CIDCO Seawoods Flat Rs 28,000 a sq foot, CIDCO Stuns Market
CIDCO Seawoods Flat Navi Mumbai: CIDCO has stunned the local property market by putting on the block 17 flats in the upmarket Seawoods Estate at an unusually high rate of Rs 28,875/sq ft. Property consultants expressed surprise considering that the current rate at this complex is Rs 14,000-16,000/sq ft. Popularly known as NRI Complex, the buildings came up two decades ago with a price of Rs 1,500/sq ft.
CIDCO officials justified the price, stating that the surrounding area is developing rapidly with major infrastructure projects like the international airport and trans-harbour bridge connecting Navi Mumbai and Mumbai coming up.
Builders’ Association of Navi Mumbai (BANM) president said, “The price quoted is similar to Ghatkopar and higher than Mulund in the eastern suburbs for a high-end buyer.”
The Seawoods Estate housing scheme, developed in two phases, has apartments and duplex penthouses. The residential complex is a short drive to the upcoming international airport and the new Targhar station.
CIDCO consultant (marketing) told, “Seawoods Estate is a six-acre verdant complex. Delhi Public School is a short walk away, L&T Seawoods Mall a 10-minute drive away, and a shopping complex with restaurants in Belapur walking distance. Besides, residents can enjoy golf at Kharghar.” The Navi Mumbai Corporate Park, Kharghar, is another big draw for high-end residents, the marketing department said.
The 13 – 2 BHK and 4 – 3 BHK apartments will have a base price of Rs 2.72-3.65 crore each. The 17 flats apartments are part of phase II of the Seawoods Estate housing scheme with four of them reserved for CIDCO employees and the others for those in different caste and tribes category as per government norms. It being the fourth launch of the project, Cidco can convert it into general category for sale for unsold apartments with government nod, the marketing department said.
CIDCO has complied with Maha RERA norms and advertised the sale in carpet area for the first time. Earlier, the sale was on built-up area, the department said. There has been a 195% jump in sale price of built-up area since its initial launch in 2007 and around 69% since 2013, the third launch. For more details of the scheme Click Here.
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