Glossary ยท F
Freehold Property
Property in which the owner holds the building and the land beneath it outright, with no lease grantor involved.
What is Freehold Property?
A freehold property gives the owner absolute ownership of both the building and the land beneath it, in perpetuity. In Indian real estate, the owner can sell, lease or renovate a freehold property, subject to local zoning, without consent from any state authority, unlike a leasehold property.
Practical example
A buyer purchases an independent villa on a freehold plot in Delhi. Fifty years later, the buyer's children decide to demolish the ageing villa and build a four-storey apartment block. Because the land is freehold, they need only municipal building plan approval, not land-use permission from a lease grantor.
In SuperWise
In SuperWise a title deed or sale deed is stored as a project document with a number, a date and a folder. Tags make the document searchable, so a team can tag a deed as freehold or leasehold. Folder access is set per role for viewing, uploading and deleting.
See SuperWise on your own project
Book a demo and we walk through your site data.