Cidco matches private developers with 40% loading

Friday, 21 February 2014 - 6:00am IST | Place: Kharghar | Agency: DNA

Despite people flocking Cidco's Kharghar housing project – Valley Shilp – to catch a glimpse of the sample flat, the planning agency has received only over a 1,000 applications for the 1,244 flats being constructed for the middle income (MIG) and higher income groups (HIG) in sector 36 of the node. According to sources, the "high loading" factor is acting as a deterrent to buyers, who want to know the "difference between a private developer and Cidco."

The project has around 802 homes for MIG and 422 for HIG. The loading for MIG homes is 40% as these have a built-up area 1015.42 + 55.98 sq ft [dry balcony] and carpet area of 609 + 45.19 sq ft [dry balcony]. The cost of MIG homes falls in the range of Rs49 lakh to Rs60 lakh. While loading for HIG homes is around 30% with a built-up area of 1515.76 + 58.18 sq ft [dry balcony] and carpet area of 1024.56 + 58.18 sq ft [dry balcony]. The cost of HIG homes is in a range of Rs96 lakh to Rs1.07 crore.

"The Kharghar housing project has loading for both MIG and LIG homes. It is in a range of 30-40%, which is almost at par with private developers. The main reason why people are interested in purchasing homes from government authorities is they have less loading, but if it comes with such a big ratio, it is a cause of concern. There is no difference between a private developer and Cidco," said a source.

However, Cidco, while acknowledging that there is loading, has denied the ratio of 40% loading. "It is true that there is loading in Valley Shilp project. However, the figure is too exaggerated. The agreements are signed based on carpet value," said Cidco PRO Mohan Ninawe.

When asked what will be the exact ratio of loading, Ninawe said, "It will have to be calculated."

February 20 was the last day for submission of applications.

People wishing to purchase property in MIG segment have to shell out Rs5 lakh as deposit and those in HIG have to pay Rs10 lakh as deposit.

An official, said, "Though private builders are selling flats at exorbitant rates in the area, Cidco has managed to regulate the rates. And one also has to see at the kind of facilities that will be available at the project. Private builders charge high for all these facilities."

The planning agency will be providing state-of-the-art facilities at this housing project like AC club house, tennis court, lawn area of 3,500 sq m, six guest rooms, swimming pool, multi-purpose hall, yoga and meditation centres, gymnasium, cafeteria. The houses are well-furnished and are equipped with modern amenities like CCTV surveillance across the complex.

The draws will be held as per lottery system. Cidco plans to give possession of Valley Shilp project by May.

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