LEASE MAKENDRAN

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ANNA UNIVERSITY SYLLABUS

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CE2402 ESTIMATION AND QUANTITY SURVEYING UNIT IV / lease (FOR VII – SEMESTER):

CE2402 ESTIMATION AND QUANTITY SURVEYING UNIT IV / lease (FOR VII – SEMESTER ) Prepared by C.MAKENDRAN CIVIL ENGINEERING.

LEASE :

LEASE The owner of a free hold property may give permission to any person to use his free hold property which is known as giving the property on lease. The person who takes lease is known as lease holder or lease. The owner who grants lease is known as lease.

Different types of lease.:

Different types of lease. Building lease Occupational lease  

1.Building lease : :

1.Building lease : The owner of a freehold land leases out his plot of land to somebody to construct a building, on payment of a yearly ground rent by the leaseholder. The lease holder constructs the building and maintains it at his own expenses and earns some rent from the building. The net income to the householder will be net rent minus the ground rent he pays to the lessor . As the leaseholder has to invest sufficient money is constructing the building, such lease is granted for long period for 99 0r 999 years. At the end of the lease period the lessor has got the right on his land together with the structure on the land.

2.Occupational lease :

2.Occupational lease In this case the building or the structure is built by the owners and the built up property is given on lease for the purpose of occupation for a specified period on payment of certain amount of annual rent. The occupational lease may be for residential, office, factory, shop, etc. The lease period will depend on the purpose for which the structure or building has been constructed. If for a factory, the lease period should be 10 to 30 years, for other case it may be less. In occupation lease the maintenance of the building or structure is usually done by the leaseholder which may be provided in the lease deed.

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