Navi Mumbai: CIDCO Raises Rs. 422 Crores at the Auction of 13 Premium Plots

The auction of 13 plots in Kharghar, Kalamboli, Pushpak Nagar, Panvel, and New Panvel, the City and Industrial Development Corporation (CIDCO) has generated almost Rs 422 crores. CIDCO had initially proposed 48 plots in all, including commercial spaces.

The available plots are approved for residential and residential-cum-commercial use, with 1.1 FSI to 2 FSI of allowable development. The base costs per square meter for these plots ranged from Rs 90,000 to Rs 3 lakh.

Eight of the thirteen plots that were put up for bids are in Pushpak Nagar and Kharghar. The well-established node of Kharghar is home to the ISKCON temple, a golf facility, future Metro Rail, and other educational institutions.

A successful auction was also held for four residential-commercial plots with 2 FSI in Pushpak Nagar, which is still under development. The remaining plots are located in Panvel, New Panvel, and Kalamboli.

Source: Lokmat Times

Leave a Reply

Your email address will not be published. Required fields are marked *