Pune: Ownership rights for 20 housing societies located on government land in Pune district have been converted, enabling them to conduct transactions like redevelopment and property sales without government approval.

This decision follows a state government initiative to streamline ownership transfers by inviting applications and charging a prescribed fee.

These societies, established on lands allocated by the state government since 1966, initially operated under occupancy rights. Despite paying the required fees, ownership of these lands remained with the government.

Residents often faced hurdles in securing district collector approval for redevelopment projects or property transactions.

In response to long-standing demands, the government allowed housing societies to acquire ownership by paying 15% of the current market value, as determined by the ready reckoner rate.

This policy eliminates the need for collector approval, simplifying redevelopment and property transactions.

The process has benefited 20 societies across Pune district, including 16 in Pune city, 2 in Baramati, and 1 each in Maval and Haveli talukas. These societies successfully completed the application and payment process within the government’s stipulated timeline.

Statewide, there are around 22,000 cooperative housing societies under leasehold or occupancy rights, with approximately 1,800 on leasehold terms.

A government notification provides a framework for ownership conversion, requiring individual landholders to pay 25% and cooperative housing societies 15% of the ready reckoner value.