Mrs . Shanta Rani (Housewife) 19 May 2012

Leasehold property sale in delhi is on hold now?

LeaseHold Property Sale in Delhi is on hold now?

As you all know there was a ruling by the Supreme Court some time back last year that no property in Delhi can be sold on GPA any more unless it is with in blood relation.

Now, just yesterday I heard that the above ruling has come into effect as of May 1st 2012. Is this true? There are so many rumors and I just don't want to trust anyone and feel this forum has some really genuine real estate consultants who can provide info on this more accurately.

Also, there was some speculation on the leasehold to freehold for independent floors getting realized soon. Any news on that too?

Basically, I have a leasehold property and I am trying to sell it. It's in CR Park, and I keep getting varied news I feel and don't know what to trust and what to filter out.

Please please advise guys.....

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Ajit Singh Cheema (practising Advocate) 20 May 2012

The judgement as reffere by you is in the case of Suraj Lamp And Industries Pvt Ltd. Verses State of Haryana 2011(11) SCALE 438.The main features of the judgement are "" transactionsof the nature of "GPA Sales" or "SA/GPA/WILL transfers" do not convey title and do not amount to transfer,norcan they be recognised or valid mode of transfer of immovable property.Such transactions cannot be relied uponor made the basus for Mutations in the Municipal or Revenue Records.What is stated above will apply not only to deeds of conveyance in regard to freehold property but also to transfer of LEASEHOLD PROPERTY.A LEASE can be validly transferred only under a registered ASSIGNMENT oF LEASE.It is time that an end is put to the pernicious practice of SA/GPA/WILL tranmsactions known as GPA sales.