CIDCO to construct budget homes in Navi Mumbai for LIG and EWS

Good news for people wanting to buy affordable homes in Navi Mumbai. Starting Thursday, people can apply for homes in Navi Mumbai's Kharghar area. The City and Industrial Development Corporation (CIDCO) has floated a lottery of 814 homes of its Swapnapurti Project. Of this 615 homes are for Lower Income Group (LIG) while the remaining are for Economically Weaker Section (EWS) category. These homes are priced at Rs 39.17 lakh for LIG, while Rs 24.99 lakh for EWS. The applications will be accepted from September 5, while the lottery is scheduled to be held on October 17.

This lottery comes hardly a week after CIDCO announced that it will be constructing 1.09 lakh homes in Navi Mumbai's Sanpada area where it has identified 230 hectare of land. Already CIDCO is carrying out construction of more than 90,000 homes across different nodes of Navi Mumbai.

The homes on offer by CIDCO this time are located in the education hub of Navi Mumbai, Kharghar. A senior official said, "The project is around seven kilometers from Kharghar station, and close to the upcoming metro station. The building have been constructed using the modern technology. The buildings also have 24 hours water supply along with a fire fighting mechanism installed. The complex where these buildings are has reputed educational institutes too." The homes that have been put in lottery by CIDCO have already received Occupation Certificate. Which means those who win the lottery may be able to shift soon.

CIDCO has been planning an another lottery of close to 9,000-10,000 homes of which around 8,000 homes are in registration process with Maharashtra Real Estate Regulatory Authority (MahaRERA). Majority of these homes are located in Taloja, while some are in Kharghar and other nodes of Navi Mumbai. These homes are for Economically Weaker Section and lower-income group. Of these 65% of homes are meant for EWS, while remaining are for lower-income group. The prices of the homes will be around Rs 22-26 lakh but this is tentative, exact prices will be known soon after a formal announcement

Under the Pradhan Mantri Awaas Yojna, (PMAY) those eligible for the homes will even get a subsidy by the government for these homes.