Latest news with #CityandIndustrialDevelopmentCorporation
Hindustan Times
12 hours ago
- Business
- Hindustan Times
CIDCO's 667-acre Aerocity plan gains momentum as Navi Mumbai International Airport readies for launch
As Navi Mumbai International Airport (NMIA) prepares to go operational in September, the state government has fast-tracked plans for a 667-acre Aerocity near the airport. The City and Industrial Development Corporation (CIDCO) has initiated the process of appointing a consultant to draft the Master Plan, which will allocate around 123 acres each for residential, commercial, and retail developments. Navi Mumbai Aerocity update: The City and Industrial Development Corporation (CIDCO) has initiated the process of appointing a consultant to draft the Master Plan, which will allocate around 123 acres each for residential, commercial, and retail developments. (Picture for representational purposes only)(HT Files ) CIDCO officials said a techno-economic feasibility study will be undertaken for commercial, retail, residential, industrial, and mixed-use projects, each spanning over 120 acres. "The Navi Mumbai Airport is going to be one of the major value additions to Mumbai Metropolitan Region (MMR) and will form an invaluable asset to the nation. The Aerocity is being designed and developed to accommodate financial services, corporate offices, export-oriented services, aero-centric warehousing, along with hotels, hospitals, schools, residential and entertainment facilities," a CIDCO official told The officials said that a Master Plan will help assess the market's needs, its financial feasibility assessment, and infrastructure design, among other things, while keeping the domestic and global outlook. Also Read: Here's a look at infrastructure projects that may impact Navi Mumbai's real estate markets Infrastructure planning consideration CIDCO has floated a tender to appoint a consultant for preparing the Aerocity Master Plan. The document specifies that the plan will be drawn up keeping in mind the surrounding infrastructure development linked to the upcoming airport. "The consultant will have to assess the current urban landscape and development trends, real estate scenarios in Navi Mumbai, considering Navi Mumbai International Airport which is nearing commissioning, Navi Mumbai Airport Influence Notified Area (NAINA) and other major projects such as the Mumbai Trans Harbour Link (MTHL) also known as Atal Setu, Navi Mumbai Metro Lines, suburban railway line expansions, and other projects of ports and highways," reads the tender document. The CIDCO is the special planning authority that has played a major role in development and planning of Navi Mumbai that was conceived as a satellite city to Mumbai in the 1970s. The CIDCO has developed 14 nodes of areas having mixed use of residential, commercial, retail, among several others. CIDCO officials said land for the Navi Mumbai Aerocity was acquired alongside the airport's construction. A consultant will now be appointed to prepare the master plan and provide transaction advisory services for the proposed development. Also Read: Housing plots near airports see 84–118% appreciation in four years, outshine apartments: Report Developers noted that the Navi Mumbai Airport presents the government with an opportunity for truly planned development, something Mumbai lacked historically, at least at this scale. "Today, several areas of Mumbai are flooded, and there is waterlogging. However, there is nominal waterlogging in Navi Mumbai, and movement is not impacted. This is the result of planning by CIDCO and several authorities who have made Navi Mumbai what it is today. With Navi Mumbai AeroCity, we have the opportunity to develop another Vile Parle that has options for hotels, hospitals, education, but in a planned manner," Manohar Shroff, senior vice president of CREDAI-MCHI, Navi Mumbai, a real estate apex body, said. Also Read: Mumbai real estate: Why are pilots eyeing plots and luxury villas near Navi Mumbai airport? 