CIDCO Floats Rs 6.1 Billion Tender For Maha Nivas Project
Real Estate

CIDCO Floats Rs 6.1 Billion Tender For Maha Nivas Project

The City and Industrial Development Corporation (CIDCO) has floated a Rs 6.1 billion construction tender for Maha Nivas, a premium residential project in Navi Mumbai exclusively reserved for senior public officials and elected representatives. Designed by noted architect Hafeez Contractor, the development is located along Palm Beach Road in Belapur’s Central Business District.
Maha Nivas will feature around 350 apartments, with 3-BHK units of 1,270 sq. ft priced at Rs 24.5 million and 4-BHK units of 1,800 sq. ft priced at Rs 34.7 million. Flats are being offered at Rs 19,500 per sq. ft, almost half the prevailing market rate of Rs 30,000–60,000 per sq. ft in the area. CIDCO has already received 550 applications from MPs, MLAs, MLCs, judges of the Supreme Court and high courts, and senior IAS and IPS officers. Applicants were required to pay a Rs 100,000 registration fee, with allotments to be made through a lottery. Buyers will not be allowed to sell their flats for three years after allotment.
Strategically positioned near the Navi Mumbai Municipal Corporation headquarters and the upcoming Navi Mumbai International Airport, the project promises prime connectivity. The gated complex will offer landscaped gardens, forest zones, cycling and walking tracks, a swimming pool, mini-auditorium, amphitheatre, sports courts and a clubhouse.
The Rs 6.1 billion tender covers full execution of the project within 42 months, including electrical and plumbing systems, fire safety provisions and environmental compliance. CIDCO vice-chairman and managing director Vijay Singhal said the scheme optimises floor space index (FSI) to deliver high-quality housing within a compact footprint. He stressed that limited land availability and demand among senior officials justified the scheme, which aligns with the government’s ‘Housing for All’ agenda.
Earlier, CIDCO appointed Tata Consulting Engineers and Hiten Sethi & Associates as project management consultants at a cost of Rs 280 million, alongside a Rs 150 million contract for architectural design. The scheme has, however, drawn criticism from housing activists and developers. Manohar Shroff, senior vice president of MCHI-CREDAI Navi Mumbai, called it “exclusivist planning,” arguing that prime public land is being reserved for VIPs at subsidised rates, while private developers face high costs and legal hurdles in similar locations.

The City and Industrial Development Corporation (CIDCO) has floated a Rs 6.1 billion construction tender for Maha Nivas, a premium residential project in Navi Mumbai exclusively reserved for senior public officials and elected representatives. Designed by noted architect Hafeez Contractor, the development is located along Palm Beach Road in Belapur’s Central Business District.Maha Nivas will feature around 350 apartments, with 3-BHK units of 1,270 sq. ft priced at Rs 24.5 million and 4-BHK units of 1,800 sq. ft priced at Rs 34.7 million. Flats are being offered at Rs 19,500 per sq. ft, almost half the prevailing market rate of Rs 30,000–60,000 per sq. ft in the area. CIDCO has already received 550 applications from MPs, MLAs, MLCs, judges of the Supreme Court and high courts, and senior IAS and IPS officers. Applicants were required to pay a Rs 100,000 registration fee, with allotments to be made through a lottery. Buyers will not be allowed to sell their flats for three years after allotment.Strategically positioned near the Navi Mumbai Municipal Corporation headquarters and the upcoming Navi Mumbai International Airport, the project promises prime connectivity. The gated complex will offer landscaped gardens, forest zones, cycling and walking tracks, a swimming pool, mini-auditorium, amphitheatre, sports courts and a clubhouse.The Rs 6.1 billion tender covers full execution of the project within 42 months, including electrical and plumbing systems, fire safety provisions and environmental compliance. CIDCO vice-chairman and managing director Vijay Singhal said the scheme optimises floor space index (FSI) to deliver high-quality housing within a compact footprint. He stressed that limited land availability and demand among senior officials justified the scheme, which aligns with the government’s ‘Housing for All’ agenda.Earlier, CIDCO appointed Tata Consulting Engineers and Hiten Sethi & Associates as project management consultants at a cost of Rs 280 million, alongside a Rs 150 million contract for architectural design. The scheme has, however, drawn criticism from housing activists and developers. Manohar Shroff, senior vice president of MCHI-CREDAI Navi Mumbai, called it “exclusivist planning,” arguing that prime public land is being reserved for VIPs at subsidised rates, while private developers face high costs and legal hurdles in similar locations.

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?