November 11, 2025: Kharghar has once again proven to be one of Navi Mumbai’s most coveted real estate destinations, as a City and Industrial Development Corporation (CIDCO) plot fetched an unprecedented Rs 5.06 lakh per sq. m. during a land auction held on November 5. The 41,994 sq. m. Plot No. 8 in Sector 23 received the top bid from Aakar Astron, amounting to approximately Rs 2,125 crore for CIDCO.
Located near the ISKCON Temple and Central Park, the plot enjoys a prime location surrounded by the Central Park service road and is regarded as one of Kharghar’s most valuable parcels. Experts expect the site to host a landmark mixed-use development featuring luxury amenities such as a clubhouse, swimming pool, gymkhana, landscaped gardens, and walking tracks.
The base reserve price for the plot was Rs 3.51 lakh per sq. m., but competitive bidding drove the price significantly higher. Other major bidders included Lodha Developers Ltd. at Rs 5 lakh and Noble Organics Pvt. Ltd. at Rs 5.05 lakh per sq. m.
Dharmendra Karia, chairman of Choice Group and trustee of the Builders Association of Navi Mumbai (BANM), said, “With a plot of this scale, the developer can create a landmark residential complex by utilizing the additional floor space index (FSI) offered by CIDCO.”
Kharghar’s strong real estate momentum is being fueled by major infrastructure developments such as new metro lines, the Thane–Navi Mumbai International Airport (NMIA) elevated corridor, a 9-km double-decker road linking Palm Beach Road to NMIA, and the Ulwe Coastal Road.
CIDCO’s recent auction covered eight plots across Kharghar, Ghansoli, and Kalamboli. Another notable transaction was the sale of Plot No. 16A in Sector 8, Kharghar, measuring 4,050 sq. m., which fetched Rs 4.51 lakh per sq. m. from Arora Universal Realty.
Manohar Shroff, owner of Shivam Builders and Developers, remarked, “Kharghar has everything—a golf course, Central Park, ISKCON Temple, and top educational institutions. With excellent connectivity and massive infrastructure growth, both developers and homebuyers view Kharghar as a highly promising housing and commercial hub.”
Source: Newsband
