CIDCO EWS Housing Scheme 2018 Oversubscribed By Almost 24 Times

CIDCO (Confederation of Real Estate Developers' Association of India) has priced the EWS flats in five nodes. All nodes except Ghansoli are in Raigad district. The nodes where CIDCO has developed the housing scheme have infra connectivity with more amenities in the offing.

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CIDCO EWS Housing Scheme 2018 Oversubscribed By Almost 24 Times

CIDCO EWS housing scheme 2018 for 5,262 flats under Prime Minister Awas Yojana (PMAY) has been oversubscribed by almost 24 times. The lottery draw is scheduled for October 2.

CIDCO (Confederation of Real Estate Developers’ Association of India) has priced the EWS flats in five nodes. All nodes except Ghansoli are in Raigad district. The nodes where CIDCO has developed the housing scheme have infra connectivity with more amenities in the offing.

Scheme Details: Apply Online For CIDCO Navi Mumbai Lottery 2018 For EWS & LIG Under PMAY

EWS home buyers have got a rather good deal as the average price per sq ft at Rs 6527.5 is lower than the rate at which they would buy at far-flung Khopoli where the price is Rs 6600 per sq ft.

CREDAI MCHI, Raigad unit source said affordable housing is not much in demand beyond the CIDCO developed nodes as there are fewer slums in the area.

The EWS scheme, with an average rate per sq ft at Rs 6,528 for a flat of 277.81 sq ft is described as saleable built up area as per RERA carpet area across nodes in Navi Mumbai.

Read Also: CIDCO New Affordable Housing Scheme For EWS To Be Launched In December

Slum dwellers or anyone with a monthly income of Rs 25,000, as per the criterion, can afford to buy a flat here. Those working in the unorganised sector can also avail by providing attested income certificates from the tehsildar.

Affordable housing for EWS isn’t available in the city at the price offered by CIDCO’s mega housing scheme as private developers factor in land cost that marks up the flat price. As part of cross-subsidy strategy, CIDCO has factored 19% of the reserve price of land and 81% of the construction cost to price the flats.

Read Also: CIDCO Plot Bidding Winners To Construct Residential Cum Commercial Towers

The high demand for the flats is attributed to slum dwellers besides the growth of economic activities that have led to migration from outside and other parts of the state.

Source Link- https://timesofindia.indiatimes.com/

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