The allotment will be on leasehold basis for 90 years, CIDCO said in a release.
The City and Industrial Development Corporation (CIDCO) has approved the transfer of land at Digha village, spanning 919 square metres (sqm), to the Mumbai Rail Vikas Corporation (MRVC) for development of the Airoli-Kalwa elevated corridor. The decision was taken following MRVC’s 2018 request for transfer and possession of the land.
The allotment will be on leasehold basis for 90 years, CIDCO said in a release. The lease premium payable for the land at the rate of Rs 22,500 per sqm is Rs 2,06,77,500, along with miscellaneous charges and an annual lease rent for the project.
“The decision regarding allotment of land for this project was taken in public interest. The development of this project will reduce pressure on Thane railway station and travellers from Kalyan will be able to travel conveniently,” said Dr Sanjay Mukherjee, VC and MD at CIDCO.
The MRVC is a public sector undertaking that comes under the Union Ministry of Railways.
Although as per the Navi Mumbai Disposal of Lands (Amendment) Regulations, the CIDCO shall dispose of plots by inviting public tenders or by public auction, the Central government or the state government, and their undertakings, local bodies or any government autonomous bodies, are exceptions and land can be disposed of to them by considering individual applications at specified rate of lease premium.
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