The Maharashtra town Planning Authority, City and Industrial Development Corporation (CIDCO), has begun geotagging of plots in Navi Mumbai as part of its various sales plans.
This decision will help buyers, and also a step towards the efficient digitization of land records in the scattered southeastern suburbs of India’s commercial capital. Thus, Navi Mumbai became one of the first major cities in the country to begin the process of digitizing cadastral registers, given the uncertainty of ownership and property rights. Most of the lands in India are the subject of legal disputes and might take a century for courts to resolve these cases.
Sanjay Mukherjee, VC & MD, CIDCO, said. “Land parcels geotagging helps to create a transparent mechanism and provide applicants with accurate location information and other related factors”. “By having the correct links to the database, which will be updated real-time. Also the potential for inaccuracies and deceptive information can be avoided.”
Eliminates Unauthorized Construction–
According to a report by McKinsey India, developers are also having trouble obtaining financial assistance. As they cannot offer land without a clear title as collateral for loans. Therefore, most new housing units are built on land already owned by developers or an insider who knows how to speed up the bureaucratic process of verifying ownership.
Ashok Chhajer, CMD, Arihant Superstructures said. “Land Geotagging helps in resolving several problems, including illegal construction on land, which can be tracked and stopped even before completion.” ‘Even the Panvel municipal corporation started working on it, using drones and making a map of the land parcels. It will also attract more investment from various financial institutions, including global organizations as well.”
Optimization of this process and revision of the law on land ownership should stimulate competition in construction. Competitive developers expected to increase their productivity and offer lower house prices. This also helps India’s stagnant construction market to expand significantly.
Payment Deadline Extended–
CIDCO regularly sold residential and used land under various schemes. These areas will be demarcated and fenced. Similarly, each plot will have a panel showing details such as plot area, number, node, and a barcode as well. The panel will help buyers know the exact location, boundaries, and area of the land they choose.
The Town Planning Authority sold land in accordance with the provisions of the Navi Mumbai Land Disposal (Amendment) Regulations 2008. In addition, CIDCO also decided to extend the payment deadline to three months for the first installment and 10 months for the second installment in worthy cases. This extension only applies to buyers in verified cases, together with late payment charges. 2008 Navi Mumbai Land Disposal (Amendment) Regulations have a clause to revoke the land transferred to the applicant if the tenderer is unable to pay the fee, even after renewal.