9 Aerocities in India According to media reports, the country currently has nine Aerocities that are constructed or in the development stage, including those of Delhi, Hyderabad, Mohali, Durgapur, Jewar Airport near Noida, near Ayodhya International Airport, Devanahalli aerocity near Bengaluru Airport, and Navi Mumbai. Navi Mumbai Airport was conceived around 28 years ago, in 1997, as a plan to have a second airport in MMR and decongest Mumbai Airport. The Adani Group will operate both Navi Mumbai Airport and Mumbai Airport. With the airport's inaugural flight expected in the coming months, pilots and aviation professionals' interest in nearby plots and luxury villas has noticeably increased, had reported in April 2025. Local real estate developers and consultants report a growing number of pilots, especially those nearing retirement, seeking long-term investments in the area. According to developers, the appeal goes beyond convenience. Many aviation professionals have seen firsthand the sharp rise in property values around Mumbai's current airport hubs, such as Juhu, Vile Parle, and Santacruz, and are betting on similar growth around NMIA. Developers note that Navi Mumbai Airport's strategic location is roughly equidistant from Mumbai and Pune. As a result, buyers from West Pune are increasingly investing in properties near the upcoming airport.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Hafeez Contractor-designed flats on Palm Beach Road offered at a bargain to state officials
Navi Mumbai: The City and Industrial Development Corporation (CIDCO) has floated a ₹610 crore construction tender for Maha Nivas, a premium residential project in Navi Mumbai, exclusively reserved for the state's top elected representatives and public officials. Located along Palm Beach Road in the Central Business District (CBD) of Belapur, the luxury housing apartments are designed by renowned architect Hafeez Contractor, a prominent architect. Hafeez Contractor-designed flats on Palm Beach Road offered at a bargain to state officials As per CIDCO officials, Maha Nivas is set to have around 350 flat–3 BHK (bedroom, hall, kitchen) units of priced at ₹2.45 crore and 4 BHK units of priced at ₹3.47 crore. The flats are being offered at ₹19,500 per nearly half the current market rate of ₹30,000–60,000 per in the area. Already around 550 applications have been registered by the state's MPs, MLAs, MLCs, judges of the Supreme Court and high court, and senior IAS and IPS officers. Applicants had to pay a mandatory ₹1 lakh registration fee to reserve their spots. As per CIDCO, the flats will be allotted through a lottery basis, and buyers are barred from selling their flats for three years after the allotment. Palm Beach Road is among Navi Mumbai's most posh areas, known for its high-rise towers, mangrove-lined stretches, and panoramic views. Strategically located at Plot No. 20, Sector 15A, opposite the Navi Mumbai Municipal Corporation (NMMC) headquarters and near the upcoming Navi Mumbai International Airport (NMIA), Maha Nivas will also offer seamless connectivity for senior officials who travel frequently between administrative hubs. The construction tender issued this week covers the project's complete execution over a 42-month period. The tender includes the cost of setting up operational electrical and plumbing systems, fire safety installations, and environmental compliance. The gated complex will offer a range of amenities including landscaped pathways, green forest zones, driveways, a swimming pool, a mini-auditorium, an amphitheatre, games courts, walking and cycling tracks, and a clubhouse. Highlighting the rationale behind the scheme, CIDCO vice chairman and managing director Vijay Singhal said, 'The project has been designed to optimize available floor space index (FSI) and deliver high-quality housing within a compact footprint.' He added that prime land in the area is limited, and there is a high demand for housing among senior government officials. As per Singhal, the scheme aligns with the government's 'Housing for All' agenda and similar initiatives have been taken in other states too. 'This is not for any preferred individual but for a defined category, and the pricing is based strictly on cost parameters,' Singhal said. Earlier, CIDCO had appointed Tata Consulting Engineers and Hiten Sethi & Associates as joint Project Management Consultants (PMC) at a cost of ₹28 crore. The corporation also had a ₹15 crore contract for the architectural design. However, housing activists and developers criticised the appointments questioning why CIDCO needed external consultants given the corporation's experience in executing housing projects. Manohar Shroff, senior vice president of the Maharashtra Chamber of Housing Industry Confederation of Real Estate Developers' Associations of India (MCHI-CREDAI) Navi Mumbai, said that the scheme reflects a troubling shift toward 'exclusivist' planning. 'This is a government-backed housing project on prime public land, yet it excludes the general public entirely.' He added that usually developers get plots at very high costs and face legal hurdles. 'Here, flats are being offered on a platter to VIPs at half the market rate in a high-demand area,' said Shroff.
