City and Industrial Development Corporation (CIDCO) has extended the Amnesty Scheme for collection of extra lease premium (ALP) for extension of construction periods on CIDCO plots in Navi Mumbai till September 15, 2024, in accordance with a Maharashtra government directive.
On January 12, 2024, the Maharashtra government unveiled the Amnesty Scheme in an effort to relieve difficulties facing the construction sector associated with the development of leased property in Navi Mumbai.
This system benefits developers, societies, the general public, and lease holders of tiny plots. It tackles the issue of recovering additional lease premium, service charges, and development charges.
A 50% reduction on the Additional Lease Premium, Service Charge, and Development Charge is available for CIDCO areas in Navi Mumbai and New Towns, which include Chhatrapati Sambhajinagar, Nashik, Nanded, and Nagpur. This is part of the Amnesty scheme extension. As of September 15, 2024, at the latest, applicants may apply under the Amnesty Scheme to receive these benefits.
Applications under the Amnesty Scheme shall be received by CIDCO, which will review them, process them in accordance with policy, and notify the applicants of the applicable amount within 15 days. After receiving such payment notification from CIDCO, applicants would need to make the payment within 15 days.
Source: The Free Press Journal
