New Delhi:
The South Delhi Municipal Corporation (SDMC) has simplified the process of conversion of leasehold properties to freehold.
The chairman of the standing committee , SDMC, Raj Dutt Gehlot, has informed that the standing committee of the SDMC has eased the process of conversion of leased commercial properties to freehold in markets transferred from the government of India’s L&DO/DoE.
“With the approval, the person won’t need to seek permission from the authority concerned before the transferring the leasehold property,” Gehlot further said, adding this simplified process will be application on commercial properties in 38 markets under SDMC’s jurisdiction out of 79 such markets transferred by L&DO to local bodies.
There are 1,252 shops, which are on leasehold basis, including 392 shops on license fee basis. 352 shops are in markets such as Mohamadpur Shopping Complex, Lodhi Road Complex I & II, M. B. Road, Pushp Vihar Sector I to IV Markets, Hudco Place, Sadiq Nagar Market and Y-Shaped Building near ITO, which as per the Cabinet decision taken in year 2000, do not come under the purview of conversion as these markets have been listed as non-ownership markets. Besides this, there are 803 shops which have already been conferred ownership rights by the DoE in whose case lease deeds are to be execute and also shops which are still on license fee basis to whom ownership rights are to be conferred.
According to new proposal, an owner will be required to pay conversion charges at the time of getting property freehold @ 10% of the value of the circle rate of property multiply by area of the property and 33% of the conversion amount as transfer fees to the SDMC
