CIDCO Allows Freehold Conversion of Navi Mumbai Plots

14 Jul 2025 CW Team

In a significant relief for homeowners in Navi Mumbai, the City and Industrial Development Corporation (CIDCO) has announced that residential plots allotted on leasehold terms are now eligible for conversion to freehold ownership.

To implement this move, CIDCO has formed a committee to scrutinise applications for conversion. The scheme covers plots allotted via tender, CIDCO housing projects, and under the 12.5 per cent and 22.5 per cent schemes.

Eligible homeowners can apply by submitting required documents and paying the conversion fee, calculated as a percentage of the land’s ready reckoner rate. If a lease agreement mandates the recovery of unearned income, it will also be collected along with the fee. Additional charges apply for subsidised plots.

Once converted to freehold, no transfer charges will be levied for future property transactions, and the Department of Land Records will maintain official records for these plots.

The scheme is voluntary and applicable only to plots where lease deeds have been executed. CIDCO encourages citizens to utilise this opportunity to secure full ownership of their properties.

CIDCO has developed 14 key nodes across Navi Mumbai, including Airoli, Vashi, Nerul, Belapur, Kharghar, Ulwe and New Panvel, where many plots were originally allotted on leasehold terms.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..