Delhi Moves Towards Property Freedom: Leasehold to Freehold Conversion Expected Soon

The Indian government is close to finalizing registration rates for converting leasehold properties to freehold in Delhi. This change, paused since January due to new circle rates by the Delhi government, aims to simplify ownership. A proposal for approval will soon be presented to the cabinet.

The conversion rates for registration charges in Delhi are expected to be finalized soon, paving the way for restarting the conversion of properties from leasehold to freehold, according to Union minister Manohar Lal.

This conversion process, put on hold since January due to the introduction of new circle rates by the Delhi government, will enable property owners to change their ownership status from rental to total ownership.

A proposal for the approval of conversion charges for DDA and L&DO properties is set to be submitted to the cabinet, aiming to bring uniformity among differing circle rates and streamline property ownership processes in the capital.

(With inputs from agencies.)