Lease of the property

Avinash Jeevan Dsouza (Assistant In Charge Accountant)   (3292 Points)

27 November 2017  

Case:

Mr. A is giving property on a lease of 50 cent and 1 crore for 99 years to build a medical rehabilitation unit.

Condition: After 99 years we need to give back property with constructed building.

How do we need to book the same in books of account?