The City and Industrial Development Corporation (CIDCO) has approved a proposal to convert leased land within its authority to freehold, so granting the property owners absolute ownership. This is a significant move that would affect thousands of individuals and various cities, most notably Navi Mumbai. Furthermore, there will be no fees associated with the sale, acquisition, or transfer of properties, nor will a NOC from CIDCO be necessary going forward.
At its meeting on Tuesday at Mumbai’s Nirmal Bhavan, the CIDCO board of directors finally granted the long-standing desire of the people of Navi Mumbai. CIDCO chairman Sanjay Shirsat declared, “This is a historic decision which will benefit CIDCO house owners all over Maharashtra, including Navi Mumbai, Sambhaji Nagar, Nasik, Palghar, Virar, Sindhudurg, and Jalna.” “It will benefit about two crore people in the state, with Navi Mumbai feeling the most of it.”
Upneta Shiv Sena recently, Vijay Nahata led a team of housing organisations from Navi Mumbai to Shinde, who instructed Shirsat. Shinde stated that residents will have full ownership rights to their properties, allowing them to mortgage, sell, or transfer without consulting CIDCO. For individuals who have completed their lease documentation, the conversion to freehold will be an easy process. To make it accessible to everyone, we are asking the government to impose a little surcharge.
Source: Hindustan Times
