Anyone please guide me what is the difference between lease flat or ownership flat.?
Are these both are same.?
As per my understanding, Lease flat is the type of flat whose ownership is with the authorized body e.g. Municipal committee, cannt board etc. The flat is awarded to you on 99 years renewable lease.
Ownership flat is a freehold flat whose ownership is with you and you can keep or sell it just like a piece of land.
True Khlaid sb...
On a similar note:
If I am not wrong, all of the BTs' land all across are actually leased...? Cant be pledged in banks against guarantee to say the least!!