Credai-MCHI holds workshop on CIDCO amnesty scheme for Maveja and ALP | Mumbai news - Hindustan Times
close_game
close_game

Credai-MCHI holds workshop on CIDCO amnesty scheme for Maveja and ALP

Feb 20, 2024 09:35 PM IST

Projects facing construction delays have been granted a 50% amnesty on payable amounts of Maveja and ALP until March 31, 2023, under the Abhay Yojana

CREDAI-MCHI and CIDCO jointly organize meet to address issues

Credai-MCHI holds workshop on CIDCO amnesty scheme for Maveja and ALP
Credai-MCHI holds workshop on CIDCO amnesty scheme for Maveja and ALP

NAVI MUMBAI

HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!

CREDAI-MCHI, in partnership with CIDCO, on Tuesday, organized a workshop on CIDCO’s amnesty scheme in Vashi for Maveja and Additional Lease Premium (ALP) to tackle pressing issues faced by stakeholders in Navi Mumbai. The collaborative effort has resulted in significant policy changes aimed at alleviating stress and fostering sustainable development in the region.

Maveja is the difference between the amount the PAPs received for their acquired land and the payment to be made for getting 12.5% plot compensation land from CIDCO. ALP is to be paid for delay in construction by the plot owner to CIDCO.

Identifying five key points of contention which are Maveja on 12.5% plots, ALP on all plots, high rates of ALP going up to 115% for plots whose construction is delayed, huge Mortgage NOC cost for marketing plots in CIDCO jurisdiction to Banks for Construction finance etc and delay in Infrastructure causing rise in ALP, CREDAI-MCHI proactively engaged with the Government of Maharashtra (GOM). This led to the formation of a committee chaired by former chief secretary of Maharashtra Government, Sanjay Kumar (Retd. IAS), to address these challenges.

After thorough deliberation, the Government of Maharashtra accepted all recommendations of the Committee, except for ALP for all plots. Furthermore, CIDCO was directed to adopt a new formula, aligning with changes in the Land Acquisition Act, for calculating Maveja going forward.

Building upon these efforts, chief minister Eknath Shinde, instructed CIDCO to expedite the issuance of pending Occupancy certificates, Conveyance, and Society formation NOCs for ready constructed buildings in Navi Mumbai. Additionally, the introduction of the Abhay Yojana by CIDCO will facilitate the transfer of flats by delinking them from surplus amount recovery under CIDCO.

In a significant decision, the government has separated the recovery of Maveja and ALP from the issuance of occupancy certificates, conveyance NOCs, or transfer of flats. Projects facing construction delays have been granted a 50% amnesty on payable amounts of Maveja and ALP until March 31, 2023, under the Abhay Yojana.

Domnic Romell, President of CREDAI-MCHI, stated, “This collaborative effort underscores our commitment to addressing the concerns of stakeholders in Navi Mumbai, ensuring a conducive environment for all. The policy changes signify a significant milestone in resolving longstanding issues and promoting sustainable development.”

Furthermore, a policy decision has been made regarding the revision of the Maveja calculation method, demonstrating the government’s dedication to mitigating financial hardships faced by citizens and farmers.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Wednesday, April 24, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On