Hey folks! Big news coming out of Pimpri Chinchwad New Town Development Authority (PCNTDA) in Maharashtra. Minister for Industries, Uday Samant, has promised residents that a decision will be made soon about the freehold status of their properties. This decision won’t cost the state government a penny, so that’s a relief!
During a recent session in Mumbai, BJP MLA Mahesh Landge raised the issue of converting 97,414 properties in the PCNTDA area to freehold. Minister Samant has assured residents that action will be taken to address their concerns.
PCNTDA was set up back in 1972 to acquire and develop land for the benefit of laborers and economically weaker sections. Fast forward to today, and property owners are facing a whole bunch of issues. They haven’t received their Building Completion Certificates, property transfer fees are sky-high, and the process of registering heirs is a headache.
To make matters worse, 95% of societies in the area don’t have convenience deeds, which is stopping them from redeveloping their properties. This has led to banks refusing to give loans to property owners. It’s a real mess!
But fear not, the Maharashtra State Government is on the case. They’re looking to provide relief to around 5 lakh PCNTDA citizens. According to MLA Landge, converting these properties to freehold won’t put a strain on PCMC, PMRDA, or the state government. In fact, it could actually increase revenue for PCMC.
So, what exactly are freehold properties? Well, they give the owner full and permanent ownership of both the land and any buildings on it. No more dealing with pesky lease agreements or paying ground rent. It’s all about security and control.
Overall, it looks like there’s light at the end of the tunnel for PCNTDA residents. Stay tuned for more updates on this developing story!
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