Navi Mumbai: CIDCO projects top in registration in first six months of current financial year

A report prepared by the Builders Association of Navi Mumbai (BANM) regarding the registration of properties in the Taloja node from April to September 2022 revealed that the maximum number of properties were registered in CIDCO projects.

The City and Industrial Development Corporation Limited (CIDCO) has been constructing a large number of houses for economically weaker sections (EWS) and low-income groups (LIG) for which the construction is underway in various nodes including in Taloja. Taloja is a developing node and also one of the sought-after destinations for affordable houses.

As per the report, the top five registered projects were from CIDCO’s mass and mega housing projects in different sectors of the node. The report found that 193 units were registered during the period from CIDCO’s project located in sector 27 in Taloja. Similarly, 87 units were registered from the sector 31 projects. Similarly, private developers’ projects like Shelter Riverside, RD Parbati Arcade, and Tarique Galaxy are among the top ten projects registered in the first six months of the current financial year. A senior member of BANM said that the report is prepared to understand the trend and buying behaviour.

Meanwhile, CIDCO’s public relations department said that CIDCO’s housing projects are preferable among home buyers due to its proximity to railway stations and highways. “Though the report was prepared by BANM, it showed that CIDCO projects are getting good responses from home buyers,” said Priya Ratambe, PRO, CIDCO. She added that apart from affordable housing, CIDCO’s houses are constructed on the lines of “Transit Oriented Development ''.

Taloja is a developing node adjoining Kharghar and also emerged as the destination for affordable houses. Apart from CIDCO, a large number of private developers have projects in the node. The upcoming Navi Mumbai Metro will connect the node with Kharghar and Belapur. Real estate experts believe that the timely implementation of infrastructural projects may be a game changer for the developing node in the future.