CIDCO’s revenue collection is likely to fall by approximately Rs 243 crore once the state cabinet gives its decision. This comes after the CIDCO board on Monday advised to do away completely with the transfer charges (ranging from Rs 25,000 to Rs 10 lakh excluding 18 per cent GST) on every resale of property across the state where CIDCO is the town planning authority.

The board has also consented to convert all ‘leasehold land’ to ‘freehold land’ by making a nominal payment to CIDCO, which could benefit future redevelopments and self-redevelopment of dilapidated structures. mid-day had in its reported ‘Voices against transfer premium charges grow in Navi Mumbai’ dated September 20, highlighted how various citizen associations have started a people's movement in Navi Mumbai to put pressure on CIDCO to end this additional “financial burden on resale property buyers”. Political leaders from various parties have also extended their support to public demand.