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Updated on: Friday, November 26, 2021, 06:55 PM IST

Navi Mumbai: CIDCO's 11 plots in Kharghar fetch Rs 516 crores

CIDCO | File Photo

CIDCO | File Photo

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Eleven plots of Kharghar fetched around Rs 516 crores to City and Industrial Development Corporation (CIDCO) after it actioned these plots on Thursday. Last week, the planning agency had earned Rs 475 crores from the sale of plots through e-auction in Kharghar and New Panvel.

All the 11 plots there were out on auction by CIDCO is located at sector 11 and they are adjoining. According to developers, these plots can be developed with amalgamation as per the rules.

Of the total 11 plots, Infinity Infra won the bids of six plots and the bid price ranges between Rs 1,47,788 and Rs 1,91,981 per sq meter. However, a 3867 sqm plot received the highest bid of Rs 2,21,557 sqm from Future Icon Builders LLP. Another 2169 sqm plot received the second-highest bid of Rs 2,05,555 per sqm.

Last week, CIDCO earned Rs 475 crores through the auction of 19 residential cum commercial plots in Kharghar and New Panvel nodes of Navi Mumbai. A 3900 sq meter plot at sector 37 in Kharghar had received the highest bid of Rs 1,53,999 per sq meter, bagged by Gajra Home Builders. For the last year, the planning agency has flooded with the availability of plots across the city.

Kharghar is one of the developed nodes under CIDCO jurisdiction and the Navi Mumbai metro will connect it to Belapur in days to come. In addition, the node has a number of infrastructure projects are lined up. Even the Golf Course of the node has been proposed to make international standard by increasing 9 holes to 18 holes.

Haresh Chheda, president of Builders Association of Navi Mumbai (BANM) said that all the plots are at good locations and the bid price shows that there is still demand in the market. “The available FSI 1.5 but it can be increased under the Unified Development Control and Promotion Regulations (UDCPR). There is also a discount on FSI premium till December 2021 and that’s why these plots have received a good price,” said Chheda.

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Published on: Friday, November 26, 2021, 06:55 PM IST
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