CIDCO to auction 106 plots in Navi Mumbai for residential development

The government of Maharashtra’s city planning authority the City and Industrial Development Corporation (CIDCO) is auctioning a total 106 plots in Navi Mumbai’s Kharghar, New Panvel, Nerul, Ghansoli and Airoli locality.

These plots ranging from 39 sq meter to 436 sq meter will be offered on a long-term lease of 60 years.

Any entity including the citizens, builders, small or big developers looking to develop bungalows, row houses and residential buildings can bid for these plots through e-auction.

“This scheme will enable the citizens to fulfil their dreams of owning and developing bungalows or row houses of their choice. Similarly, this scheme will also stimulate the real estate sector,” said Sanjay Mukherjee, Vice Chairman & Managing Director, CIDCO

Under this scheme, 28 plots are in New Panvel, 15 plots in Kharghar, 12 plots in Nerul, 38 plots in Ghansoli and 13 plots from Airoli locality making it the total 106 residential plots, the highest ever to be leased till now.

Applications for this scheme are invited through E-tender and E-auction.

The e-tender process will start from Friday until March 1, 2021. E-auction process will start from 11 am on March 3 and close at 5pm on the same day.