CIDCO's conditions on homebuyers to be relaxed; prices to be lowered, says Minister Shirsat

Maharashtra Minister Sanjay Shirsat announces plans to revise conditions imposed by CIDCO on homebuyers

Mumbai, Jan 13 (PTI) Maharashtra Minister Sanjay Shirsat on January 13 announced plans to revise conditions imposed by the City and Industrial Development Corporation (CIDCO) on homebuyers to allow multiple family members to be eligible to purchase property.

Maharashtra Minister Sanjay Shirsat on January 13 announced plans to revise conditions imposed by CIDCO on homebuyers to allow multiple family members to be eligible to purchase property.(Pratik Chorge/HT PHOTO) (Representational photo)

Speaking to a regional news channel, the state minister for social justice said the current rules prevent a person from buying a property built by CIDCO if his father already owns one.

"Families are growing and expanding, and such rules should be done away with. If a person has purchased a house with CIDCO, his son should also be allowed to buy another house. The way families are expanding, these restrictions need to be relaxed," he said.

Shirsat also addressed issues surrounding the redevelopment of CIDCO buildings. "I have reviewed CIDCO buildings. I am working on relaxing as many conditions as possible. There are too many restrictions at present," he said.

The minister further said CIDCO homes should be made more affordable. "I feel CIDCO home prices should be brought down. While this may lead to some losses for the development authority, something must be done for the benefit of the people," he said.

Acknowledging variations in property rates, he said in some areas, prices of CIDCO homes seem higher than the market rate, while in other places, they are lower.