Navi Mumbai: CIDCO extends deadline for bidding of five Nerul plots including partially CRZ plot

The City and Industrial Development Corporation (CIDCO) has extended the deadline for bidding on five Nerul plots and one Ghansoli plot for which e-action was scheduled on August 5. 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 will come 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.

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.

Published on: Thursday, August 04, 2022, 06:51 PM IST