There are only 17 flats for Rs.28,000 per sq.ft.

Looks like buying a house in Navi Mumbai might require more than just two toughts. The local property market was in for a surprise when CIDCO increased the rates of 17 vacant flats in the burgeoning market of Seawoods estate. The current price per sq.ft. of a flat in NRI complex has gone from Rs.14,000 -16,000 to Rs. 28,875.

Since Navi Mumbai is witnessing a rapid development in terms of infrastructure with upcoming projects like the international airport and even a trans-harbour bridge connecting Navi Mumbai and Mumbai, CIDCO feels that they see the validity in increasing the prices of the flats.

Here’s what CIDCO officials had to say regarding this issue

“The price quoted is similar to Ghatkopar and higher than Mulund in the eastern suburbs for a high-end buyer”

–  Association of Navi Mumbai president Haresh Chheda

“Seawoods Estate is a six-acre verdant complex. Delhi Public School is a short walk away, L&T Seawoods Mall a 10-minute drive away, and a shopping complex with restaurants in be lapur walking distance. Besides, residents can enjoy golf at Kharghar.”

–  CIDCO consultant (marketing) Vivek Marathe said,

CIDCO has also devloped the Seawoods Estate complex on stilt and few 18-storey buildings on a sprawling stretches of land along Palm Beach Road.

These aprtments are now up for online sale for the first time in a lottery scheme. CIDCO ensured that the scheme has 100% transparency.


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Surabhi Mahadevan

Words cannot describe my love for beauty, cats and water

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