I am planning to book a 3 bhk house in Lotus Villas in Noida Extension. The land is freehold. My question is whether it is a good idea to purchase a house in this project. Whether purchasing freehold property is good or bad. Also, i am planning to move in after 2 years, so what are the locality prospects in the area. Guide me on the same.
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As per my knowledge, Noida extension is a well planned & organized city and it settles between green belt and essential amenities with world class facilities. Likewise, between all the growing markets being compared, Noida Extension is the most encouraging & attractive in terms of upcoming metro connectivity as well as existing infrastructure.
A freehold property is a property which gives full legal rights to the owner to live and use the property. Most of the property in India is freehold, which means that ownership is transferable. A freehold property owner has the right to sell, transfer, renovate and repair the property. The freehold property gives more right and responsibility to the owner.
I agree with you Hemraj but the only disadvantage of this type of property is that the owner has to carry out repairs that may be required from time to time.