchase flats which are developed on leased land. what happens once the lease is complete. I have recently seen many such flats coming up in mumbai. Please advise. thanks
Raj Kumar Makkad (Adv P & H High Court Chandigarh) 24 August 2011
You have to go through Lease-Agreement. All terms mentioned therein have to be followed including fate after period of completition of lease period.
Aamir Khan (Internal auditor) 25 August 2011
Thanks for your reply, so I will request for the lease agreement copy between the MMRDA and the builder. Suppose the lease agreement says that the lease is renewable at end of the lease term for another 30 or 60 yeras would this then convert into a freehold land.
If the lease agreement does not have any renewable clause would that mean that the land will have to be returned back to MMRDA in such a circumstances what would be the fate of the building built on the land. Will this be need to be demolished, that looks insane. Are you aware of a precendence or a case law on such a matter
You comment will be highly appreciated
Kind regards
Aamir
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