Maharashtra CM Fadnavis declared allowance of houses and plots from lease hold to free hold

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 allowed on the lease. The CIDCO board had approved a proposal to give an 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 allotted for residential purposes will have to pay a one-time transfer fee. Plots up to 25 sq meters will have to pay 5 percent transfer fees, which is 10 percent for 25 to 50 sq meters. It is 15 percent for 50-100 sq meters plot, and 20 percent for a 100-150 sq meters plot. For commercial plots, 25 percent transfer fee will be taken for 200 sq meters plots, 200 to 300 sq meters plots or more will have to pay 30 percent transfer fee. After the transfer fee is paid, in the 99-year lease period, the plots will be made freehold.

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