Free hold charges
This query is : Resolved
Nitin Agarwal
(Querist)
15 January 2015
What is freehold charges and when it should be levied and whether it should be included in cost of Assets or not
Amol S Joglekar
(Expert)
15 January 2015
the land is LEASE hold OR FREE hold.
The charges levied by the revenue authorities to convert the LEASE hold land into FREE hold land are referred to as freehold charges
The charges levied by the revenue authorities to convert the LEASE hold land into FREE hold land are referred to as freehold charges
Nitin Agarwal
(Querist)
15 January 2015
whether free hold charges levied once when converting lease hold land into free hold land and what is the basis for levy of such charges?
Amol S Joglekar
(Expert)
16 January 2015
it should be included in the cost of asset if paid lumpsum at the time of conversion.
The basis for levy of such charges is as per the Building Control Rules and the Developement plan of that area as fixed by the local authority...
The basis for levy of such charges is as per the Building Control Rules and the Developement plan of that area as fixed by the local authority...
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