Types of property ownership in India

What is a 'freehold' property?
Most houses in India are 'freehold' properties. This means the owner has completely owns both the property itself and the land on which the property is situated. With freehold property, the freeholder is solely responsible for the upkeep of the property.

What is a 'leasehold' property?
Some flats, houses & property in India are sold on a 'leasehold' basis, which means the property is owned for a specific number of years, as set out in a lease - this can be anything from 99 years to 999 years. During this period, a leasehold property can still be bought and sold. The person owns the leasehold property is the freeholder who receives the property when the lease runs its course.

 What is a 'commonhold' property?
The 'commonhold' property is a newer form of freehold ownership, which enables freehold ownership of individual flats and houses within a building complex or estate. Commonhold properties have no landlords. Each resident, or 'unit holder', in the property has equal rights. They effectively own their flat as a freehold plus a share in the common structure.