On the occasion of Diwali, the City and Industrial Development Corporation (CIDCO) has come up with 20 residential cum commercial plots in South Navi Mumbai. The plots are located at the prime location of Kharghar, Panvel and developing node Pushpak Nagar. Developers’ body MCHI says that this is the right time to buy a house as the availability of plots in good number has checked the price rise.

For the last year, CIDCO has made available plots of all sizes, from a raw house bungalow plot to plots for bigger residential complexes.

As promised, the planning agency has come up with 20 plots on the occasion of Diwali in Kharghar, Panvel and Pushpak Nagar nodes.

The size of plots ranges from 550 sq meters to 2500 sq meters and the base price starts from Rs 40,965 per sq meter. And, these plots can be developed with 1.1 FSI.

An official from CIDCO’s Marketing department said that the sale of the booklet of these plots was started on Diwali.

Madhu Patil, president of the MCHI Raigad unit said that CIDCO has made the availability of plots in large numbers and this is likely to bring competition among developers. “This a good time for buyers as they will get a house at a good price. In days to come, when the supply of plots will come down, and cost of construction will rise, prices of houses will increase,” said Patil.

Meanwhile, Patil alleged that the plots being auctioned by CIDCO are on as is where is basis. “CIDCO needs to ensure that plots which are being put on offer must be cleared and developers do not have a problem in developing a project,” said Patil.

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