Ground Rent
Ground Rent
GROUND RENT
Ground Rent
• As a legal term , ground rent specifically refers to regular
payments made by a holder of leasehold property to the state ,
as required under a lease . In this sense, a ground rent is
created when a freehold piece of land is sold on a long lease.
• State lease the property generally for 99 years, the state is
owner and property holder is tenant and tenant needs to pay
ground rent.
• Annual ground rent charged by “ the state “ as tenant from
date of possession order before year 2004.
• Ground rent was Rs.0.25per 4 SQ. yard Per annum .
• Rs.1/-per 16 sq. yard per annum for residential, commercial,
industrial and amenities in all schemes.
• Surcharge on ground rent is 13% (from2001 to till date )
Calculation of Ground Rent
formula