According to a news reports (see front page of The Hindustan Times, New Delhi Edition, Dated 28.03.2011), Delhi Development Authority(DDA) has changed norms to make selling of a DDA flat easier for the legal owner(s) of the flat. Owners can now convert property from leasehold to freehold on payment of a conversion charge and sell it without any hassles.
The conversion charge for residential properties vary from Rs.27,720/- to Rs.4,575/- per sq. metre, depending on the locality.
Earlier, all flat or shop owners were joint owners of the land. To sell a flat or shop in a multi-storey, approval of all owners was a must. But now, after getting a flat converted to freehold, the owner of the flat will become the sole owner of the flat, who will not need to seek any approval from other flatowners in the building for selling his/her flat.
Owners, however, will need to have all documents such as the sale deed and power of attorney when applying for conversion. A no-objection certificate will be needed, if the property is mortgaged.
Conversion will not be allowed if there is a legal dispute over the property title.
