In a recent meeting held at CIDCO Bhavan between Dr. Sanjay Mukherjee, Vice Chairman & Managing Director of CIDCO informed about some major decisions taken w.r.t the relief measures announced earlier. The measures which have been evaluated by the committee will now be implemented, further aiding the meteoric growth of the region’s development process.
Some of the major changes include an extension of the period of 4 years for construction of all plots taking additional FSI under UDCPR, execution of Modified Agreement as per UDCPR, and clearance of Airport NOC issuance from CIDCO. Apart from these, letters have also been issued to MahaRERA to deregister unauthorized projects in the NAINA area, among others. In MMR, real estate continues to provide a good hedge against inflation and such measures continue to further boost the growth of the market in the region.
Speaking on the implementation of the relief measures, Dr. Sanjay Mukherjee, VC & MD, CIDCO said, “CIDCO as a progressive-minded organization is glad to announce that most of the proposed relief measures under the ‘Navi Mumbai Housing Revival Program’ have been implemented while some are still under process for approval by the state government. These measures will surely give a fillip to the real estate industry in Navi Mumbai. CIDCO has been at the forefront in acting as a catalyst for bringing an optimistic change in Navi Mumbai’s business environment.”
The major relief measures which have been implemented include extension of up to a period of 4 years for construction of all plots taking additional FSI under UDCPR, Grant of time extension up to 3 years on a single application, Universal grant of 9 months to all plots as Covid relief, The betterment charges in the NAINA area are reduced and the infrastructure contribution charges are proposed to be recovered from the last beneficiary, the end user, and not from the first owner., Instalment facility for payment of premium charges,Execution of Modified Agreement as per UDCPR, Clearance of Airport NOC issue from CIDCO’s side and Instalments in payments of infrastructure charges in the 22.5% scheme.
EODB cell has been established. Letters have been issued to MahaRERA to deregister unauthorized projects in the NAINA area. The issue of 0.1 FSI in PMC will be resolved after a dialog between PMC officials & CIDCO officials. Implementation of TDR in CIDCO plots under PMC has been approved in the last Board meeting & has been sent to GOM for approval. Plinth CC and Habitat CC will not be insisted upon by CIDCO. A proposal for the implementation of UDCPR Clauses in NAINA areas is under consideration.
