CIDCO approves conversion of land to freehold for Navi Mumbai residents
Led by newly appointed CIDCO Chairman Sanjay Shirsat, the CIDCO Board of Directors unanimously passed the proposal during a meeting at Nirmal Bhavan, Navi Mumbai on October 1.
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The decision, which now awaits state cabinet approval, will allow residents to gain long-term ownership rights to their properties. (File Photo)The City and Industrial Development Corporation (CIDCO) has approved a long-standing demand to convert leasehold land to freehold, bringing significant relief to Navi Mumbai residents. Once approved, the new policy will eliminate transfer fees, easing the financial burden on property owners.
Led by newly appointed CIDCO Chairman Sanjay Shirsat, the CIDCO Board of Directors unanimously passed the proposal during a meeting at Nirmal Bhavan, Navi Mumbai on October 1. “A long-pending decision was unanimously approved during the recent board meeting, where it was decided to convert leasehold land to freehold. This marks a historic move, making all CIDCO houses across Maharashtra freehold properties,” said Shirsat.
The decision, which now awaits state cabinet approval, will allow residents to gain long-term ownership rights to their properties.
“We reached this decision following suggestions from the Chief Minister and other cabinet members, which gives us confidence that it will be approved by the state as well,” added Shirsat. He also mentioned that the Government Resolution (GR) may come by October 8.
Previously, CIDCO land was leased for 33 years, requiring renewal, and residents were charged annual lease rents and a transfer premium of 1% whenever a flat was sold. This practice had faced criticism from many residents, societies, and associations like the Navi Mumbai Housing Federation. However, they have now welcomed the new decision, describing it as a relief for them.
Shirsat expressed optimism over the decision sand said the move will benefit nearly all CIDCO-constructed buildings, cooperative society tender plots, and other residential developments, paving the way for self-development projects.
Chairman of Mumbai Slum Improvement Board and Shiv Sena Leader Vijay Nahata, who had been actively pushing for the conversion of land to freehold, expressed satisfaction over the move.
“This decision brings relief to Navi Mumbai residents, as they previously had to go through lengthy procedures for selling, mortgaging, redeveloping, or managing any matter related to their homes. These processes were often time-consuming, and the new policy will help simplify and streamline them. After nearly four years of continuous follow-ups with CIDCO, this decision is set to benefit CIDCO house owners across Maharashtra,” said Nahata.
“This long-awaited decision marks a significant step. CIDCO’s control over Navi Mumbai should gradually transfer to Navi Mumbai Municipal Corporation (NMMC) as the sole planning authority. Granting freehold status to residential, commercial, and public properties is a major move, and we hope the cabinet approves the proposal,” said Netra Shirke, ex-corporator of NMMC.
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