For how many years apartments can be owned

Q: Apartment can only be owned for 99 years not more than that ?

CF User,

29th January 2014

Legal in Chennai

apartments in chennai

properties in chennai

chennai real estate

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Buying a property is buying the nature of the rights and authorities over a property which makes it freehold or leasehold. Looking to your query we understand that you are talking about a Leasehold property. To know further kindly refer to this article: FAQs about converting leasehold property to freehold property

Komathi, Chennai

29th January 2014

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Freehold Property: The land owner enjoys absolute right, title and interest in the property. This right is acquired by purchase, inheritance, will or gift. The owner can deal with the property in the way he / she wants.

Leasehold Property: A person endowed with ownership rights can transfer particular rights, as per the agreed rules and conditions for a certain tenure, against few considerations to another individual to utilize the property strictly according to the terms and for the particular reason only.

Anandraj Iyengar, Chennai

29th January 2014

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