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10 year lease hold on land

Last updated: July 26 2011
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  • 10 year lease hold on land

    Hi,

    Are you guys aware that there is 10year lease on land given by Noida Authority to builders , i.e builders will get land in their name only after 10year, in which they have to the entire payment of the land.

    For example, in capetown project supertech has to pay a total of 550 crore in a period of 10years (2020) i.e 55crore per year. Only after 2020 will supertech get the land in its name. If supertech, fails to make this payment NA will take over the land.

    But we get possession in 3years itself, how will we get registry done since land is still in NA name?

    what if builders defaults say after 5years, what happans to the land?
  • #2

    #2

    Re : 10 year lease hold on land

    This is why UP is lovingly called ULTA PRADESH.

    Comment

    • #3

      #3

      Re : 10 year lease hold on land

      Originally posted by manish_iitg View Post
      Hi,

      Are you guys aware that there is 10year lease on land given by Noida Authority to builders , i.e builders will get land in their name only after 10year, in which they have to the entire payment of the land.

      For example, in capetown project supertech has to pay a total of 550 crore in a period of 10years (2020) i.e 55crore per year. Only after 2020 will supertech get the land in its name. If supertech, fails to make this payment NA will take over the land.

      But we get possession in 3years itself, how will we get registry done since land is still in NA name?

      what if builders defaults say after 5years, what happans to the land?
      This issue has been discussed thread bare.. Pls search old post and u will get answer.

      Thanks..

      Comment

      • #4

        #4

        Re : 10 year lease hold on land

        can you point me to that thread if possible? i searched but couldn’t find it.

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