Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post - Megapolis Hinjewadi ph-3

pcpune · 16-09-10

I dont remember, but I sure I read somewhere that MIDC has leased Phase 3 Hinjewadi for 30 years only. Now, the builder is smart enough to NOT attach this agreement along with his original agreement.

However, builder can payoff some amount to MIDC and ask it to lease for 99 years instead of 30 years, and could make the deal "legal".

I dont think the builder is any mood to do so, it will left to the buyers after 30 years -- to get this renewed from MIDC.

For me, WHY BUY A LAND/FLAT where you DONT have ownership rights ?

16-09-10	#99
pcpune Veteran Member Join Date: Nov 2009 Posts: 1,304 My Mood: Thanks: 0 Thanked 21 Times in 6 Posts	I dont remember, but I sure I read somewhere that MIDC has leased Phase 3 Hinjewadi for 30 years only. Now, the builder is smart enough to NOT attach this agreement along with his original agreement. However, builder can payoff some amount to MIDC and ask it to lease for 99 years instead of 30 years, and could make the deal "legal". I dont think the builder is any mood to do so, it will left to the buyers after 30 years -- to get this renewed from MIDC. For me, WHY BUY A LAND/FLAT where you DONT have ownership rights ?