Any land in Navi Mumbai is leased to a developer via CIDCO. The developers further invests in constructions of homes, impacting the house prices.
Seven plots have been put up for auction by CIDCO in CBD Belapur, Koparkhairane and Ghansoli of Navi Mumbai. A plot in Ghansoli is speculated to have a multiplex.
Any land in Navi Mumbai is leased to a developer via CIDCO. The developers further invests in constructions of homes, impacting the house prices. The tenders for the land will be opened on April 11 while April 9, is the last date for the submission.
The two plots in CBD Belapur put up on sale measure 794.72 sq mt and 2437 sq mt respectively. The base price for the smaller plot located in Sector 2, is Rs 41,533 per sq mt, while for the larger one located at Sector 30/31 which has an FSI of 1.5 is Rs 62,300 per sq mt. The Earnest Money Deposit (EMD) amount for the smaller plot is Rs 33,00,710, while that of the bigger one is Rs 1,51,82,510.
Only one plot at Koparkhairane that has been put on sale, it is a commercial plot located in sector 9, measuring 3700 sq mt, the base price is Rs 70,805 per sq. mt. while the EMD amount stands at Rs 2,61,97,850.
At Ghansoli, there are four plots that the corporation has decided to lease out. The first one measures 2000 sq mt has an FSI of 1 and is located in sector 6. The base price for the plot is Rs.26,040 per sq. mt. while the EMD amount is Rs.52,08,000. The second plot is located at sector 6, it is for residential use, and measures 1875 sq mt. The FSI again is 1 and the base price is Rs 26,040.00 per sq mt while the EMD amount is Rs 48,82,500.
Apart from this, another plot measuring 1600 sq mt meant for residential plus commercial use with an FSI of 1.5 located in sector 7 also is part of the tender. The base price of this plot is Rs 52,731 per sq. mt. and the EMD amount is Rs 84,36, 960. Another plot at Ghansoli's sector 7, which is a residential plus commercial use plot including a multiplex is available. The plot measures, 4150 sq. mt, the FSI available for this plot is 1.5 and the base price is Rs 52,731 per sq mt, while the EMD is amount is Rs. 2,18,83,365.
Haresh Chedda, president, CREDAI-BANM, apex real estate body of Navi Mumbai said, "The plots are up for auction, we are expecting that developers will quote above the base price. With plots coming in from CIDCO home buyers do expect that housing stock will increase and prices will come down. The plots that are released by CIDCO are too less thus the prices do not get impacted much though."
FLOATING TENDERS
- The tenders for the land will be opened on April 11 while April 9, is the last date for the submission
- The plots are situated at CBD Belapur, Koparkhairane and Ghansoli of Navi Mumbai
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