Now, citizens can ‘own’ Navi Mumbai land for 90 yrs
Now, lease-holders in Navi Mumbai will be able to pay a 30 per cent premium on the ready-reckoner price in return for the benefits of owning ‘freehold’ land for a 90-year period.
Confirming the move, a senior official in the chief minister’s office said: “After much deliberation, a decision was taken that we can’t part with government-owned land. That’s why it was decided that we will give all the benefits of freeholding [to the lease-holder who pays the premium] for 90 years, but not part with ownership.”
The move is likely to benefit 5 lakh families living across 344 sq km in Navi Mumbai. At present, the City and Industrial Development Corporation (CIDCO) owns land in areas under the Navi Mumbai Municipal Corporation (NMMC), and plots have been leased out to housing societies, educational instructions, hospitals and other enterprises for 60 years.