It is lease property not free to hold

Review on Iris Court, G S T Road, Chennai

Today, I had a discussion with the Mahindra Life Space team regarding the property. The property is not freehold, and the ownership remains with the lessor, Mahindra World City Developers. However, the agreement grants perpetual leasehold rights, meaning you can use the plot indefinitely as long as you comply with the terms and conditions outlined in the agreement. Key advantages include: Long-term security: The perpetual lease provides a lifetime usage right, ensuring that as long as the lease terms are adhered to, you can enjoy the property without worrying about lease expiry. Transferability: If you plan to sell the property, it means transferring the leasehold rights to another party, subject to the approval of the lessor and payment of administrative charges. Clear title: The lease is registered, and you have legal rights to the property, protecting you from disputes over possession. Compliance with statutory requirements: The property has been fully developed with all necessary approvals from local authorities, ensuring no legal complications in development.

If you're looking for a secure and flexible long-term investment, this property offers stable usage rights with the ability to transfer or lease the plot as needed, making it an attractive option for prospective buyers.

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