'Builder' couple cheats home buyers in Turbhe

In another instance of cheating, a builder couple named Rafiq Solanki (50 yrs) and his wife Mehrunissa Solanki (45 yrs ) have absconded after taking 8-10 lakhs from flat buyers who were promised flats in a 7 storied building that the couple promised to construct in Sector 22 of Turbhe Village. The couple is alleged to have purchased a plot from a Project Affected Person (PAP) in sector 22 (Turbhe) and started construction in 2010. They showed a forged CC (Commencement Certificate) to buyers and accepted booking amounts ranging from 8 to 10 lakhs for flats in a 7 storied building, but when the final structure was completed, it had only 4 floors. The people who had booked flats from the 5th to the 7th floor were left high and dry. Finally on 2nd July, seven of them lodged FIRs at the Turbhe Police station under section 465,468,471,420 etc. It may help to point out that most buildings constructed in Gaothan areas are illegal and the High Court has issued orders for their demolition.

Illegal building being demolished in Seawoods, Nerul

The Maharashtra state govt has decided to formulate a blanket Amnesty scheme for all illegal structures in Maharashtra that were constructed before 2015. But that policy has yet to be formulated. Besides that, the policy will have to be submitted to the High Court for approval and only then will it be implemented. Also, it is sure to be challenged in the Supreme Court for validity. So the chance of that policy succeeding is slim.

It may help to point out that just Digha alone has more than 100 illegal buildings constructed on MIDC land. Each of these buildings have flats which were sold cheap to buyers by local officials, corporators etc, in violation of all rules, thereby minting 100s of crores in the process. 3 NCP Corporators have already lost their positions and have been barred from the Municipal Corporation by the no nonsense Municipal Commissioner of Navi Mumbai Tukaram Munde who assumed charge just 3 months ago.

An online list of Commencement Certificates (CC) is also available at the NMMC Website, where buyers can check the validity of all documents of any project. Some projects may not be listed on the website and may require personal verification from the Town Planning office located on the 3rd floor of the new NMMC headquarters at Nerul. NMMC has also instructed the Registrars office not to register any sale agreement without a Commencement Certificate but to no avail.

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Sky Properties, Nerul, Navi Mumbai

Address A-1, 7,2, Sneh Co Op Society, Plot no 16, Sector 19a, Nerul, Navi Mumbai 400706
Call Us 9987452642
mayur@navimumbaiestate.in

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.

-------------------------------------
## 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.

Panvel builder arrested for cheating buyers

A panvel builder, Narendra Mehta (alias Raj Mehta) and his son, Raunak Mehta 23 yrs old, have been arrested and remanded in police custody till february 27.Narendra Mehta is accused of cheating 200 investors of 5 crores by promising them plots in Panvel. The builder allegedly took buyers to the site and told them that he was the owner of the plot. It turned out that the farmer had only received 60 lakhs and that the plot was still under his ownership.
Despite recent scams, buyers continue to trust builders blindly and lose their hard earned  money in the process.

2200 builders refuse to pay VAT

Many builders have ignored the Govt deadline to register and pay VAT before the October 31,2012 deadline despite Supreme Court rap.About 5257 builders registered themselves to pay VAT for the sales between June 20,2006 to March 31,2010 with the Sales Tax Dept.However,approx 2200 builders from Pune have not paid VAT.Most have showed nil returns.Most builders ask buyers to pay up for their VAT liabilities but social activists say that VAT payment is the responsibility of the person registered with the sales tax dept.A public interest litigation has been filed to prevent builders from extorting VAT from buyers.It will come up for admission on March 8.Builders say that they are entitled to collect VAT from buyers as the sales tax dept has supported their stand of issuing a debit note to flat buyers for the same.

This will be the second time that the dept will raid builders to recover VAT.Many thought that govt will reduce their tax liability hence they did not pay it,though they may have collected it from flat buyers.

It is amazing,that after months of confusion and court battles the govt is yet to specify whether flat buyers are liable for VAT or not.Just one more proof of how the flat buyer is left to fend for himself while builders display their normal high handedness.