A close relative intends to purchase a flat in a building which has been developed on a property whose lessor is the Municipal Corporation(Mumbai).My queries are:
1) Is it safe to buy a flat in such a building, if the intention is for investment?
2) Is it a wise investment proposal, if the property rate is lower than that in similar flats which are "free-hold"?
3) What basic precautions should one take while purchasing a flat in a "lease-hold" land of which the Municipal Corporation is the lessor?
CAclubindia
