February 20, 2024: CREDAI-MCHI, in partnership with Cidco, organised a workshop on Amnesty Scheme for Maveja and ALP to tackle issues faced by stakeholders in Navi Mumbai. This collaborative effort has resulted in policy changes aimed at alleviating stress and fostering sustainable development in the region.
CREDAI-MCHI proactively engaged with the Maharashtra government to form a committee chaired by ex-chief secretary Maharashtra government, Sanjay Kumar (Retd. IAS), to address these challenges.
The five key points of contention identified are:
- Maveja on 12.5% plots
- additional lease premium on all plots
- high rates of ALP going up to 115% for plots whose construction is delayed
- huge Mortgage NOC cost for marketing plots in Cidco jurisdiction to banks for construction finance
- delay in Infrastructure causing rise in ALP
After thorough deliberation, the Maharashtra government accepted all recommendations of the committee, except for ALP for all plots. Furthermore, Cidco was directed to adopt a new formula, aligning with changes in the Land Acquisition Act, for calculating Maveja going forward.
Building upon these efforts, Maharashtra chief minister Eknath Shinde, instructed Cidco to expedite the issuance of pending occupancy certificates, conveyance and society formation NOCs for ready constructed buildings in Navi Mumbai. Additionally, the introduction of the Abhay Yojana by Cidco will facilitate the transfer of flats by delinking them from surplus amount recovery under Cidco.
In a significant decision, the government has separated the recovery of Maveja/ALP from the issuance of occupancy certificates, conveyance NOCs, or transfer of flats. Projects facing construction delays have been granted a 50% amnesty on payable amounts of Maveja and ALP until March 31, 2023, under the Abhay Yojana.
Domnic Romell, president of CREDAI-MCHI, said, “This collaborative effort underscores our commitment to addressing the concerns of stakeholders in Navi Mumbai, ensuring a conducive environment for all. The policy changes signify a significant milestone in resolving longstanding issues and promoting sustainable development.”
Furthermore, a policy decision has been made regarding the revision of the Maveja calculation method, demonstrating the government’s dedication to mitigating financial hardships faced by citizens and farmers.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
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