MHADA Lease Rate and Period
3 years ago
Hi, I am looking forward to buy a flat which is a land parcel of MHADA. The property is located in Dahisar, Mumbai (Suburbs) and is leased from Mhada to construct the flat. While there was a news that the lease rate has been increased and the period decreased, I wanted to understand what is the revised rate and period for this. Also, if it is safe to buy a flat at the said property.
Look forward to your help for me to take the final call.
A.Hi,
Most of the land plots given on long leases right from the British era have been charged a very small amount. Some plots have been given on a 50-year lease while others have been given on a 99 or 999-year lease. Those whose lease period is over will now have to pay rent according to the ready reckoner value, increasing the land lease rates — in some cases, by an astronomical 18,000 times.
The lease period has been restricted to 30 years.
Thank You
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Most of the land plots given on long leases right from the British era have been charged a very small amount. Some plots have been given on a 50-year lease while others have been given on a 99 or 999-year lease. Those whose lease period is over will now have to pay rent according to the ready reckoner value, increasing the land lease rates — in some cases, by an astronomical 18,000 times.
The lease period has been restricted to 30 years.
Thank You
If you found this helpful, do rate us.
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