Navi Mumbai Residents Rejoice as CIDCO Announces Freehold Land Conversion
The City and Industrial Development Corporation of Maharashtra (CIDCO) chairman, Sanjay Shirsat, has announced the conversion of leasehold land to freehold, bringing relief to Navi Mumbai residents.
Navi MumbaiCidcoFreehold Land ConversionSanjay ShirsatCity And Industrial Development Corporation Of MaharashtraReal Estate MaharashtraOct 03, 2024
The Navi Mumbai Co-Operative Housing Federation, along with its 3500 affiliate Co-Operative Housing Societies, and the Navi Mumbai Vyapari Mahasangh, with its 22000 affiliate members from the trader's class, had united last month to push for CIDCO to give up the practice of collecting transfer charges..
A total of 500 Co-operative Housing societies across Navi Mumbai had previously issued letters in support of this cause. The movement of residents against CIDCO levying transfer charges was led by the Navi Mumbai Citizen Foundation. The founder of the foundation, Satish Nikam, welcomed the decision, stating that the CIDCO board has decided to make the CIDCO land freehold for residents, which means they will no longer have to pay transfer charges.
However, some residents are skeptical about the announcement, fearing it might be a pre-election stunt. Nikam assured that the citizens are smart enough not to fall for such gimmicks and will continue their protest if this turns out to be a political stunt. The City and Industrial Development Corporation of Maharashtra (CIDCO) is a state-owned corporation responsible for the development of Navi Mumbai. CIDCO was established in 1970 with the aim of creating a planned city to decongest Mumbai.
CIDCO was formed in 1970 under the Indian Companies Act, 1956. The corporation is responsible for the development of Navi Mumbai, which includes the creation of physical and social infrastructure. CIDCO has played a crucial role in the development of Navi Mumbai, making it one of the largest planned cities in the world.
The City and Industrial Development Corporation of Maharashtra (CIDCO) is a state-owned corporation responsible for the development of Navi Mumbai. CIDCO's vision is to create a sustainable and livable city with world-class infrastructure.
Frequently Asked Questions
What does the CIDCO's announcement mean for Navi Mumbai residents?
The announcement means that Navi Mumbai residents will no longer be leaseholders of any properties in the city and will not have to pay CIDCO transfer charges on the purchase of any property.
When is the Government Resolution (GR) regarding the freehold land conversion expected to be issued?
The Government Resolution (GR) is expected to be issued by October 8.
What is the role of CIDCO in the development of Navi Mumbai?
CIDCO is responsible for the development of Navi Mumbai, which includes the creation of physical and social infrastructure.
Why are some residents skeptical about the announcement?
Some residents are skeptical about the announcement, fearing it might be a pre-election stunt.
What is the vision of CIDCO?
CIDCO's vision is to create a sustainable and livable city with world-class infrastructure.
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