CIDCO houses, commercial plots to be converted from lease-hold

Maharashtra Chief Minister Devendra Fadnavis Thursday announced conversion benefits of allotment of CIDCO houses and commercial plots from lease-hold to free-hold, so that people can own their properties.

The demand was made by public representatives from Navi Mumbai, Aurangabad and Nashik region.

In a meeting held on Thursday, Fadnavis issued directives to the City and Industrial Development Corporation of Maharashtra (CIDCO) to take necessary action immediately.

The lease-hold to free-hold conversion will be done after payment of one-time transfer fees.

The chief minister said the process will be implemented in Nashik and Aurangabad CIDCO plots, which have been allotted.

An official in the Chief Minister's Office (CMO) said in Navi Mumbai, the government acquires plots, which are developed by CIDCO and alloted on lease.

The CIDCO board had approved a proposal to give extension to the lease agreement and submitted it to the government for sanction.

The government decided that while extending the lease for 99 years, the plots alloted for residential purposes will have to pay a one-time transfer fee.

Plots up to 25 sq metres will have to pay 5 per cent transfer fees, which is 10 per cent for 25 to 50 sq metres. It is 15 per cent for 50-100 sq metres plot, and 20 per cent for a 100-150 sq metres plot.

For commercial plots, 25 per cent transfer fee will be taken for 200 sq metres plots, 200 to 300 sq metres plots or more will have to pay 30 per cent transfer fee.

After the transfer fee is paid, in the 99-year lease period, the plots will be made free hold.

The scheme will be for two years and the beneficiaries will not have to pay transfer fee for land or tenement transfer, and will not require CIDCO no objection certificate (NoC) for change of user.