CIDCO rakes in over Rs 100 crore by leasing out 4 Navi Mumbai plots
Interestingly, all the four plots--each admeasuring nearly an acre--have received more than the reserve price of Rs 55,216 per sq meter or Rs 22.34 crore.
Interestingly, all the four plots--each admeasuring nearly an acre--have received more than the reserve price of Rs 55,216 per sq meter or Rs 22.34 crore. The plots had an FSI of 2, and are allowed, commercial, residential, and even commercial plus residential use.
CIDCO, the planning authority for Navi Mumbai region, confirmed generating revenue of Rs 101 crore through the long-term lease of these plots to local developers.
The auctioned plots--2, 19 21 and 39--are located in sector 5 of Pushpak Nagar and bids for the plots were invited through both e-tender and e-auction process.
While plot number 2, had the highest bid at Rs 86,216 per sq meter, plot number 19 saw the highest bid of Rs 68,216 per sq metert. Plot number 21 witnessed the highest bid of Rs 78,216 per sq meter and plot number 39 saw the highest bid of Rs 76,221 per sq meter.
Each of this plot received bids from at least 3 bidders, except for plot number 21 for which there were a total four bidders.
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.
CIDCO 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.