+
Cidco cancels allotment of 2 plots in Navi Mumbai
Real Estate

Cidco cancels allotment of 2 plots in Navi Mumbai

The City and Industrial Development Corporation of Maharashtra (CIDCO) has officially revoked the allotment of two adjacent plots located in Sampada, Navi Mumbai, to Godrej Properties, as confirmed by the company in a regulatory filing with the Bombay Stock Exchange (BSE).

In response to the cancellation, Godrej Properties expressed its disagreement with the grounds for the action, deeming it untenable and in apparent violation of an order issued on May 3, 2023, by the High Court of Judicature at Bombay. The said order, titled "Godrej Properties Ltd. vs. State of Maharashtra," had seemingly supported the company's position.

In light of this development, Godrej Properties has taken legal recourse by filing a writ petition before the Bombay High Court to challenge the cancellation order. The company conveyed its optimism for a favorable resolution based on its legal assessment and the existing legal framework.

This episode traces back to March 2021 when Godrej Properties emerged as the highest bidder in CIDCO's e-auction process for the two adjacent plots, with a combined bid value of Rs 166 crore. The cancellation of the allotment has raised questions and legal implications that the company is actively addressing through the legal channels available.

The outcome of this legal battle will be closely watched, as it may have implications for future land allotments and transactions in the region.

The City and Industrial Development Corporation of Maharashtra (CIDCO) has officially revoked the allotment of two adjacent plots located in Sampada, Navi Mumbai, to Godrej Properties, as confirmed by the company in a regulatory filing with the Bombay Stock Exchange (BSE). In response to the cancellation, Godrej Properties expressed its disagreement with the grounds for the action, deeming it untenable and in apparent violation of an order issued on May 3, 2023, by the High Court of Judicature at Bombay. The said order, titled Godrej Properties Ltd. vs. State of Maharashtra, had seemingly supported the company's position. In light of this development, Godrej Properties has taken legal recourse by filing a writ petition before the Bombay High Court to challenge the cancellation order. The company conveyed its optimism for a favorable resolution based on its legal assessment and the existing legal framework. This episode traces back to March 2021 when Godrej Properties emerged as the highest bidder in CIDCO's e-auction process for the two adjacent plots, with a combined bid value of Rs 166 crore. The cancellation of the allotment has raised questions and legal implications that the company is actively addressing through the legal channels available. The outcome of this legal battle will be closely watched, as it may have implications for future land allotments and transactions in the region.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?