Chief Minister Devendra Fadnavis has directed the CIDCO to present a pro posal to the state cabinet for converting land in Navi Mumbai’s Municipal Corporation (NMMC) area from lease-hold to free-hold, a move that is likely to benefit 5 lakh families living across 344 sq km in the region.The directions came at a meeting that Fadnavis held with CIDCO managing director Bhushan Gagarani and local legislator Manda Mhatre on Monday.
At present, CIDCO owns land in NMMC area and the plots have been given on 60-year leases to housing societies, educational instructions, hospitals and other enterprises.
This means that every time, there is a sale-purchase transaction of a flat in Navi Mumbai, apart from paying the stamp duty, citizens have to pay a transfer fee to CIDCO between Rs 75,000 and Rs 1.50 lakh depending on the area of the flat, the year the building got occupation certificate, the year the society was formed and other factors.
Even for minor issues like a home loan transfer from one financial institution to another, a flat owner has to run from pillar to post to get an NOC from CIDCO.
Once the land in the area is declared free-hold, the ownership rights of the respective plots will pass on to the housing societies, educational institutions, hospitals and other enterprises concerned.
“The chief minister has asked us to present a proposal on making the land in NMMC area free-hold. He has sought the plan at the earliest. However, the housing societies will have to pay a one-time fee for converting their plots into free-hold,” informed Gagarani
Mhatre further pointed out that as the land belonged to CIDCO, redevelopment of old buildings in Navi Mumbai area was also hanging in the balance for years.
“It is expected that once the land is made free-hold, housing societies, which are as old as 40 years, can undergo massive redevelopment,” said Mhatre.