CIDCO earmarks reserve price of land in Navi Mumbai for FY22

30 May 2021 CW Team

Real estate body City and Industrial Development Corporation (CIDCO) has approved a proposal to freeze the reserve price of land in Navi Mumbai and various surrounding areas for FY22, citing the effect of the Covid-19 pandemic on the real estate market.

The current reserve price was scheduled for revision in March 2021. CIDCO says this will encourage landowners and developers during these difficult times The real estate sector has been severely affected, since the past year, because of the economic recession caused by the pandemic and extended lockdown.

Rajesh Prajapati, Founder President, MCHI-CREDAI, Raigad, welcomed the move and cited it as a boost for the real estate sector.

Sanjay Mukherjee, Managing Director, CIDCO, said that considering the existing economic crisis, they have decided to fix the reserve price of land in Navi Mumbai, and surrounding regions. It will provide support to the real estate sector and stabilise the costs.

CIDCO, formed on 17 March 1970, is a planning agency and government authority in India that has been created and managed by the Maharashtra government. CIDCO is responsible for the development of sufficient infrastructure and handles the direct sale of the developed or undeveloped land to recover the construction expenses.

Image Source

Also read: CIDCO housing scheme: Allotment to begin from July 1

Also read: CIDCO to build 337-acre township in Maharashtra’s Palghar

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..