1,344 new flats for Rs 6-10 lakh each | mumbai | Hindustan Times
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1,344 new flats for Rs 6-10 lakh each

mumbai Updated: Jan 26, 2010 01:11 IST
G Mohiuddin Jeddy
G Mohiuddin Jeddy
Hindustan Times
Highlight Story

After the runaway success of its mass housing scheme in Kharghar, town planning agency CIDCO is readying another such scheme, to be opened in March.

On Monday, Chief Minister Ashok Chavan distributed keys to the Kharghar houses, and performed the bhoomi puja for the new scheme planned at Sector 19A in Ulwe, near CBD Belapur. Flats in this scheme are expected to cost Rs 6-10 lakh.

CIDCO’s housing schemes have traditionally been popular with the middle and lower middle classes as they offer housing affordable enough for them.

Dr D.L.N. Murthy, CIDCO general manager (IT &Special Projects) said: “This scheme will have 1,344 flats housed in ground + 7-storey buildings with a lift. Of those, 800 flats will measure 323.35 sq ft each, and 544 flats will measure 451.66 sq ft.”

Work on the project has been awarded to BG Shirke, CTPL. “We plan to offer the flats to the public from March. Possession is likely to be given by 2011-end,” Murthy added.

Sources said, factoring in both land and construction costs, flats are likely to be priced around Rs 2,100 per sq ft. Pricing will differ based on the floor on which the flat is located, the higher floors going for higher rates.

“Since the number of applications for houses in the new scheme is expected to exceed the number tenements on offer, the allotment will be through a draw of lots. The entire process will be transparent,” said Murthy. He said besides pricing it attractively, CIDCO aims for construction standards comparable to international benchmarks.