Friday, Nov 28, 2014

CIDCO to offer 3,290 affordable flats in Navi Mumbai

Express News Service | Mumbai | Posted: July 9, 2014 12:53 am

After selling hi-end homes in Kharghar that cost anywhere between Rs 50 lakh to a crore each earlier this year, the City and Industrial Development Corporation of Maharashtra (CIDCO) is all set to release 3292 affordable homes in its mass housing scheme in sector 36 of Kharghar in Navi Mumbai.

Almost 80 per cent of the under-construction apartments will be available for those who fall under the category of economically weaker sections (EWS), those earning below Rs 16,000 a month, while the rest will be for low income groups (LIG) which include with a monthly income ranging from Rs 16,000 to Rs 40,000.

In comparision, CIDCO’s premium homes sold under the Valley Shilp project in January this year were anywhere between 1000 sq ft to 1500 sq ft  owing to the location’s proximity to the proposed Navi Mumbai International Airport.

The homes, only half of which are available for general public with the other half reserved for various groups, have a carpet area of 307 sq ft for EWS homes and 370 sq ft for LIG units and will be ready for possession only by March 2016.

CIDCO chairman Pramod Hindurao said that CIDCO will soon launch its nano housing scheme for rickshaw drives and domestic helps.

Almost half of the 2.75 residential units in Navi Mumbai have been constructed by CIDCO since its inception in 1980.

Hindurao added that the application forms for the EWS and LIG scheme would be available for a month beginning July 22.

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