Imtiaz Jaleel : Free hold instead of lease hold of CIDCO property

Insight Online News

Aurangabad, Jan 12 : Aurangabad AIMIM MP Imtiaz Jaleel has urged CIDCO’s Vice President and Managing Director and Chief Administrator of CIDCO, Aurangabad, to take immediate action to freehold the leased hold properties of the CIDCO project as there are several problems in the development of their properties, it was reported on Wednesday.

In his letter on Tuesday to Vice president of CIDCO Mr Jaleel stated that, last year, Chief Minister Uddhav Thackeray had announced a free hold instead of a lease hold on the CIDCO property, and Guardian Minister Subhash Desai had promised that it would happen soon, but no action has been taken so far, he said.

Leasehold land holders of CIDCO project in Aurangabad city face difficulties in availing bank loans, reduction of TDR, reduction of premium charges in respect of 0.1 FSI in respect of properties in CIDCO area due to base FSI 1.1.

100 per cent premium is levied on properties on 20 per cent and 20 meter roads. The premium fee should be 35 per cent like that of the corporation, he said.

In case of free hold of CIDCO project property is allowed instead of lease hold, the owners of the properties will not have to pay back the transfer fee after levying a lump sum fee as per the decision of CIDCO Board of Directors, he pointed out.

Also, CIDCO no-objection certificate will not be required for bank loans, and the premium charges for FSI in respect of assets will be the same as for the corporation.

For this, however, the approval policy will have to be amended as per the earlier decision of CIDCO’s Board of Directors.

Also, if TDR can be loaded, it will help to build housing stock, added Mr Jaleel.


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