Apartment buy

Querist : Anonymous (Querist) 24 April 2011 This query is : Resolved
Dear Sir,
I want to buy an apartment at Pune. Land on which apartments have been built was taken on lease in 1949 for a period of 99 years till 2048 by the developer. Developer says he had taken that land on lease at that time because at that time the rules were such that it was not possible to buy huge chunks of land for development may be under some ceiling act. What will happen after 2048. Shall we have to surrender the apartment and also the land to the licensor if we buy apartment built on such leased land after 2048.

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