CIDCO Lottery 2018 Flats Cost Higher Than Private Flats In Navi Mumbai

CIDCO has been selling flats that cost Rs 6,000 per square ft at Taloja- Kharghar and Dronagiri areas, the private developers are selling at the rate of Rs 3,500-to-4,000 per sq ft.

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CIDCO Lottery 2018 Flats Cost Higher Than Private Flats In Navi Mumbai

Maharashtra government’ s nodal agency CIDCO (City and Industrial Development Corporation) announced the lottery for 14,000 affordable houses for the Economically Weaker Sections (EWS) recently. However, the cost of CIDCO apartments are higher than the private flats, developer-built apartments in Navi Mumbai.

According to the property experts, CIDCO has been selling flats that cost Rs 6,000 per square ft at Taloja- Kharghar and Dronagiri areas, the private flats, the developers are selling at the rate of Rs 3,500-to-4,000 per sq ft. Besides, the construction quality of private developers is way more advanced than the CIDCO houses. Therefore, we are sure that there will be hardly any takers for this CIDCO housing scheme which was announced with much fanfare, said CIDCO official.

Read Also: CIDCO App For Lottery 2018 Registration To Be Launched Soon

He further said that they can not reduce the prices of CIDCO apartments because they have to follow prescribed norms to determine the prices of properties.

When contacted vice-president of Maharashtra Chamber of Housing Industry, MCHI-Navi Mumbai, confirmed that property rates differ between private flats of developers and CIDCO houses. On the one hand, the government asks the developers to construct affordable houses while on the other hand, they themselves are selling costly houses. It is good for us, but it is the common people’s loss who cannot afford to buy the flats at a higher cost.

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

He further said that most of the announced lottery house locations are quite far flung from the main city. Currently, these locations are neither connected to local trains nor the public transport. People have to depend on the mercy of private vehicles such as autos. However, after 9.00 in the evening, people will find it difficult to get private autos too. We should have the basic infrastructure in place first, then the lottery should be announced.

When contacted, CIDCO spokesperson, said that the sq ft-wise developer houses may look cheaper than the CIDCO homes but the former has a lot of hidden costs. CIDCO sold the houses as per the carpet area while developers are selling as per the built-up area. Besides, they have other charges so our house will be always cheaper in the end.

Read Also: Apply Online For CIDCO Navi Mumbai Lottery 2018 For EWS & LIG Under PMAY

Source Link- https://www.dnaindia.com/

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