CIDCO offers 16,000 sq.mt land for realty projects

    Cidco Realty Projects
    In its quest to ensure sufficient funding flow for the construction of the Navi Mumbai International Airport (NMIA) and Smart City project, the City and Industrial Development Corporation (CIDCO) in a recent move has offered 16,000 sq.mt areas for residential and commercial purposes in Ghansoli area of the metropolitan city. The plots in the project are spread across sector 2 and sector 4 where the average price was Rs. 70,000 per sq.mt in September this year, while in the same node last year, similar-sized plots were quoted at Rs. 90,000 to Rs. 1,00,000 per sq.mt. It may be recalled that CIDCO offered four plots in Ghansoli this September, which were quoted at 30% less than the last year. An official of CIDCO said that the agency needs funding for upcoming projects like NMIA and Smart City and the nodal agency will require more funds to execute its affordable housing projects which were launched earlier this year by Chief Minister Devendra Fadnavis. For residential-cum-commercial plots, 25% of the construction can be commercial and the remaining to be used for residential purpose, he said.
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