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Maharashtra: High premiums hit conversion of collector's land to freehold units
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Maharashtra: High premiums hit conversion of collector's land to freehold units
Publish on : 2021-10-12 16:23:33
Over 1,250 such plots have been given by the government to individuals and housing societies in south Mumbai, and only 19 plot holders have sought conversion to freehold. MUMBAI: The state government’s scheme to convert collector’s land to freehold land has received poor response. Since March 2019, when the scheme was introduced, only one co-operative housing society and 18 individuals have opted for it. The individuals who have opted for it are rich and can afford to pay 25% of the Ready Reckoner Rate as premium. Over 1,250 such plots have been given by the government to individuals and housing societies in south Mumbai, and only 19 plot holders have sought conversion to freehold. “There are 3,000 housing societies on ‘occupancy class II lands’, or ‘collector’s land’, across Mumbai. Yet only one co-operative housing society, in Mazgaon, has opted for the scheme,” said Salil Rameshchandra, founder president, Federation of Grantees of Government Land. The reason is not far to seek. Niranjan Hiranandani, who got his occupancy class II land on Malabar Hill converted to freehold land, put on record, “The price I am paying is more than I should have paid.

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