Hindustan Times
11-07-2025
- Business
- Hindustan Times
CIDCO to convert residential leasehold plots to freehold, offering major relief to property owners
In a major relief for homeowners in Navi Mumbai, near Mumbai, the City and Industrial Development Corporation (CIDCO) has announced that residential plots allotted on a leasehold basis will now be eligible for conversion to freehold. In a major relief for homeowners in Navi Mumbai, near Mumbai, the City and Industrial Development Corporation (CIDCO) has announced that residential plots allotted on a leasehold basis will now be eligible for conversion to freehold. (Picture for representational purposes only)(Bachchan Kumar/HT Photo) The CIDCO said that in order to facilitate this process, it has constituted a committee tasked with scrutinising applications received for such conversions. The special planning authority, CIDCO has urged citizens to take advantage of this scheme to secure full ownership rights over their residential plots. "The scheme will cover residential plots allotted through the tender process, CIDCO-constructed housing projects, as well as plots allotted under the 12.5% and 22.5% schemes," CIDCO said in a statement. According to the statement, eligible plot owners can apply for conversion by submitting the required documents and paying the prescribed conversion fees. Also Read: CIDCO cancels allotment of 16 Navi Mumbai plots worth ₹2,000 crore: 5 key reasons The conversion fee is charged basis the ready reckoner rate of the particular land and only a certain percentage of the ready reckoner rate is charged in exchange of conversion, CIDCO officials said. However, in cases where recovery of unearned income is stipulated in the lease agreement, such amounts will also be recovered along with the conversion fees. Additionally, for plots allotted at concessional or subsidized rates, other applicable charges will be levied besides the conversion fees, the CIDCO said in a statement. Also Read: CIDCO auction: Godrej Properties acquires 6.54 acres in Navi Mumbai for ₹717 crore on a 60-year lease According to the statement, the scheme is optional and applies only to plots where lease deeds have already been executed. Once a plot's status is converted to freehold, CIDCO will not levy transfer charges for future property transfers. Further, the Department of Land Records, Government of Maharashtra, will maintain and update the records of rights for these freehold plots, the CIDCO statement reads. Also Read: Housing sales volume of Tier 1 real estate developers dips by 6% in FY25: Ind-Ra The CIDCO has planned and developed 14 nodes in Navi Mumbai—such as Airoli, Vashi, Nerul, Belapur, Kharghar, Kamothe, New Panvel, Ulwe, Dronagiri, etc.—and land parcels in these nodes were originally allotted on leasehold basis.
Time of India
10-07-2025
- Business
- Time of India
CIDCO to allow conversion of residential leasehold plots to freehold; forms committee
In a significant move aimed at providing greater ownership rights to property holders, the Maharashtra government has approved the conversion of residential plots allotted by the City and Industrial Development Corporation ( CIDCO ) from leasehold to freehold. The decision is expected to impact plot owners across Navi Mumbai and other CIDCO-developed areas. To ensure smooth execution of the directive, CIDCO has constituted a dedicated committee that will oversee and scrutinize the applications received for such conversions. The scheme applies to residential plots allotted through the tender process, CIDCO-constructed housing projects, and plots allotted under the 12.5% and 22.5% land allotment schemes. According to CIDCO, eligible plot owners must submit an application and pay the prescribed conversion fees in order to initiate the process. Once approved, the leasehold title will be converted into freehold, offering full ownership rights and making future transfers and financing of the property significantly easier. 'In cases where unearned income recovery is stipulated in the original agreement, that amount will also be recovered alongside the conversion fees,' CIDCO said in a statement. 'For plots allotted at concessional or subsidized rates, additional applicable charges will be levied over and above the standard conversion fee.' The scheme is optional and applies only to plots where a formal lease deed has been executed. Crucially, CIDCO has clarified that once the leasehold plot is converted into freehold, no transfer charges will be levied on subsequent property transactions—a move that is expected to encourage wider adoption of the scheme among homeowners. Industry experts suggest this conversion could also ease the property registration and inheritance process, while offering more flexibility for redevelopment or resale. Freehold status removes a layer of bureaucratic oversight and gives complete title to the owner. After the conversion, responsibility for maintaining and updating the land title records will shift to the Department of Land Records under the Government of Maharashtra, further integrating these plots into the state's mainstream property record system. This marks a major policy shift in land administration for CIDCO, which has so far maintained leasehold control over most of its residential plots since its inception.
