The Devendra Fadnavis-led Maharashtra Government recently took multiple decisions and allowing conversion of all collector’s land to freehold is major among all. This conversion is applicable on all including residential and for non-residential purposes across the State. The premium for this conversion will also be lower in comparison to what was proposed earlier.
Eknath Khadse, the former revenue minister proposed conversion and it took three years to formulate the same. The State Government is yet to disclose details on premium.
As per the sources, the state cabinet is likely to sanction a premium of 10% of the Ready Reckoner rate for purchasing land at market value. Similarly, 15% is estimated to offer plots at a concessional rate while a premium of 50% can be rated under non-residential purposes.
Earlier, the premium was proposed at 25% of the Ready Reckoner rate and the cabinet is said to lower the same. Nearly 3,000 residential societies are built upon collector’s land in Mumbai and the number is 22,000 for the same all over the State.
In January 2019, the Devendra Fadnavis-led Maharashtra Government planned amendment of the new development control rules to boost self-redevelopment in the State. Under the self-redevelopment model, the flat owners in the societies will be allowed to redevelop or renovate their dwelling units on their own this means that they need not take help of the developer/builder to renovate their units.
The Government also sanctioned implementation of the seventh pay commission for all teachers of Government and private colleges. Early, 26,000 teachers will be at advantage from this sanction and the State Government will incur a cost of Rs. 2,100 crore.