Perpetual lease vs. free-hold land ownership: which is a better option?

Hiranandani parks

Chennai has witnessed a boom in demand for villa plots in recent years, which has led to an increase in searches for land and residential plots by potential buyers. And there have been reasons for this surge in demand. While the city has undergone tremendous civic and infrastructural development, developers’ contribution to this tide is also no less. Of all locations offering plots for sale in Chennai, Oragadam has been one of the fastest-developing areas.

Buyers seeking DTCP-approved plots in Chennai Oragadam have countless options in the suburb and surroundings, thanks to the sincere efforts of the developers coming here. Customers can also get plots with perpetual lease terms and free-hold land ownership.

The decision between a perpetual lease and free-hold land ownership ultimately depends on individual circumstances and priorities. Here are some factors to consider:

Free-Hold Land ownership:

  • Owning land provides a sense of security and control over the property.
  • Land ownership allows for greater flexibility in land use and development, as the owner has the right to make changes to the property without needing to seek approval from a lessor.
  • The owner may also benefit from any increase in land value over time.
  • It is easier to re-sell a fully owned plot of land with patta; as compared to a lease-hold property.
  • However, owning land for sale in Chennai also comes with responsibilities, such as property taxes and maintenance costs.

Perpetual lease:

  •   A perpetual lease allows for long-term use without outright ownership.
  •   The lessee typically pays rent to the lessor in exchange for the use of the land; which needs to be renewed with new terms, conditions and prevailing prices, once the lease term expires.
  •   Depending on the terms of the lease, the lessee may have some ability to improve the land and make changes to it.
  •   Perpetual leases may be useful only in situations where free-hold land ownership is not practical or desirable, such as in urban areas with high land values or in situations where land tenure is unstable.

In general, if you have the financial means and desire to have complete control over a property, owning free-hold land may be the better option. Ultimately, when looking for plots in Oragadam, it is important to carefully consider your priorities and options before making a decision.

Hiranandani Parks, Oragadam – Chennai, a 360-Acre master-planned integrated township, offers free-hold villa plots in Oragadam. These RERA and DTCP-approved plots in Chennai, Oragadam are spread over 45-acres, in the heart of the township. Sizes range from 600 to 4000 sqft. These plots come with all modern civic infrastructure and customers also get access to the township clubhouse and all the other amenities, situated within the township. Hiranandani Parks, is also home to Rela Hospital, TIPS School, Nilgiris Supermarket, to name a few…

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