JAIPUR: The residents can now keep the ownership title of residential land forever as law department has given final approval on the proposal of free hold lease on Tuesday.
At present, an owner can claim a right on a residential property only for 99 years. The urban development and housing (UDH) department after issuing the notification will abolish the 99-year lease and introduce free hold system in the state.
A senior UDH official while talking to TOI said that in current scenario, the state government levies 8 times of the lease money, payable one time to grant 99 years’ lease on residential properties. Once the one-time lease money is deposited, the allottee receives a certificate from the department. For the free hold lease, the department has proposed to increase lease money by 10 times from the earlier 8 times.
“The law department has given a nod on Tuesday. Once implemented, it will increase the revenue of the state from these properties.” the official said.
The UDH department earlier too had sent the proposal of free hold lease to the finance department. However, the finance department raised many objections on the proposal.
Similarly, for commercial properties in current scenario, the state government levies 8 times lease money. This has been proposed to be hiked to 12 times. According to the sources, “Many deposit one-time lease money for residential properties. Moreover, it becomes very difficult to take possession of houses after 99 years lease expires.”
In addition, the quota for disabled has been increased from 2% to 3% in all the Rajasthan Housing Board (RHB) and Jaipur Development Authority (JDA) residential schemes.
Credits ET Realty