Mumbai: Cidco set to come out with lottery of 10,000 homes

In good news for homebuyers ahead of Ganesh Chaturthi, City Industrial Development Corporation (Cidco) is all set to come out with a lottery of close to 10,000 homes in Navi Mumbai.

According to DNA, Lokesh Chandra, Managing Director, Cidco, confirmed the lottery. A senior Cidco official told the leading daily that already over 8,000 homes are being registered with MahaRera, many homes are pending from the last lotteries and the total figure would go close to 10,000 homes.

The official further told DNA, "These homes are for Economically Weaker Section and lower-income group. Of these 65% of homes are meant for EWS, while remaining are for lower-income group. The prices of the homes will be around Rs 22-26 lakh but this is tentative, exact prices will be known soon after a formal announcement."

A similar offer by CIDCO for over 14,000 homes under its mega housing scheme in October last year received an overwhelming response. People, who missed out on October’s draw, participated in another round of lottery for 1,100 unsold flats that were part of the same scheme. Online applications for these 1,100 flats, which were open from January 1 to 31 this year, received an overwhelming response and saw over 57,000 valid applications.

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