Housing societies on Government plots may get ownership in Maharashtra

Housing societies on Government plots may get ownership in Maharashtra
Jul 2017 , by , in Latest News

The state revenue department may allow the conversion of collector land to freehold plots upon payment of a premium. The state government is likely to sell residual rights on the plots for a premium. This could benefit around 3,000 housing societies in Mumbai and a total of 22,000 societies across the state.

The residents of such societies welcomed this move of the government as they would not face any restrictions on transfer or sale of flats. The Maharashtra Land Revenue Code allows the government to place restrictions on transfer of land as the plots had been granted for an objective. But, the collector also regulates the sale, management and transfer of flats, which is not its mandate, resulting into the harassment of the citizens.

In 2016, when Eknath Khadse was then revenue minister, the state cabinet approved the proposal to convert collector land to freehold land. A committee was set up headed by revenue secretary Manu Kumar Srivastava to recommend the conversion. A senior revenue official said that the government would allow the conversion provided the residents are willing to pay for it. The report is expected to be submitted soon. The department has already increased the premium for redevelopment of buildings on collector land from 10% to 25% of the Ready Reckoner rate. Residents will need to pay another 1% of the RRR if they want to mortgage the land for raising funds for the redevelopment.

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