CIDCO, in full, City and Industrial Development Corporation of Maharashtra Ltd.
CIDCO, in full, City and Industrial Development Corporation of Maharashtra Ltd. is a government of Maharashtra undertaking town planning agency. CIDCO was taken under the Maharashtra government on 17th March 1970 and is wholly owned by the government of Maharashtra.
CIDCO which stands for City and Industrial Development Corporation of Maharashtra Ltd. is attributed with the planning and implementation of Mumbai (then Bombay) which is now one of the oldest and largest planned cities.
Objective of CIDCO
Along the lines of PMAY (Pradhan Mantri Awaas Yojna) which has the objective of providing pucca houses to all urban poor belonging to EWS (Economically Weaker Section), LIG (Low Income Group), MIG (Middle Income Group), and HIG (High Income Group) towards the end of 2022, CIDCO, expanded as, City and Industrial Development Corporation of Maharashtra Ltd. is building and providing homes to urban poor in Maharashtra belonging to EWS (Economically Backward Class), LIG (Low Income Group). CIDCO service charges are applicable to people who apply to this scheme which can be paid through CIDCO online payment.
Homes Under CIDCO Housing Scheme
The houses provided under the CIDCO scheme are distributed or allotted to people who have registered through a lottery system. The CIDCO housing scheme 2021 was recently announced and it is available for two sections of the Maharashtrian society- EWS (Economically Weaker Section), LIG (Low Income Group).
EWS (Economically Weaker Section)- People having a monthly income of or below INR 25,000.
LIG (Low Income Group)- People Having a monthly income between INR 25,000 and INR 50,000
Number of Flats, Area, and Rate
For people belonging to EWS (Economically Weaker Section), there are 53,000 flats having an area of 25.81 sq. m at the rate of INR 18 lakhs. Whereas for people belonging to LIG (Low Income Group), there are 41,000 flats having an area of 29.82 sq. m at the rate of INR 25 lakhs.
Location of houses
The houses to be allotted or sold to the eligible people under the CIDCO (City and Industrial Development Corporation of Maharashtra Ltd.) housing scheme 2021 are situated in the areas- Taloja, Bamandongri, Juinagar, Khargar, Panvel, Kharkopar, and Kalamboli.
CIDCO Property Tax
Property tax is the tax that is paid by the owner of a property to the local government or the municipal corporation. The amount to be paid by the property owner as property tax to the concerned authority is decided or calculated by the local government or the municipal corporation.
CIDCO Property Tax refers to the tax that the CIDCO property owner would have to pay to the municipality. Since the CIDCO housing scheme 2021 is proving houses in and around Navi Mumbai, the CIDCO Property Tax would be decided by the BMC (Bombay Municipal Corporation)
The CIDCO Property Tax can be calculated as-
Base Value of Property*Property Tax Rate*User Category
Base Value- the current capital value of the property
Property Tax Rate– the current property tax rate decided by the BMC
User Category– whether the property is being used for residential or commercial purposes.
Payment of CIDCO Property Tax in CIDCO Maharashtra Gov in online payment mode is now available to the taxpayer. Using the CIDCO online payment one can easily pay the CIDCO Property tax without having to go anywhere. To pay the property tax online, you can visit https cidco Maharashtra gov in online payment and proceed to make the payment.
CIDCO Service Charges
To avail of the flats provided by the CIDCO housing scheme under PMAY, one has to first register himself or herself on the official website and participate in the lottery. Whoever wins the lottery would be eligible for possession of the flat after document verification.
CIDCO (City and Industrial Development Corporation of Maharashtra Ltd.) charges a certain fee from the people who register to apply for the CIDCO flat. This fee is called CIDCO Service Charge.
The CIDCO service charge for the EWS (Economically Weaker Section) is INR 5,000 only. Whereas people belonging to the LIG (Low Income Group) have to pay a total sum of INR 25,000 as the CIDCO service charge. This fee can also be paid through the CIDCO online payment facility.