Bids for CIDCO’s 25,138.86 sqm plot in Nerul can be submitted till August 17

The bid for five plots in Nerul and one plot in Ghansoli can be submitted by August 17. Earlier, the City and Industrial Development Corporation (CIDCO) was supposed to conduct the e-auction on August 5. However, it extended the deadline.

Now, the e-action will take place on August 18. However, the remaining 10 plots auction took place as per the schedule on August 4 and the result was published on August 5.

Last month, CIDCO floated a tender to e-auction 16 residential cum commercial plots in five nodes of Navi Mumbai for auction. These plots are located at prime locations in the city including near the NRI Complex in Nerul and the APMC market in Vashi.

The auction was scheduled for August 5. However, the planning agency has extended the deadline for participating in the bidding for five Nerul plots and one Ghansoli plot till August 17 and the e-auction will take place on August 18 and the result will be published on August 22.

The date for the 25,138.86 sqm plot, adjoining the NRI Complex in Nerul has also been extended. The plot is located at one of the most sought-after and premium locations in the city.

The base price of the plot is Rs 1,36,627 per sq meter and even if the plot is sold at the base price, CIDCO will churn out at least Rs 343 crores.

While these plots can be developed with 1.1 to 1.5 FSI, developers can get more permissible FSI under the Unified Development Control & Promotion Regulations (UDCPR) by paying an additional premium.