If you are looking to buy a house in Navi Mumbai without taking a big loan, here's some good news for you. The City and Industrial Development Corporation (Cidco) on Wednesday launched a new housing scheme that will put 1,344 flats in the market.
The new housing project, called the Unnati Gruhanirman Yojana, is in Ulwe near Belapur. The Cidco on Wednesday started issuing forms for the project.
The scheme was launched two years after its Vastu Vihar and Celebration housing schemes in Kharghar and seven years after its Gharaunda scheme in Ghansoli.
The 1,344 flats will be of two types: there will be 800 flats of 324.21 sq ft area, 538 flats of 452.52 sq ft and six flats of 370.71 sq ft.
The flats are priced between Rs 1,950 per sq ft and Rs 2,400 per sq ft and will cost approximately between Rs 6.32 lakh and Rs 10.86 lakh. The costliest flat will be on the seventh floor and cost Rs 11.65 lakh.
Residents who book a flat will have to give a deposit of Rs 15,000 for the smaller flat and Rs 25,000 for the bigger flat.
"These houses are meant for people from the economically weaker sections and the low income group," said Mohan Ninawe, Cidco's public relations officer.
Denying that the rates were similar to those offered by private builders in the locality, Ninawe said: "Our pricing is for the carpet area unlike private builders who quote on the super built-up area.
Cidco's objective is to provide quality housing that is affordable."
The form booklets, priced at Rs 50, are being issued at branches of the Thane Janata Sahakari Bank Ltd, and at Cidco offices.
The booklets will be issued till August and forms can be submitted from July 14 to August 16 at the bank's branches, Raigad Bhavan and Kharghar railway station.
The flats will be allotted through a draw.
Work on the project has already begun and possession is likely to be given by end of 2011.