In a significant relief for homeowners in Navi Mumbai, the City and Industrial Development Corporation (CIDCO) has announced that residential plots allotted on a leasehold basis can now be converted to freehold.

To streamline this process, CIDCO has formed a committee to scrutinise applications received for conversion. The authority has encouraged eligible citizens to apply under the new scheme to gain full ownership rights over their residential plots.

The scheme includes plots allotted through the tender process, CIDCO-constructed housing projects, and those distributed under the 12.5 per cent and 22.5 per cent land schemes.

Eligible plot owners must submit necessary documentation and pay a conversion fee calculated as a percentage of the ready reckoner rate for the specific land parcel. In instances where the lease agreement stipulates recovery of unearned income, those amounts will also be recovered alongside the conversion fees.

Additionally, plots originally allotted at concessional or subsidised rates will attract extra charges beyond the standard conversion fees. The scheme remains optional and applies only to plots with executed lease deeds.

Once converted to freehold, CIDCO will no longer charge transfer fees for subsequent property transfers. The Department of Land Records, Government of Maharashtra, will update the records of rights accordingly.

CIDCO has developed 14 key nodes in Navi Mumbai—including Airoli, Vashi, Nerul, Belapur, Kharghar, Kamothe, New Panvel, Ulwe, and Dronagiri—where land parcels were originally allotted on a leasehold basis.