Dhankawadi’s Panchavati Society Becomes Pune’s First to Attain Freehold Status Under Maharashtra’s Land Conversion Policy
Dhankawadi’s Panchavati Society Becomes Pune’s First to Attain Freehold Status Under Maharashtra’s Conversion Policy
Pune’s Shri Dnyaneshwar Cooperative Housing Society, popularly known as Panchavati Society in Dhankawadi, has made history as the first housing society in the city to secure freehold status under Maharashtra’s revised land conversion policy. This landmark transition follows the state government’s decision to extend the deadline for converting leasehold and occupancy (class 2) land to freehold (class 1).
Previously, residents of leasehold or occupancy land had to obtain government approval before selling their properties, often paying additional charges to the government. The new policy, which extends the application deadline until December 31, 2025, simplifies the process. Under this provision, societies can gain full ownership rights by paying up to 25% of the land’s ready reckoner (RR) rate as a premium as per reported by Hindustan Times.
Established in 2007-08, Shri Dnyaneshwar Cooperative Housing Society, with around 400 members, had been working towards this transition for six years. The society finally secured freehold status in 2024 after paying approximately ₹1.5 crore. Society chairman Vikram Naiknimbalkar and secretary Pradeep Kadam highlighted the challenges they faced in convincing members and navigating bureaucratic hurdles.
Another housing society official, Ram Khutwad, noted that their society had 457 members and was among Pune’s largest to complete this process independently. They raised ₹5 crore collectively, with some retirees even breaking fixed deposits to contribute. Minister of State for Urban Development Madhuri Misal played a key role in facilitating discussions with the state government.
Misal emphasized the policy’s significance, particularly for societies on government-allotted land, enabling them to redevelop their properties. Suhas Patwardhan, president of the Housing Federation, pointed out that this scheme benefits both residents and the government by providing ownership rights while generating revenue for the state.
Pune District Residential Deputy Collector Jyoti Kadam confirmed growing interest in the scheme since its introduction in 2018. However, implementation challenges remain, as many societies struggle to locate old documents and convince members to contribute financially.
The successful transition of Panchavati Society serves as a model for other societies seeking full ownership, marking a milestone in Pune’s urban housing landscape.
