In a significant move that will affect the real estate market in Navi Mumbai, the City and Industrial Development Corporation (CIDCO) has decided to hike property transfer fees by 50%. This decision is expected to have far-reaching implications for homebuyers and developers in the region.
CidcoNavi MumbaiReal EstateProperty Transfer FeesInfrastructureReal EstateApr 01, 2025
CIDCO stands for the City and Industrial Development Corporation, a government-owned organization responsible for the development and infrastructure of Navi Mumbai and other areas in Maharashtra.
CIDCO increased the property transfer fees to generate additional revenue for infrastructure development projects in Navi Mumbai and to address the growing infrastructure needs of the region.
The property transfer fee has been increased by 50%, affecting all property transactions within the jurisdiction of CIDCO.
The increase in fees will primarily affect homebuyers and developers, potentially leading to higher property costs and a slowdown in new housing developments.
The long-term benefits could include improved infrastructure, better urban planning, and enhanced public transportation, which could ultimately improve the quality of life in Navi Mumbai.
Knight Frank reports a 12% surge in property registrations in Mumbai, driven by strong housing demand and economic prosperity.
Tribeca to bring Trump Towers to Mumbai, Pune, and two other Indian cities, seeking new deals in the country's growing real estate market.
The Supreme Court has ruled in favor of the real estate sector, allowing companies to claim input tax credits (ITC) on construction costs for commercial buildings meant for renting purposes.
Pune's snail biodiversity has seen a significant decline of 27% due to rapid urbanization and increasing pollution, according to a recent study. This drop highlights the urgent need for sustainable urban development and conservation efforts.
These cities offer significant investment opportunities in the real estate sector, driven by robust infrastructure and demographic growth.
Abhishek and Abhinandan, sons of Maharashtra minister Mangal Prabhat Lodha, the founder of the Lodha Group, are involved in a bitter trademark dispute. A retired Supreme Court judge has been appointed as the mediator to resolve the feud.