CIDCO housing scheme: 1 lakh applications sold | mumbai | Hindustan Times
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CIDCO housing scheme: 1 lakh applications sold

mumbai Updated: Jul 19, 2010 01:07 IST
G. Mohiuddin Jeddy
G. Mohiuddin Jeddy
Hindustan Times
Highlight Story

The City and Industrial Development Corporation's (CIDCO's) mass housing scheme at Ulwe, Unnati Gruhanirman Yojana, has received a massive response with more than one lakh applications purchased till Friday.

The forms will be sold till August 4. Since the acceptance of forms began on Wednesday, more than 800 applications have been received.

"We are pleased with the response. It proves people trust CIDCO. We have brought flats for the common man," said CIDCO PRO Mohan Ninawe.

The pricing has been a major factor for the response.

Ganesh Gavhane of Shree Trimurti Enterprises, who has been into real estate business in Ulwe said: "The rates being quoted by private builders start from Rs 2,851 for four-storey buildings, Rs 3,000 per sq-ft for seven-storey buildings and Rs 3,500 to Rs 3,600 for 12-storey buildings."

"Those who get the flats will benefit a lot. It will be a good investment. It has boosted the area's worth because of the publicity it has received," he added.