“Is CIDCO transfer no longer required now that Navi Mumbai has been converted to freehold land ?”
We receive a lot of calls, emails and messages asking the same question.
Unfortunately, the short answer to that is …. It is required 😊
But then you will ask “But I read in the papers that it is not required now”
The short answer to that is…. Read the fine-print (its always about the fine-print) and do the math. 😊
What does the so-called ‘press release’ say?
The lease period of the land in Navi Mumbai will be extended from 60 years to 99 years.
Those who pay the 20% of CIDCO reserve price for their plot of land, will get their lease extended to 99 year period and will not have to pay CIDCO transfer charges during this period (Mind you, it still stays leasehold land).
Most importantly, this ‘scheme’ will be implemented only in certain areas and only for 2 years on ‘trial basis’.
What happens after 2 years ? 😁😂
Kharghar does not come under this ‘scheme’ (how nice 😄)
Now let us examine what the CIDCO Reserve price of Land is in Navi Mumbai in Nerul.
As per CIDCO records, the reserve price of land in Nerul is almost Rs 14,000 per sq meter.
So 20% of reserve price of this land comes to 2,800 per sq meter.
For my society (measuring 8000 sq meters) in Nerul, this comes to 2,800 X 8000 =2,24,00,000 (Two Crores twenty four lakhs)
Simple math shows that it is almost impossible for any society to cough up that much money in one shot just to avoid paying CIDCO transfer charges of a few thousand rupees for every sale and purchase of a flat (especially when that charge is borne by the purchaser and not the society 😊)
By now you are almost tearing your hair and wondering why the govt is playing these games ?
The answer is simple : CIDCO earns 300-400 crores every year via CIDCO Transfer charges. With this money it provide services and pays salaries to its staff. If you take away this 400 crores, how will CIDCO pay its bills ?😊 This balancing of income and expenditure is known as budget.
BJP is well known now for its jumlas and this is nothing but a new jumla designed to fool people., just like all their other fake promises like abolishing toll tax in Maharashtra etc. Toll is collected by the contractor to recover his cost of constructing the road. If he is deprived of that money, he will take the govt to court and recover the money by hook or crook as everything is in writing in the contract. But such is the fate of this country that people are hardly aware of the laws and fall for blatant lies of politicians.
Instead to removing the draconian 18% GST imposed on CIDCO transfer charges (which was not there before 2014) and eradicating the rampant corruption inside CIDCO, Manda Mhatre (BJP) and Devendra Fadnavis are playing these devious games designed to fool people at election time.
What has she (Manda Mhatre) done about the rampant corruption in CIDCO ? Nothing.
She stays mere 300 meters from the CIDCO HQ. If she claims that she does not know about the corruption, then she does not deserve to be an MLA. But knowing politicians and their capacity and capability, she may hardly have a clue about rules and procedures. The fact that she is just 4th std pass also doesn’t help the situation.
Goodbye BJP. Goodbye Jumla sarkar.