Navi Mumbai CIDCO Transfer Guide 2025

NOTE: CIDCO Transfer charges have not been cancelled, as is widely believed.
Infect CIDCO Transfer Charges have increased by 10% since 1st April 2025.
Here is a copy of the board resolution of CIDCO stating the same...

CIDCO Board Resolution 2025

Navigating the CIDCO transfer process can be complex. Here's a simplified explanation to help you understand the key aspects.

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## CIDCO Property Transfers: A Realistic Guide

The official CIDCO timeline for property transfers is 20 days, but the reality is often 1-2 months due to bureaucratic challenges and reported corruption within CIDCO offices.

**Transfer Charges:**

CIDCO updates transfer charges annually (usually around April 1st). These charges are based on carpet area and location. Expect a 10% yearly increase for flats larger than 30 sq m and 5% for smaller flats.

**Corruption Concerns:**

Widespread corruption allegations persist, affecting processing times and potentially requiring additional payments. Complaints are often dismissed or ignored.

**GST on NOCs:**

Since December 5th, 2017, CIDCO has added an 18% GST on all NOCs (No Objection Certificates), significantly increasing transfer costs.

**Conveyance Deed:**

Even without a conveyance deed for your society, it's advisable to prepare all necessary documents for the CIDCO transfer to avoid delays if the conveyance is completed later.

**Required Documents:**

A copy of your purchase/sale agreement is the primary document needed to initiate the transfer process.

**2024-2025 Transfer Charges:**

Applications submitted before April 1st, 2023, are subject to the old rates. New rates apply to applications submitted after this date.

**Important Note:**

Society upload activity in CIDCO is currently halted due to the termination of a private agency. Expect at least another month of delay before this service resumes.

Latest CIDCO Transfer Rates for Navi Mumbai 2025

OTHER TYPES OF TRANSFER CHARGES

Type of TransferChargesVia Gift Deed to blood relation (without monetary consideration) Rs 5950

Via Hiership Certificate/Succession Certificate issued by court Rs 595

Mortgage NOC Rs 595

RATE CHART FOR OUR SERVICES

SERVICE	CHARGES
CIDCO Transfer only	15,000
Mortgage NOC only	15,000
CIDCO Transfer + Mortgage NOC	20,000
Only Drafting/Documentation	5,000
Drafting and Registration of Sale Agreement/Sale Deed	10,000
Brokerage (Purchase/Sale transaction)	2%
Brokerage (Rentals)	1 month rent/year
Consultation over Phone/Whatsapp/Zoom/Google Meet	4,000/30 mins
Property Tax Name Transfer	10,000
Water Bill Name Transfer	10,000

CONTACT SKY PROPERTIES FOR ALL YOUR CIDCO TRANSFER REQUIREMENTS

9987452642

Banks face huge defaults as Real Estate sector faces meltdown

With sales refusing to pickup and the economy in dire straits, its no secret that the real estate sector is in a severe recession. Not only have new projects failed to find any takers, even the old ones are struggling to survive. That the builders are in a severe mess is evident by the ongoing public outcry, court cases, media coverage, street demonstrations etc..but the chain reaction has also started to hit the banks which have lent money to this sector.

Recent figures of sales in the top eight cities shows that home sales increased only 6% in the past 1 year.

Infact,the home sales in the largest real estate market of India,the NCR,fell by 10% from a year ago.

New residential launches in Mumbai had dipped by 36%, In Bengaluru by 27% and in NCR by 20% in 2015.

If this scary and precarious situation continues, it may well lead to defaults by the real estate companies, to whom banks have an exposure of 1/5 of their total assets.

If the prices go down further, the banks will be left holding mortgages which are much more than the security that the banks are holding against these loans.
If that happens, the possibility of a default increases many fold.

A clear indicator of the health of the real estate sector is the recent auction of Kingfisher house for 150cr.The same has been re-priced at 135 cr as no buyers came forward at 150 cr.

The total amount outstanding to the real estate sector is 7.58 lakh crore.
Even if one major company goes bust, it may well take down the entire sector with it.

The banking system is already facing severe pressure with NPAs of PSU banks approaching 10 lakh crores.

Dangerous days ahead.