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CIDCO plans on releasing 8,000 affordable homes

Navi Mumbai will be getting a generous new year’s gift by CIDCO. Residents of Navi Mumbai can rejoice as Navi Mumbai’s Ghansoli, Taloja, and Dronagiri will have 8,000 new affordable homes soon. CIDCO will be putting them up for sale in the coming months.

These houses will be on the affordable side which will mainly taregt buyers who belong to economically weaker sections of the society and low income group. The per square foot prices for the homes will be somewhere between Rs 5,400-5,600 on carpet. Hence, a 1BHK will cost up to Rs.18 lakhs.

Bhushan Gagrani, Managing Director, CIDCO said “The figures are correct, and it is true that we have a scheme of mass housing. The rate will be worked out in a couple of weeks and the rate should be between Rs 5,400-5,600 per square foot on carpet.”

The rates of the home will be finalized by the end of this year. Though the lottery isn’t coming next month, according to Gagrani, it will coming in the next two to three months. The latter has been confirmed by a senior officer from CIDCO.

Last month, MHADA held a lottery for around 800 houses in Mumbai, for which 70,000 people had applied.

Navi Mumbai already has got approvals for more than 15,000 homes under the Pradhan Mantri Awas Yojna (PMAY). These 15,000 homes will be constructed by CIDCO at Taloja, Kalamboli, Kharghar and Dronagiri.

The central Government has allocated Rs. 1.5 Lakhs to around 300 aq. ft. each. Thus bringing down the cost of the home further down by a total of Rs 2.5 lakh.

NOt only CIDCO, but even MHADA will be constructing 3000 affordable homes in Mumbai Metropolitan Region under PMAY


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Surabhi Mahadevan

Words cannot describe my love for beauty, cats and water

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