Plan to convert collector's land to freehold land gets low response
Real Estate

Plan to convert collector's land to freehold land gets low response

The scheme introduced by the Maharashtra government to convert collector's land to freehold land in March 2019 has received poor response.

The individuals who undertook the scheme were rich and could afford to pay 25% of the Ready Reckoner rates as a premium.

The government gave more than 1,250 such plots to the individuals and housing societies. Only 19 plot owners opted for the conversion to freehold land.

Founder President of the Federation of Grantees of Government Land, Salil Rameshchandra, said that Mumbai has 3,000 housing societies on collector's land, yet one co-operative housing society sought the scheme.

Niranjan Hiranandani, who got the occupancy class II land or collector's land on Malabar Hill, converted to freehold land. He said that he paid more than should have been paid.

Occupancy land has two categories, class I land and class II land. These lands were bought from the government at the prevailing market prices. The occupancy class I lands have no restriction on sale and purchase and are freehold lands.

Class II lands are available on the outskirts of cities for cooperative housing societies. Individuals not only reclaimed the lands but also laid infrastructures, including roads, drains and street lights, at their cost. However, for sale, purchase and mortgage, the collector's permission is required.

This scheme remains valid till March 2022, and then the premium will increase to 60% for housing societies and 75% for individuals.

Image Source


Also read: Inspira Builders acquires over two acres of land in Bengaluru

The scheme introduced by the Maharashtra government to convert collector's land to freehold land in March 2019 has received poor response. The individuals who undertook the scheme were rich and could afford to pay 25% of the Ready Reckoner rates as a premium. The government gave more than 1,250 such plots to the individuals and housing societies. Only 19 plot owners opted for the conversion to freehold land. Founder President of the Federation of Grantees of Government Land, Salil Rameshchandra, said that Mumbai has 3,000 housing societies on collector's land, yet one co-operative housing society sought the scheme. Niranjan Hiranandani, who got the occupancy class II land or collector's land on Malabar Hill, converted to freehold land. He said that he paid more than should have been paid. Occupancy land has two categories, class I land and class II land. These lands were bought from the government at the prevailing market prices. The occupancy class I lands have no restriction on sale and purchase and are freehold lands. Class II lands are available on the outskirts of cities for cooperative housing societies. Individuals not only reclaimed the lands but also laid infrastructures, including roads, drains and street lights, at their cost. However, for sale, purchase and mortgage, the collector's permission is required. This scheme remains valid till March 2022, and then the premium will increase to 60% for housing societies and 75% for individuals. Image SourceAlso read: Inspira Builders acquires over two acres of land in Bengaluru

Next Story
Infrastructure Urban

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Next Story
Infrastructure Transport

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Next Story
Infrastructure Urban

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

-->