If you are looking at commercial units in The Omaxe State, one phrase will come up in almost every conversation: “99-year lease.” It sounds long and reassuring, but many buyers don’t know what it actually means for ownership, resale and returns. This guide explains it in plain language.
About the project in brief
The Omaxe State is a 50-acre integrated development in Sector 19B, Dwarka. It is being built by Omaxe Group in partnership with the Delhi Development Authority (DDA) under a public-private partnership model. The plan combines a sports complex with retail, hospitality and food and entertainment districts.
What does a 99-year lease actually mean?
The land belongs to DDA. Omaxe receives long-term development rights, and the commercial area comes with a 99-year leasehold term. The sports facilities are run by Omaxe for a separate period (reported as 30 years) and then handed back to DDA.
For a buyer, this means you hold a right to use and transfer the unit for the remaining lease period, not ownership of the land itself.
Leasehold vs freehold: quick comparison
| Leasehold | Freehold | |
|---|---|---|
| Land ownership | Remains with the lessor (DDA) | Fully yours |
| Duration | Fixed term | No expiry |
| Resale | Allowed within lease terms | Generally simpler |
| Renewal | Depends on the lease deed | Not required |
Common myths
“99 years starts from the day I buy.” Not necessarily. The term usually runs from the original lease date, so the remaining period may be shorter. Always ask for the exact start date.
“Renewal is automatic.” Only if the lease deed says so. Read the renewal clause carefully.
“Leasehold is a bad investment.” Not true. A large share of Delhi’s commercial property is leasehold. What matters is the remaining term, the location and the demand for rentals.
How it affects your investment
- Resale value: Buyers pay more for longer remaining terms, so value can soften as the term shortens.
- Loans: Banks consider the remaining lease period when deciding tenure and eligibility.
- Transfers: Selling may need developer or authority approval and may involve transfer charges.
- Permitted use: Units can only be used for purposes the lease allows, such as retail or hospitality.
- Location strength: Dwarka’s connectivity to the expressway, airport and metro lines supports long-term demand.
5 questions to ask before you buy
- What is the lease start date and the exact remaining term?
- What do the DDA-to-developer lease terms say about renewal?
- What are the transfer and resale conditions and charges?
- What uses are permitted for my unit?
- Will the sub-lease be registered in my name?
Verify before you invest
Check the project’s registration on the Delhi RERA portal, and have a property lawyer review the lease deed before you pay any booking amount.
FAQs
Is a 99-year lease good for investment?
It can be, if the remaining term is long and the location has strong rental demand.
Can I sell a leasehold commercial unit?
Usually yes, subject to the conditions in the lease deed.
Can I get a bank loan on a leasehold unit?
Many banks lend against leasehold property, depending on the remaining term.
Is leasehold cheaper than freehold?
Often yes, but pricing depends on the location and project.
Interested in The Omaxe State?
Contact Omaxe Dwarka Projects to get the latest brochure, pricing and a site visit.