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MCD Free Hold Conversion by legallightconsulting.com

MCD Free Hold Conversion

MCD Free Hold Conversion : All commercial and mixed land use properties allotted by the Department of Rehabilitation, L & DO or the Directorate of Estates and transferred to NDMC by Govt. of India for which ownership rights have been conferred and lease deed executed and registered are eligible for conversion from lease-hold to free-hold.

  • Those who have applied before will not be required to apply again. However, the date of initial application shall be the crucial date for calculation of Conversion Charges where the payment towards conversion charges has been accepted by the L&DO.
  • In cases, the payment made towards conversion charges by way of cheque/demand draft has been returned on account of rejection of the application by L&DO on scrutiny, the relief is not applicable.
  • In case of mortgaged properties, a “No Objection Certificate” issued by the mortgagees will be required for allowing the conversion into freehold.
  • An interest of 18% per annum is applicable and required to be paid by the applicant along with the arrears of ground rent before the conversion.
  • In cases where the ground rent is due, the lessee will be notified regarding the revised amount of ground rent for the deposition of amount before the execution of conveyance deed.
  • Those who have already applied before does not require to apply again. In cases, where the payment has been accepted by the L&DO, the date of initial application shall be the crucial date for calculating the conversion charges.
  • In cases, where the payment has been returned by the way of cheque/demand due to application rejection by L&DO, the relief is not applicable.
  • A freehold is a way of transferring the ownership of an immovable property from the governmental authority to the private owner, which eventually enhances the value of the property.
  • A conveyance deed is provided as the final document to the owner which is the registry in common place.
  • One need to applied to the concerned authorities in order to conversion of a leasehold property into freehold. We offer consultancy services in this regard.
  • You will be guided throughout the process from our professionals. All you essential documents will be taken care of, and we are offering all these services at nominal and reasonable price.
  • The arrears of ground rent along with interest @18% per annum wherever applicable would have to be paid by the applicant before conversion can be permitted.
  • In case where revision of ground rent has become due, the revised amount of ground rent will be notified to the lessee for depositing the amount before the execution of the conveyance deed.
  • In case of any legal dispute relating to title of the property, conversion shall not be allowed until the legal dispute is settled.

Original documents required for the conversion into freehold includes affidavit, indemnity bond, and undertaking on non-judicial stamp paper, along with a duly filled application form.

Besides these documents, other conversion charges and requisite stamp duty is required to be paid.

Documents required for MCD Freehold Conversion

  • Allotment/allocation letter
  • Letter of Possession and Possession Slip
  • Perpetual lease deed (if any)
  • Proof of Possession such as electricity bill or water bill
  • Photographs
  • Bank Challans regarding the payments of installments, rents or service charges.
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