Changes in Lease Rules for Properties under Municipalities and Industrial Areas
The Cabinet has approved changes in the lease rules for properties under municipal corporations, municipalities, and industrial areas. A notification will be issued regarding new rates. The meeting was chaired by Chief Minister Devendra Fadnavis.
New rules for leasing and renewing properties under municipal corporations, municipalities, and industrial areas were finalized on November 6, 2023. Based on these rules, standard procedures will be applied to the transfer of properties across the state. The Maharashtra Municipal Corporations, Municipalities, and Industrial Areas (Real Property Transfer) (Amendment) Rules, 2025 will be drafted.
The classification of properties includes residential, educational, charitable, public, commercial, and industrial. As per the new rules, the lease rate for residential, educational, charitable, and public properties will not be less than 0.5% of the current market value (ready reckoner). Similarly, for commercial and industrial properties, the rate will not be less than 0.7% of the market value.
The valuation of properties, lease rates, and security deposits will be determined by a five-member committee under the leadership of the respective district collector. Suggestions and objections will be invited, and the final notification will be issued afterward.
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