Hindustan Times
05-07-2025
- Politics
- Hindustan Times
HC orders demolition of illegal 5-building complex in Uran, SC grants interim stay
Mumbai: Observing that there was 'overwhelming evidence of material suppression, misleading actions, and apparent collusion' between property developers in Uran and officers of the City and Industrial Development Corporation (Cidco), the Bombay high court recently ordered the Navi Mumbai planning authority to demolish an illegally constructed complex of five buildings in the Chanje village in Uran taluka in four weeks. HC orders demolition of illegal 5-building complex in Uran, SC grants interim stay The village, about 15 minutes away from the Jawaharlal Nehru Port Authority, has had improved connectivity with Mumbai since the inauguration of the Mumbai Trans Harbour Link, otherwise known as Atal Setu, last year. 'We find this to be yet another case where the authorities have been complicit in promoting and tolerating illegal and unauthorised constructions, despite being consistently alerted through written complaints from citizens,' a division bench of justices AS Gadkari and Kamal Khata observed in their June 20 order. However, the respondents in the case—land owner Vivek Deshmukh and the developer, Vinayak Developers—approached the Supreme Court, which on June 27 granted an interim stay on the high court's order until it hears the case further. 'We make it clear that no eviction operation shall be carried out without the leave of this court,' the apex court said. The petition was filed in the high court by Uran residents Meenanath Patil and Vijay Jadhav, who contended that the developers had started construction on the plot in 2013 after obtaining a no-objection certificate (NOC) from the Chanje gram panchayat, while being well aware that they could not have built on the land without Cidco's approval. In December 2013, the petitioners filed three complaints against the allegedly illegal construction before the Chanaje gram panchayat, stating that the construction obstructed access to their homes and a water well. These were followed by complaints to the Uran panchayat samiti and Raigad district collector. In 2014, Cidco inspected the site of the allegedly illegal construction and issued a notice to the developer for the removal of the unauthorised construction under sections of the Maharashtra Regional and Town Planning (MRTP) Act, 1966. In January 2016, the planning authority also filed an FIR against the developers for the unauthorised construction. The petitioners' lawyer, Abhinandan Vagyani, told the court that Cidco also issued a similar notice to the developer in September 2024. 'By this time, an entire complex of five buildings had already been constructed illegally…' Vagyani said, adding that the notice was a mere formality. 'This is a classic case where the authorities have not just neglected their statutory obligations but have, by their conduct, actively permitted the perpetuation of illegal constructions…,' he told the court. Cidco's lawyer then drew the court's attention to an affidavit filed by its Controller of Unauthorized Constructions department, which stated that the planning authority had inspected the site in August 2024. 'Cidco officials found residents occupying illegally and unauthorisedly constructed buildings,' the affidavit said. A month later, the residents were issued notices under the MRTP Act, the lawyer said. The court was also informed that the regularisation application filed by the developers was rejected by Cidco on January 27 this year. The high court, however, said that Cidco had 'not only exhibited a deliberate inaction but has also taken superficial steps, further encouraging illegal constructions.' The judges said, 'By its conduct, Cidco has not only fostered unauthorised structures but has also jeopardised the interest of innocent flat purchasers who, despite investing their hard-earned money, have become victims of these illegal developments'. The court, however, added, 'These purchasers, who failed to exercise due diligence by conducting proper title searches and obtaining sanctioned plans, cannot be entirely absolved of their imprudence. Their recourse, if any, lies against the developer.' The court also ordered the authorities, including the Maharashtra government and Cidco, to take action against 'all concerned officers who have permitted the continuance of illegal construction since 2014 and take appropriate action against not only the officers of Cidco but also against the concerned developers…'. The high court also set aside an order of the civil judge, junior division, Uran, who had ordered a status quo in the case in December 2024.
