99 year lease

Expat issues, Foreigners working in India, Dual Taxation, double taxation, claiming tax credits for tax paid in another country, taxes of other countries, Dual taxation, DTAA, Double taxation avoidance agreement, tax saving schemes, tax planning, tax return filing and so on
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LearnStuff
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Joined: Tue Jan 23, 2007 4:17 am

99 year lease

Post by LearnStuff »

Does anybody know what 99 year lease means and how it works in the context of an independent house in India? The buyer has entered into an agreement with the builder for house construction and for the plot where as after construction it was registered in buyers name for a 99 year lease. The buyer has expected a regular registration of ownership. Did the buyer got cheated? Either way, is there any reason for the buyer to worry about? What is the difference between a regular registration and a 99 year lease registration? If the buyer wants to sell the house how does it work? Thank you in advance for any inputs and sharing your experiences.
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