Purchase of flat in building located on leased land
Querist :
Anonymous
(Querist) 24 May 2016
This query is : Resolved
Dear Sir,
I am looking forward to purchase a flat in goregaon suburb at mumbai.It has however come to our notice that the flat on which the building is located is a leased land. There are 3 such buildings in the society. It is learnt that the leased land is for a tenure of 99 yrs and that the society has completed apprrx 50 years of lease. In such situation, can u please guide whether i should buy flat in the building as i am concernerd with the ownership rights once the lease period expires. Also kindly guide whether the sellers agreement for sale will mention that the property is leased ?
P. Venu
(Expert) 25 May 2016
Who is the lessor? What are the terms of the lease?
Also, please disclose your identity.
Querist :
Anonymous
(Querist) 25 May 2016
The lessor is bmc ...i am not much aware of the terms of lease as the same has been communicated to me orally ...
My name is Dipali
P. Venu
(Expert) 25 May 2016
To my knowledge, MBC leases lands only within the Original Island O Bombay, not the suburbs.
Querist :
Anonymous
(Querist) 26 May 2016
Sir, in that case what will you advice....will the agreement for sale mention that the land is leased ..the seller is asking me to give token only after which they will share the photocopy of agreement to us ....in that case im confused as to what to do
Querist :
Anonymous
(Querist) 26 May 2016
Dear Goyal Sir, i have disclosed my identity in the trail messages.
Request you to kindly share your valuable inputs
Querist :
Anonymous
(Querist) 26 May 2016
Sir, as per latest information received i have learnt that the land belongs to an individual who has offered it for 99 yrs lease. It was given to understand that builder had approached the society for redevelopment however the owner raised an objection and the case in supreme court.
Now, 50 yrs of lease of the building is completed. What papers should i ask from the society in order to safeguard my interest if i wish to purchase flat in the building
Querist :
Anonymous
(Querist) 26 May 2016
Sir, as per latest information received i have learnt that the land belongs to an individual who has offered it for 99 yrs lease. It was given to understand that builder had approached the society for redevelopment however the owner raised an objection and the case in supreme court.
Now, 50 yrs of lease of the building is completed. What papers should i ask from the society in order to safeguard my interest if i wish to purchase flat in the building
Hemant Agarwal
(Expert) 15 June 2016
1. A Flat-Purchaser buys a Flat and not a piece of the Land that the building is standing on. The building is owned by the Society.
2. The Title-Ownership of a Flat will remain clear & intact, irrespective of the Lease. The Landlord is the owner of the Plot of Land and NOT the building.
3. EVEN after the lease period, the Landlord cannot evict the building owners, for any reason, to the exception of by following due procedure of law, who would renew it at that date with the then new terms and conditions or maybe pass on conveyance of the land to the Society, after negotiating the price of land.
Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
P. Venu
(Expert) 15 June 2016
Strictly speaking, the lease in the instant case may not be a lease in terms of Transfer of Property Act, but a cowl.
The question is who is the lessor - is it the Government or a private individual?
Specifically, is the Society situated in Bangur Nagar?
