The e-auction of five Nerul plots including the partially Coastal Regulation Zone (CRZ) plot along the Palm Beach Road and one Ghansoli plot will be held today afternoon.
Earlier, the City and Industrial Development Corporation (CIDCO) extended the deadline for bidding on these six plots to August 18 from August 4. However, the remaining 10 plots auction took place as per the schedule on August 4 and the results were out on August 5.
Last month, CIDCO floated a tender to e-auction 16 residential cum commercial plots in five nodes of Navi Mumbai for auction. These plots are located at prime locations in the city including near the NRI Complex in Nerul and the APMC market in Vashi. However, the date of auction was deferred.
The base price of the plot is Rs 1,36,627 per sq meter and even if the plot is sold at the base price, CIDCO will churn out at least Rs 343 crores.
While these plots can be developed with 1.1 to 1.5 FSI, developers can get more permissible FSI under the Unified Development Control & Promotion Regulations (UDCPR) by paying an additional premium.
