Chapter I: Properties On The Tender Plots Allotted By CIDCO

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By Advocate S. R. Agarwal

As per the procedure being followed by CIDCO, when the allotment of a plot is confirmed to the highest bidder, initially an Allotment Letter is issued, followed by an Agreement to Lease and after the issuance of Occupancy Certificate on the completion of the construction, a Lease Deed is executed in respect of the plot as well as the demised premises. The Allotment Letter in such cases, inter alia, provides as under:-

“ Transfer or Assignment of Rights : The intending lessee can transfer or assign his rights, interests or benefits which may accrue to him from the agreement with the prior written permission of the Corporation and on payment of such transfer charges as may be prescribed by the Corporation from time to time. Such permission can however be granted only after agreed lease premium and any other amount requiredas been paid in full.

However, the intending lessee shall be permitted to sell the flats / shops / offices to his intending buyers and to obtain a lease in favour of a Co-operative Housing Society/Company / Association to be constituted of his buyers under the provision of the Section 10 of the Maharashtra Ownership Flats ( Regulation of the Promotion of Construction, Sale, Management and Transfer ) Act, 1963. ”

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