• search

DPCC Chief welcomes Centre's decision on free hold conversion

Written by: Staff

New Delhi, Apr 18 (UNI) Delhi Pradesh Congress Committee President R B Sharma has welcome the Centre's decision today to ease conversion of lease hold property to free hold.

It would bring greatr relief to the people of the city as it would make sale and purchase of property quite easy and hassle-free, he said in a statement this evening.

With the Centre's decision today it would become easier to register flats and shops in multi-storeyed buildings in the Capital, as the conversion system of property from leasehold to freehold had been rationalised, bringing registered sale deed owners on a par with general power of attorney holders.

''Property sold through regular sale deed can now be converted into freehold by paying only a conversion fee and a surcharge of 33.3 per cent as applicable to general power of attorney holders,'' Science and Technology Minister Kapil Sibal told reporters after the Cabinet meeting that took the decision.

Till now, registered sale deed owners had to pay stamp duty and other charges, besides conversion fee and surcharge, while all lessees staying in a building had to give a single sale deed.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more