CIDCO to auction 12 Navi Mumbai land parcels for residential, commercial development

The Maharashtra government’s city planning body, City and Industrial Development Corporation (CIDCO) has decided to sell 12 large land parcels, through an e-auction, in Navi Mumbai for residential and commercial developments.

These land parcels spread over half an acre to two acres are located in nodes like Kharghar, Kalamboli and New Panvel in Navi Mumbai. The town planning body has taken the decision to sell these plots following the response to its earlier sale of small and medium plots in the city.

“This scheme will prove beneficial for the revival of the hampered real estate sector due to pandemic and prolonged lockdown. Further, magnificent residential and commercial constructions on large plots will add up to the development of the city,” said Sanjay Mukherjee, vice chairman & managing director, CIDCO.

CIDCO has been consistently providing plots of residential, commercial, social and cultural purposes for sale. This enables CIDCO to accomplish the goal of overall development of the city.

These land parcels have clear title and are being offered at affordable rates and guaranteed by CIDCO. This scheme will be conducted through e-tendering and e-auction process.

The bidder registration for these plots will start from Tuesday, June 15. The e-tender process will be conducted from Tuesday until July 6, while the e-auction will be conducted on July 8, CIDCO said.

Over the last few years, Navi Mumbai has gained smooth connectivity due to its suburban railways, highways and network of internal roads. The city, known to be the satellite city of the country's financial capital Mumbai, will soon have global connectivity with the development of Navi Mumbai International Airport.

Last week, CIDCO appealed to owners of land parcels falling within the Navi Mumbai Airport Influence Notified Area (NAINA) to submit their consent letters soon to fast-track development plans in the area.

The public transportation system will also get strengthened with the development of Navi Mumbai Metro network, while the commercial sector will soar high with the development of proposed International Corporate Park.