Navi Mumbai: CIDCO offers 13 residential cum commercial plots in prime location of 3 nodes

Navi Mumbai: CIDCO offers 13 residential cum commercial plots in prime location of 3 nodes

The plots will be allotted through e-tendering and the e-auction process.

Amit SrivastavaUpdated: Wednesday, February 08, 2023, 02:15 AM IST
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Navi Mumbai: CIDCO offers 13 residential cum commercial plots in prime location of 3 nodes | FPJ Photo

Navi Mumbai: The City and Industrial Development Corporation (CIDCO) has come up with 13 residential cum commercial purpose plots at Nerul, Koparkhairane and Ghansoli in Navi Mumbai. The size of these plots ranges from 1,070 sq. m. to 2514 sq. m. 

The plots will be allotted through e-tendering and the e-auction process. The bidder registration is underway and the e-tender process will be completed by February 13. Accordingly, the e-auction will be conducted on February 15, 2023.

Price of plots

Of the 13 plots offered by CIDCO, 10 plots are located in Nerul, two in Koparkhairane and one in Ghansoli. The base price of these plots ranges from Rs 63,000 to Rs 1,04,000. They can be developed with 1.5 FSI. However, the developer can consume more FSI by paying an additional premium under UDCPR 2020.

Last year in November, a 5526 sq. meters residential cum commercial plot in the Sanpada node received a record bid of Rs 5.54 lakh per sq meter during an e-auction carried out by the CIDCO. The bid price was the highest ever in the city.

Height restrictions

Removal of height restrictions on buildings in Navi Mumbai has unlocked the potential of land prices in Navi Mumbai. In July 2022, the Airports Authority of India (AAI) agreed to grant height NOCs for buildings located within a 20 km radius of the proposed Navi Mumbai International Airport (NMIA). As per the decision, buildings upto the elevation of 160.10m above mean sea level (AMSL) will be allowed in the city. According to the developers’ body, the decision has unlocked the vertical development and buildings upto 48-story can be constructed. 

For the last year, CIDCO has been consistently providing plots for residential, commercial, social and cultural purposes for sale. "The adequate supply of land will offer homes at affordable rates," said another senior official of CIDCO.

Navi Mumbai has gained smooth connectivity due to its suburban railways, highways and network of internal roads. Soon the city will be connected to the world, with the development of Navi Mumbai International Airport. Moreover, the public transportation system will become more capable with the development of Navi Mumbai Metro. The commercial sector of the city will soar high with the development of the proposed International Corporate Park. 

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