+
CIDCO Allows Freehold Conversion of Navi Mumbai Plots
Real Estate

CIDCO Allows Freehold Conversion of Navi Mumbai Plots

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.

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.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?