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Navi Mumbai: CIDCO decides to give promoter developers the benefit of reverse charge mechanism at extra premium

Navi Mumbai: CIDCO decides to give promoter developers the benefit of reverse charge mechanism at extra premium
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Navi Mumbai: CIDCO makes Rs 306 crores from six plots; two Sanpada plots fetch over Rs 225 crores

: Friday, February 12, 2021, 6:28 PM IST Navi Mumbai: CIDCO makes Rs 306 crores from six plots; two Sanpada plots fetch over Rs 225 crores File Photo The City and Industrial Development Corporation (CIDCO) churned out Rs 306 crores by auctioning six residential cum commercial plots in Kharghar, Kalamboli, and Sanpada nodes. The 5858 sqm plot in Sanpada’s sector 18 fetched over 153 crores in the e-auction. Although the Sanpada plot, which is located in the service road along the Palm Beach Road fetched over 153 crores, a similar plot sold in 2016 had attracted a record price of Rs 3.39 lakh per sqm. In 2016, the plot was sold at Rs 3,39,339 per sqm while now the plot received the highest bid of Rs 2,62,548 per sqm.

Navi Mumbai: CIDCO gives plot buyers 9-month time to make payment

Navi Mumbai: CIDCO gives plot buyers 9-month time to make payment
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Navi Mumbai Municipal Corporation clears redevelopment of dilapidated bldgs in Vashi, Nerul

Navi Mumbai Municipal Corporation clears redevelopment of dilapidated bldgs in Vashi, Nerul New development was not possible due to lack of availability of vacant plots Navi Mumbai : In a major development, the Navi Mumbai Municipal Corporation (NMMC) cleared four proposals for the redevelopment of old and dilapidated buildings in Vashi and Nerul node. While the decision has brought a major relief to people residing in these dilapidated structures, real estate expert says that it is a boost for the sector as houses will be available in premium nodes where new development was not possible due to lack of availability of vacant plots.

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