SDMC eases conversion of leased commercial properties to freehold
The South Delhi Municipal Corporation (SDMC) has eased the process of conversion of leased commercial properties to freehold in markets transferred from Government of...
- Aug 13, 2020
The South Delhi Municipal Corporation (SDMC) has eased the process of conversion of leased commercial properties to freehold in markets transferred from Government of India's Land and Development Organisation (L&DO).
With the move, the person does not need to seek permission from the authority concerned before transferring the leasehold property.
The Standing Committee Chairman Raj Dutt Gehlot has informed that a total of 79 markets transferred by the department out of which 38 falls under the jurisdiction of SDMC.
“There are 1,252 shops, which are on leasehold basis, including 392 shops which are on license fee basis out of which 352 shops in markets such as Mohamadpur shopping complex, Lodhi Road Complex I and 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,” he said.
Besides this, there are 803 shops which have already been conferred ownership rights in which case lease deeds are to be executed and also shops which are still on license fee basis to whom ownership rights are to be conferred, he said.
According to the present conditions, a lessee cannot sell leasehold property without permission of the lessor. After approval of a proposal by the Standing Committee held on Tuesday, the condition of seeking mandatory permission from the concerned department of the South Delhi Municipal Corporation for selling the property is not mandatory.
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