Are CIDCO Transfer Charges Abolished?
Revenue Generation: CIDCO earns hundreds of crores from these transfer charges, which are used for infrastructure development and staff salaries. Political Promises: Claims of abolishing these charges are often seen as false promises made by politicians who may not fully understand the economic implications.
Here's a detailed overview of CIDCO Transfer Charges in Navi Mumbai, including their significance, the issues of corruption, and the necessary documentation for property transactions.
CIDCO Transfer Charges Overview
Shops
Offices
Flats
Plots
Corruption Issues in CIDCO
Vigilance Department: Located on the 6th floor of CIDCO Bhavan in Belapur, it is alleged to be ineffective against corruption.
Appointment Difficulties: Unlike other municipal officials, securing an appointment with the Managing Director (MD) of CIDCO is notably challenging.
Bribery: While CIDCO officials may not engage in illegal activities for money, they often require payments for legal actions that should be straightforward.
RTI: Filing an RTI (Right to Information) request is suggested to uncover the truth, but the online RTI portal has reportedly collapsed to avoid transparency.
Transfer Charges Details
Annual Increase: Transfer charges typically increase by 10% each year.
Calculation Basis: Charges are based on the carpet area of the property and its location.
Processing Time: CIDCO claims a processing time of 20 days, but it often extends to 1-2 months due to inefficiencies.
Legal Context
Land Ownership: All land in Navi Mumbai is owned by CIDCO, which operates as a long-term landlord (60-year leases). Any transfer of property requires CIDCO's approval.
Consequences of Non-Payment:
Always verify the payment status before purchasing.
Required Documentation
GST on CIDCO Transfer
Prior to 2014, there were no additional taxes on these charges.
Legal Implications
When Are These Charges Payable?
After Registration of the Sale Agreement: This applies to a Part Payment Agreement.In Case of Full Payment: If the payment is made in one shot (without a bank loan), the charges are payable after the Sale Deed is executed.
Eligibility for CIDCO Transfer Charges
Conveyance Requirement: The society must have a Conveyance in its favor and must be listed in CIDCO records.Lack of Conveyance: More than 90% of societies do not have the necessary conveyance documented in CIDCO records, which can complicate and terminate transactions.
Conclusive Document for Society Conveyance
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Current CIDCO Transfer Charges in Navi Mumbai |
These may include:
Share Certificate copy
Society Members List
Copy of Final Order
These demands are illegal.
Absolving CIDCO of Responsibility:
Applicants are required to submit an Indemnity bond, which absolves CIDCO of any liability.Frivolous Excuses:
If your society has a Final Order, it is CIDCO's responsibility to update records.
Requesting Personal Visits:
Rejected applications result in document deletion, making it difficult to verify if the documents were uploaded.
Handling the Rejection:
If an application is rejected due to "documents not being uploaded," the only recourse is to submit a fresh application.Visit the CIDCO office promptly the next day to verify the upload status in person.
Request the official to write on the NOC that it was handed over in person because the mail server was down, along with the date, time, and signature. This is unlikely to happen.
Online Complaint Portal:
Official Time Limits for Issuing NOCs
CIDCO NOC: 21 DaysMortgage NOC: 7 Days
Societies Without Conveyance
Conveyance is Mandatory: Conveyance of land and building in the society's name is compulsory for CIDCO Transfer.Conclusive Proof:
Here's a clear overview of the CIDCO Transfer Services we offer, including the pricing and details of the services provided:
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%Rentals: 1 month rent/year
If you have any further questions or need assistance with the CIDCO Transfer Process, feel free to ask! 😊