Property on Lease

Ninu Kapoor (Querist) 04 May 2010 This query is : Resolved
Dear Experts,

Need your advice.

Can we rent out or can we sell the commercial property given to us by Brihanmumbai Municipal Corporation (BMC)on lease of 99 years? If Yes, What is the process.

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Guest (Expert) 04 May 2010
YOU MAY REFER TO YOUR ALLOTMENT LETTER OF SAID PROPERTY,IT WILL CLEAR ALL YOUR DOUBTS.
THANKS.

prakash vathore (Expert) 04 May 2010
u can rent out that property. you have to make document by which u can sub lease that property.

ESTHERPRIYA (Expert) 04 May 2010
You need to get NOC from Brihanmumbai Municipal Corporation (BMC) and provided there is a clause giving right to sub-lease the property in the allottment letter and the lease deed made in favour of you for 99 years.

Parveen Kr. Aggarwal (Expert) 04 May 2010
The BMC has given you property on 99 years' lease subject to certain terms and conditions. As rightly advised by Mr. Nandkumar B. Sawant, you must go through the deed of allotment in your favour wherein all the rights and liabilities attached to your lease must be mentioned. If permitted therein, you can rent out or sell the property according to the procedure mentioned there.

Manish Singh (Expert) 06 May 2010
yes, the renting out or selling off the leasehold rights are generally not allowed by the authorities without their prior permission thus take the permission and do accordingly.

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