New Delhi. Great news has emerged for thousands of small and medium industrial units present in the national capital Delhi. Actually, Lieutenant Governor of Delhi VK Saxena has approved to convert these plots from lease hold to free hold. While allowing the extension of Conversion Scheme-2005 for industrial plots, the Lieutenant Governor said that the plots allotted on lease hold basis in 2000-2001 were restricted for sale, purchase and transfer even after 23 years, now they will get relief. Will get it.
Let us tell you that these industrial units present in Delhi were allotted industrial plots by Delhi State Industrial and Infrastructure Development Corporation Limited (DSIIDC) in the year 2000-01 under the Rehabilitation Scheme of 1998. Since then these plots were continuously being run on lease hold. Under this scheme, till now a total of 21759 plots have been allotted on lease hold basis in various industrial areas.
Traders were unhappy due to lack of facilities
According to the information, despite 23 years having passed since the plot was allotted, there was a lack of basic facilities due to which the traders were upset and were continuously demanding to hold it free. The Lieutenant Governor was told that progress has been made in the development of industrial plots in Bawana and Narela industrial areas. But when the Lieutenant Governor himself visited the industrial area, he came to know the truth that DSIIDC had so far failed to provide adequate infrastructure. After which he also expressed his displeasure towards DSIIDC. Subsequently, the Lieutenant Governor gave in-principle approval with conditions with a view to encourage the original allottees to shift from non-conforming areas, complete construction and bring these industrial plots into use.
What is leasehold and freehold?
Leasehold Property
Lease property is a type of land that is owned by another person or organization who has given it on rent for a long period of time. The owner of a leased property does not have ownership rights in manufacturing, use, and marketing. The lease period of a leased property can generally be 99 years, 125 years, or other periods. After the termination of the lease, the owner or leaseholder of the land may reconsider permission for ownership.
Freehold Property
Freehold property is land whose complete ownership and control rests with its owner. There is no rental period, and the owner can use it himself or sell it as he wants. The owner of a freehold property has complete control over the ownership, construction, marketing, and use of the land.
Don't forget to like Lalluram.Com's WhatsApp channel.https://whatsapp.com/channel/0029Va9ikmL6RGJ8hkYEFC2H
Read more- Health Ministry Deploys an Expert Team to Kerala to Take Stock of Zika Virus
Click here to read the news of Chhattisgarh. Click here to read the news of Uttar Pradesh. Click here to read the news of Lalluram.com in English. Click here to read the news of sports. Click here to read the big news of entertainment.
