Also called: Freehold property, Absolute ownership
Ownership of a property and the land under it without a time limit and without a landlord above you. You can sell, gift or mortgage it without anyone's permission.
How it works and what to check
Most privately developed land in India is freehold. A freehold owner still needs planning permission to build and pays property tax, but there is no lease to renew and no ground rent.
Some development authorities, Delhi's DDA among them, have let leaseholders convert to freehold on payment of a charge. Check whether a property sold as freehold has a registered conversion deed.
Common questions
Is freehold better than leasehold?
Freehold is simpler to sell and mortgage. Leasehold can be fine where the lease is long and transfers are routine, but check the remaining term and the transfer charges.
Can leasehold be converted to freehold?
Some authorities allow it on payment. The conversion is done by a registered deed.