Property Know How & FAQ’S

Q: What is Leasehold to Freehold Policy?
Or
Q: What do you mean by conversion of property in to Freehold?

Freehold is the transfer of ownership of property from government to the person. It is carried out in accordance with the policy of Ministry of Urban Development, Govt. of India. The authorities like DDA, L&DO etc. earlier used to allot the properties on leasehold basis i.e. the ownership remained with the authority and the allottee was like a tenant. In pursuance of the Notification/Order dated 14.02.1992, the government then started transferring the complete ownership to the allottees or the purchasers and this process is known as conversion of property from lease hold basis to Freehold basis.

Q: What is the procedure for Conversion into freehold and which is the concerned Authority?

Freehold application on prescribed form, along with other relevant documents has to be submitted to concerned Lessor Authority (such as DDA, L&DO, NDMC). After the scrutiny of the documents, concerned Lessor Authority issues the Conveyance Deed (Title document).

Complete freehold procedure involves three different departments vs-a-vis. Concerned Lessor Authority (it issues Conveyance Deed), Collector of Stamps (it collects Stamp Duty on Conveyance Deed) and Sub-Registrar (finally Conveyance Deed is Registered in this office.

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Freehold documentation requires attested photocopies of all relevant letters of concerned authority, ID, photographs, bills, form itself etc.

Q: Is there are any charges for the conversion? If yes, then How much?

Yes, Conversion Charges vary according to the type of property, category, and locality/area of the property. These charges are revised time to time as per the policy of the government.

Q: What is meant by Mutation of Property? Is there any difference from the term Transfer of Property?

In common parlance and usage both the terms are used to mean the same i.e. Change of ownership. However, more precisely it can be said that Mutation is process of conveyance of ownership of property after death of owner while Transfer is process while the owner is still alive.

Q: There are certain mistakes in my registered Deed/Document. What can I do now?

Errors in registered documents can be corrected only through Rectification Deed duly registered in the office of the Sub-Registrar concerned.

Q: I wish to plan for the future of the family, what can I do?
Or
Q: What do you mean by Estate Planning?

One may secure the future of his/her legal heirs, aged parents, minor/disabled children and other near and dear ones by a proper Estate Planning and avoid differences and disputes between them.

It refers to securing one’s property that it does not go into wrong hands or become a subject matter of litigation. You may prevent your hard earned assets from being wasted. There are various modes or instruments by which one may do estate planning. It includes following documents but are not limited to ‘Instrument of Will’, Gift Deed, Trust Deed etc.

General Information

 

  • Will‘ can be registered on a plain paper. It secures future of your children.
  • Gift Deed is the safest way to grant ownership to your near and dear ones in your lifetime.
  • You can get Certify Copy of all registered documents of your property from the concerned Sub-Registrar. This helps in keeping duplicate records for unforeseen events.
  • It is compulsory to get Lease Deed registered for rent of Rs. 3500/- p.m. or more in case of residential properties.
  • Properties can often be exchanged through Exchange Deed duly registered in the office of the Sub-Registrar.
  • Errors in registered documents can be corrected through Rectification Deed duly registered in the office of the Sub-Registrar.
  • Affidavit is valid on Non Judicial Stamp Paper of Rs. 10, Undertaking on Rs. 10, Indemnity Bond on Rs. 100/-.
  • There are 13 numbers of Sub-Registrar offices in Delhi each having their respective jurisdiction to register Book 1 Documents (as provided under Sec.28 of Indian Registration Act,1908).
  • It is compulsory to get Agreement to Sell registered since Sep 2001. Are your papers properly registered? Think!!
  • You can get information of status of your property/file through RTI Act, 2005 simply paying fee of Rs. 10/- to the PIO.
  • Always check that the documents of property you intent to buy are complete i.e chain of documents such as GPA, SPA, Will, Possession Slip, Receipt of payment, Agreement to Sell.
  • Verbal Refusal of acceptance of documents in any department amounts to harassment. You can demand refusal in writing and the reason thereof from the concerned officer for your future actions.
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