In Navi Mumbai, CIDCO auctions 8 plots

From ET Realty

MUMBAI: City and Industrial Development Corporation of Maharashtra Ltd (CIDCO), Navi Mumbai’s development authority, on Thursday sold total eight land parcels in Navi Mumbai in an auction for total Rs 256 crore, said two persons familiar with the development.

The auctioned plots include seven residential-cum-commercial usage plots at Nerul and a commercial plot in CBD Belapur. Highest bids for these land parcels were received in the range of Rs 1.55 lakh to 2.05 lakh per sq meter (Rs.14,400 to Rs.19,045 per sq ft), said a CIDCO official while confirming the bids.

“These plots have been sold at a decently high price range. The bids offered for these plots go on to show that various infrastructure developments across Navi Mumbai, especially the upcoming Navi Mumbai International Airport is being priced in,” said Rajesh Prajapati, Managing Director of Prajapati Constructions.

In May 2015, Cidco had sold land parcels in Nerul for around Rs 2.82 lakh per sq ft, the highest bid price for any land parcel in Navi Mumbai.

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