Freehold vs Leasehold.

Q: I am bit confused about the term freehold and leasehold. I want to buy a flat and want to be a 100 percent owner. Please clarify my doubts.

Rajeev Narayanan, Kochi

27th December 2011

Other in Kochi

freehold

leasehold

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What is the advantage of Freehold Property?

Vineet David, Kochi

11th August 2015

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Few of the advantage of freehold property is as follow:

1.You won't have to pay the annual ground rent.
2.You don't have a freeholder either failing to maintain the building or charging huge amounts for it
3. You have responsibility for maintaining the fabric of the building the roof and the outside walls
4. Whole houses are normally sold freehold

Sreekutty Nair, Kochi

11th August 2015

Thanks Sreekutty, I would like to know can leasehold property be converted into freehold property?

Smitha Ravi, Kochi

11th August 2015

Yes, some states allow you to convert the leasehold property into freehold. And if there is such an opportunity, you should definitely go for it. Every state has a different set of rules for such conversions.

Sreekutty Nair, Kochi

11th August 2015

Freehold means you will be the owner of the house that you are buying and leasehold means people taking flat or house for a lease of 5yrs or more, after the expiry of the lease you have to either renew the lease or revert the property or house to the owner.

suryakumar46,

27th December 2011

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