Realty Beat

Cidco’s New Chief Aims to Convert Leasehold Land to Freehold in Maharashtra, ET RealEstate


<p>Representative image </p>
Representative image

NAVI MUMBAI: Sanjay Shirsat, the newly appointed chairman of City and Industrial Development Corporation (Cidco) and Shiv Sena MLA from Aurangabad (W), said Cidco’s aspiration is to convert leasehold land under its jurisdiction into freehold. He emphasised that this issue is not confined to Navi Mumbai, but extends across the state.

Shirsat assumed office at the Cidco headquarters in CBD-Belapur on Thursday, filling the position that had been vacant for the past four years.

Under the existing Cidco’s leasehold policy, land acquired for city development across Maharashtra is allotted to lessees for a period of 60 years, with Cidco retaining ownership rights. Cidco holds the 7/12 extract (ownership document) for the entire Navi Mumbai area, which was acquired in the early 1970s to develop a satellite city and alleviate congestion in mainland Mumbai.

Shirsat pledged that Cidco will seek govt assistance in implementing the policy and strive to make a swift decision on the issue of freehold. Navi Mumbai residents have long advocated for freeholding of land, while Cidco has maintained that acquired land cannot be freeholded, and owners will remain leaseholders in perpetuity, with the option to extend the leasehold term upon payment of a premium.

“Cidco has played an important role in the development of the state. The leading authority in the field of urban planning and development is Cidco’s identity, along with the development of Navi Mumbai International Airport, NAINA city, and mass housing schemes. Our focus will be on completing projects within the scheduled time frame…and take decisions in the interest of the project-affected and general citizens of Navi Mumbai,” said Shirsat.

  • Published On Sep 21, 2024 at 09:30 AM IST

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