CIDCO Earns Rs 101 Crore By Leasing Out Plots.
CIDCO Leased Out Four Plots In Navi Mumbai to earn this amount.
City and Industrial Development Corporation (CIDCO) earned Rs 101 crore in a day by leasing out four plots in Navi Mumbai’s Pushpak Nagar area. They received more than the reserve price for all the four plots.
All the four plots are located in sector 5 of the area, the plot numbers are 2, 19 21 and 39. Every plot measures 3290 sq mt and the reserve price of the plots was Rs 55,216 per sq mt. All the four plots had an FSI of 2, and are allowed, commercial, residential, and even commercial plus residential use.
While plot number 2, had the highest bidder bidding via e-auction for Rs 86,216 per sq mt, plot number 19 saw the highest bid of Rs 68,216 per sq mt. Plot number 21 witnessed the highest bid of Rs 78,216 per sq mt and plot number 39 saw the highest bid of Rs 76,221 per sq mt.
Bids for the plots were invited via two modes, e-tender and e-auction process. For every plot there were a minimum of three bidders who came forward, except for plot number 21 for which there were a total of four bidders.
CIDCO which is the planning authority for Navi Mumbai region has been putting up plots in various nodes of the town up for long lease where developers acquire these plots from CIDCO and then construct residential or commercial projects on them.
A statement from CIDCO stated that they were happy with the response and the total revenue that CIDCO generated by the lease of these plots is Rs 101 crore.
Plot number two got them the revenue worth Rs 28.36 crore, plot number 19 got CIDCO Rs 22.44 crore, plot number 21, generated a revenue of Rs 25.73 crore and the last plot number 39 generated Rs 25.07 crore thus taking the total revenue generated to Rs 101 crore.
Meanwhile, CIDCO is carrying out a lottery of close to 10,000 homes in Navi Mumbai and recently even announced that it will be constructing 1.09 lakh homes in Sanpada. These homes are under Pradhan Mantri Awaas Yojna (PMAY).