On the launching of the recent online lottery, CM of Maharashtra Eknath Shinde Deputy Chief Minister Devendra Fadnavis announced the government’s plans, which offer affordable homes for the common people under the Maharashtra Housing and Area Development Authority (MHADA), the City and Industrial Development Corporation of Maharashtra (CIDCO). Furthermore, as per reports, around 5,211 lottery-drawn houses and 3,000 homes are ready to be distributed in the forthcoming months. Thus, 278 flats while 2,875 flats would be served on a first-come, first-served basis. The remaining 2,088 flats would fall under the 20% housing scheme. Therefore, Propertywala shares every detail of the online lottery in 2022.
Launching of Housing Online Lottery by state:
The online lottery began on August 18, 2022, at 10 am in Pune’s Zilla Parishad hall, at the Maharashtra legislative assembly. MHADA has fixed lots for lottery houses in Pune, Pimpri-Chinchwad, Solapur and Kolhapur districts.
Many dignitaries were present at this program. Milind Mhaiskar, Secretary of the housing department and Anil Diggikar MHADA vice president also attended this programme for housing. As per the reports, this year, Maharashtra Housing Development Authority (MHADA) has drawn three big draws. It includes MHADA lottery Pune 2022, Pune First Come First Serve lottery 2022, and Kolhapur MHADA lottery 2022. The MHADA lottery Pune 2022 is the biggest online draw this year.
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.
Piramal Sunteck Realty purchased two plots in Navi Mumbai for more than thirty-one crore rupees. In all five plots, measuring around eleven thousand square meter were put on the block by the City and Industrial Development Corporation (Cidco) for a total cost of eighty crore rupees.
Piramal Sunteck had put in a bid for all five plots. The bids for the other three plots were bagged by Millennium Enterprise, Atul Aggarwal & Sons and Prajapati Constructions. It is learnt that the Piramal-Sunteck group plans to develop its two plots for residential and commercial purposes. Residential development will account for 75%.
Cidco had invited bids for these plots around one month back. These plots are located in Airoli with a size ranging from fifteen hundred square meters to thirty-five hundred square meters. The successful completion of these bids comes not too long after the bid for Finlay Mill was scrapped. NTC is learnt to be looking for higher valuations as compared to the bid for Rs 710 crore by Lodha Developers.