CIDCO nets Rs 112 cr from 6 ghansoli plots

The City and Industrial Development Corporation (CIDCO) has netted Rs112 crore from the six plots it had put up for sale on Tuesday.

The City and Industrial Development Corporation (CIDCO) has netted Rs112 crore from the six plots it had put up for sale on Tuesday.

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The highest amount quoted was Rs26 crore, for a 2,343 square metre plot. The other plots fetched between Rs15-Rs18 crore each. All the plots are located at Ghansoli, an important node in Navi Mumbai, that is being developed by CIDCO. The plots are sold in the range of Rs10,000 per square foot.

Manohar Shroff, secretary, Maharashtra Chambers of Housing Industry, Navi Mumbai, felt the rates were reasonable. “Unlike last month, when unrealistic rates were quoted, this time the builders have bought plots for a reasonable amount,” he said.

Last month, CIDCO gained more than Rs1,000 crore by hiving out 10 plots in various areas like Khargar, Panvel and Ghansoli. The MCHI wants CIDCO to hive out more such plots in future. “More land would mean more houses and this would help control the prices,” said Shroff.