Maharashtra town planning body puts 182 Navi Mumbai plots on block

The Maharashtra town planning authority, City and Industrial Development Corporation (CIDCO) has put over 182 plots on the block in Navi Mumbai and expects to fetch revenue over Rs 150 crore through the proposed e-auction. These plots range between 430 sq ft to 3,229 sq ft and are located in Navi Mumbai's New Panvel, Ghansoli, Airoli, Kalamboli, and Kharghar localities. The bidder’s registration, application, and payment of Earnest Money Deposit (EMD) will be conducted from June 22 and July 13. The e-tender process will be conducted between June 22 to June 14, while the e-auction will be conducted on July 15. CIDCO also put 12 land parcels on the block in Navi Mumbai with a revenue target of Rs 450 crore through this e-auction earlier this week. The new set of 182 plots is for direct homebuyers looking to build their houses, while earlier land parcels were for realty developers for both residential and commercial development. CIDCO vice-chairman and managing director Sanjay Mukherjee told the media that the authority has undertaken various schemes to provide relief to the common people along with the real estate sector amid pandemics. Under this scheme, the plots provided by the government's town planning authority hold clear titles, are offered at affordable prices and are guaranteed by the CIDCO. Now renewed demand and supply can be seen in many peripheral micro-markets where demand remained muted before the pandemic. Now people prefer to live in big, open, and green spaces in peripheries at affordable charges. Earlier in June, CIDCO appealed to land parcel owners falling within the Navi Mumbai Airport Influence Notified Area (NAINA) to submit their consent letters soon to fast-track development plans in the area. Image Source Also read: MahaRERA demands to make information about flats sold public Also read: MahaRera directs asks builders to reveal permission details to buyers