Now Reading: DDA halts leasehold-to-freehold conversions, says policy under review
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DDA halts leasehold-to-freehold conversions, says policy under review
The Delhi Development Authority has put all pending requests for converting leasehold residential properties to freehold on hold. Union minister Tokhan Sahu told the Rajya Sabha on Monday that the existing conversion…
The Story in Brief
The Delhi Development Authority has put all pending requests for converting leasehold residential properties to freehold on hold. Union minister Tokhan Sahu told the Rajya Sabha on Monday that the existing conversion policy is under review to make it more citizen-friendly. Conversion gives full ownership rights to property holders. The scheme covers most DDA residential properties except small plots up to 50 sqm, but is currently suspended until the review is complete.
Applicants can pay conversion charges in lump sum or instalments over five years at 12% annual interest. The policy requires No Objection Certificates from all mortgagees, and conversion is optional, not mandatory. The DDA has not said when the review will finish or how long the hold will last.
The Indian Opinion
The DDA’s sudden freeze on conversions will worry thousands of Delhi homeowners mid-process. The minister calls it a ‘citizen-friendly’ rationalisation, but years of bureaucratic delays have already made the scheme painful. Homeowners must now wait for an unspecified review. The real test will be whether the new policy lowers conversion charges and simplifies paperwork, or simply raises them. Until then, a simple question: how many pending applications will be cleared once the freeze lifts?
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
