+
Navi Mumbai Plots Can Now Be Converted to Freehold
Real Estate

Navi Mumbai Plots Can Now Be Converted to Freehold

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.

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. 

Next Story
Infrastructure Transport

Indian Railways Built 215 Km Roads for 111 Km USBRL Line

In an engineering feat, Indian Railways constructed over 215 kilometres of roads to lay just 111 kilometres of railway track under the Udhampur–Srinagar–Baramulla Rail Link (USBRL) project, Union Railway Minister Ashwini Vaishnaw said on Wednesday. The section, connecting Katra to Banihal through some of the most demanding Himalayan terrain, is now hailed as one of the country’s most challenging railway lines post-independence.Initially built to transport manpower, equipment and construction materials to remote work sites, the roads have since become valuable infrastructure assets, signi..

Next Story
Infrastructure Urban

India Gains Edge in US Market Under New Tariff Regime

India is poised to gain a strategic edge in the United States market under the evolving US trade and tariff structure, offering an advantage over competitors such as China, Canada and Mexico in key sectors like nuclear reactors, iron and steel, textiles, electricals and vehicles, according to a Niti Aayog report.The third edition of Niti Aayog’s “Trade Watch Quarterly” for Q3 of FY25 highlighted that, under the current US tariff regime at the HS 2 level, India is likely to gain competitiveness in 22 of the top 30 product categories. These categories account for 61 per cent of India’s e..

Next Story
Infrastructure Urban

Moglix Opens Rs 2.8 Billion Bitumen Plant in Mathura

Moglix, one of Asia’s largest B2B e-commerce and supply chain technology firms, has launched a greenfield bitumen processing facility under its manufacturing arm, DRG Industries. Situated in Kosi Kalan, Mathura, the facility will commence commercial operations in July 2025. This move reflects Moglix’s commitment to driving India’s infrastructure transformation through sustainable and high-performance materials.As India advances toward its Viksit Bharat vision, building infrastructure that is safe, durable, and sustainable is vital. With the second-largest road network globally, the count..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?