India, July 11 -- In a major relief for homeowners in Navi Mumbai, near Mumbai, the City and Industrial Development Corporation (CIDCO) has announced that residential plots allotted on a leasehold basis will now be eligible for conversion to freehold.

The CIDCO said that in order to facilitate this process, it has constituted a committee tasked with scrutinising applications received for such conversions.

The special planning authority, CIDCO has urged citizens to take advantage of this scheme to secure full ownership rights over their residential plots.

"The scheme will cover residential plots allotted through the tender process, CIDCO-constructed housing projects, as well as plots allotted under the 12.5% and 22.5% schemes," CIDCO sa...