Tag: leasehold to freehold conversion

Latest StoriesResidential

Govt to Restore DDA Properties from Leasehold to Freehold Soon

File Photo NEW DELHI: The government is set to finalize the conversion rates for registration charges, facilitating the resumption of converting properties from leasehold to freehold in the national capital, Union Minister Manohar Lal announced on Tuesday. Changing a leasehold property to freehold means transitioning its ownership from rental to full ownership. Since January this year, the conversion process for Delhi Development Authority (DDA) properties has been on pause due to the new circle rates adopted by the Delhi government. “We will present a proposal to the cabinet for the approval of conversion charges for DDA and L&DO properties; the…

IndustryLatest Stories

Chandigarh raises property conversion charges

CHANDIGARH: Property owners in the city will face significantly increased fees for converting leasehold residential properties to freehold status. This change is part of a new notification from the Chandigarh administration, marking the first revision of these charges since 2017. The new fees have increased by two to four times, depending on property size and location, and are directly tied to updated collector rates. The notification indicated that the land rate for calculating conversion charges will be aligned with the collector rates (in Rs per sqm) applied to residential urban areas, as per the rates announced on March 25. Additionally,…