If you have a property in Noida/Greater Noida, it is likely you have this concern about how much you will have to pay to authority for renewal of Lease of the property after lease expiration. We have discussed here previously that property in Noida/Greater Noida is on leasehold for a period of 90 or 99 years as mentioned in property title document (lease deed) with the builder. We also deliberated in detail the implication of lease hold property on buyers. We also looked at a calculator that should help you calculate the actual lease rent applicable for your project (builders may charge you abnormally high in absence of a reference calculator for lease rent). Today, we are sharing a calculator with you to find the projected lease rent after 90 years of the day sub lease was executed between you and authority.
To get to the calculation, specify the lease rent that you are paying to the builder (in sq ft) while buying. Also, specify your flat size and click on Calculate button to get the projected lease rent. The calculation assumes that authority shall be hiking the lease rent by exactly 50% every 10 years (if you refer to any lease agreements with builders in Noida/Greater Noida, you will find that there is a clause mentioning that lease rent can be increased by 50% in every 10 years). As a yard stick, projected lease rent shall be somewhere close to your property rate today.
Comments/Feedback invited.Last updated: February 6, 2017 at 18:43 pm