Free hold charges

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Nitin Agarwal (Querist)
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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

Amol S Joglekar (Expert)
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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

Nitin Agarwal

Nitin Agarwal (Querist)
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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

Amol S Joglekar (Expert)
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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...

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