8000 CIDCO Affordable Homes Navi Mumbai Ghansoli, Taloja & Dronagiri

Nearly 8,000 homes in Navi Mumbai's Ghansoli, Taloja, and Dronagiri will be put for sale by the City and Industrial Development Corporation of Maharashtra Ltd., in the coming months.

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8000 CIDCO Affordable Homes Navi Mumbai Ghansoli, Taloja & Dronagiri

CIDCO Affordable Homes Navi Mumbai: This new year will bring a good news for people wanting to buy homes. Nearly 8,000 homes in Navi Mumbai’s Ghansoli, Taloja, and Dronagiri will be put for sale by the CIDCO (City and Industrial Development Corporation of Maharashtra Ltd.), in the coming months.

The homes, which are in the affordable segment, will be mainly for the Economically Weaker sections of the society and the Lower Income Group. The per square foot prices for the homes will be anywhere between Rs 5,400-5,600 on carpet. A compact 1 BHK thus would cost up to Rs 18 lakh and above.

Confirming the same, Managing Director, CIDCO said, the figures are correct, and it is true that they have a scheme of mass housing. The rate will be worked out in a couple of weeks and the rate should be between Rs 5,400-5,600 per square foot on carpet.

The rates haven’t been finalised yet, and the concerned department is working on them. They should be decided by the end of this year. While he specified that the lottery isn’t coming next month, a senior officer from CIDCO said that within two to three months, the process should start. Only last month, MHADA held a lottery for its nearly 800 houses in Mumbai, for which nearly 70,000 people had applied.

The other factor to be taken into consideration is that under the Pradhan Mantri Awas Yojna (PMAY), Navi Mumbai already has got approvals for more than 15,000 homes. The 15,000 homes approved for Navi Mumbai will be constructed by the CIDCO at Taloja, Kalamboli, Kharghar and Dronagiri. The project comprises homes for the Economically Weaker Section and the Lower Income Group.

For the houses, under PMAY, around 300 sq ft each, the central government allocates Rs 1.5 lakh, while the state’s share is Rs 1 lakh. This brings down the cost of the home further down by a total of Rs 2.5 lakh.

Apart from CIDCO, under PMAY, nearly 3,000 more homes are going to come up in the Mumbai Metropolitan Region, which are being constructed by the MHADA.

Source Link- http://www.dnaindia.com/mumbai/report-cidco-to-release-8k-affordable-homes-2566629

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