Pune: Dhankawadi’s Panchavati Society Becomes First to Secure Freehold Status Under Maharashtra’s Land Conversion Policy
In a landmark development, Shri Dnyaneshwar Cooperative Housing Society, popularly known as Panchavati Society in Dhankawadi, has become the first housing society in Pune to secure freehold status under Maharashtra’s land status conversion policy. This move comes a year after the state government extended the deadline for converting leasehold and occupancy (class 2) land to freehold (class 1) land until December 31, 2025.
Previously, flat owners on leasehold or occupancy land had to seek permission from the collector’s office before selling their properties, often incurring additional government fees. The new policy, notified on March 4, allows such lands to be converted to freehold by paying a premium of up to 25% of the ready reckoner (RR) rate. Freehold status grants full ownership rights, enabling easier conveyance deeds, hassle-free property sales, and redevelopment opportunities without legal hurdles.
Constructed in 2007-08 with around 400 members, Panchavati Society initiated the conversion process six years ago and paid approximately ₹1.5 crore as a premium. Society chairman Vikram Naiknimbalkar and secretary Pradeep Kadam highlighted the challenges, including convincing members to contribute financially. Some retired members even broke their fixed deposits to support the process.
Minister of State for Urban Development Madhuri Misal, who has long advocated for the policy, emphasized its benefits for flood-affected residents in areas like Sahakarnagar, enabling property redevelopment. Housing Federation president Suhas Patwardhan noted that the scheme benefits both the government and residents, providing revenue for the state and redevelopment rights for societies.
Despite the advantages, challenges remain. Gathering decades-old documents and convincing members to contribute premiums are significant hurdles, especially in larger societies. Pune District Residential Deputy Collector Jyoti Kadam confirmed that the scheme, active since 2018, is gaining traction among Pune residents.
