CIDCO cancels allotment of 16 Navi Mumbai plots worth ₹2,000 crore: 5 key reasons
Mumbai Real Estate Update: The CIDCO, the special planning authority for Navi Mumbai, has cancelled the allotment of 16 plots due to non-compliance by allottees
The City and Industrial Development Corporation (CIDCO), the Special Planning Authority (SPA) for Navi Mumbai, near Mumbai, has cancelled the allotment of 16 plots valued at ₹2,000 crore. According to a Hindustan Times report, the action targets developers and buyers who failed to commence construction on these plots despite multiple extensions and notices.
CIDCO had allotted these land parcels for residential and commercial development. However, since no construction activity has taken place, the authority has taken back control of the plots.
Here are five key things to know about CIDCO's decision to cancel the 16 plot allotments:
1) Why did CIDCO cancel the plot allotments?
Under the Navi Mumbai Disposal of Lands (Amendment) Regulations, 2008, CIDCO leases land through residential, retail, and commercial development auctions. Each plot has a specified construction timeline and a deadline to obtain an occupation certificate. In the case of these 16 plots, the buyers failed to meet the deadlines, even after amnesty schemes and repeated notices—prompting CIDCO to cancel the allotments.
2) Where are the cancelled plots located?
The 16 cancelled plots are in prime Navi Mumbai nodes: Airoli, Nerul, Belapur, Kharghar, and Dronagiri. With the upcoming Navi Mumbai International Airport (NMIA), CIDCO sees renewed potential in monetizing and developing these land parcels.
3) What is the value and size of these CIDCO plots?
The 16 plots collectively span over 62,000 square meters (around 6.60 lakh square feet) and are valued at approximately ₹2,000 crore, CIDCO officials said.
4) Will more plot allotments be cancelled?
CIDCO officials say more cancellations are likely. “We are currently reviewing leased plots with no construction. Further cancellations and auctions will follow in the coming months,” a CIDCO official told the Hindustan Times.
5) What are the current land prices in Navi Mumbai?
According to local brokers, land prices in areas like Kharghar range from ₹25,000 to ₹30,000 per sq ft. However, most land in Navi Mumbai is leased from CIDCO, with limited private ownership available in the open market.
In March 2025, Godrej Properties Ltd (GPL) signed a ₹717 crore agreement to lease 6.54 acres in Kharghar on a 60-year term, highlighting the growing developer interest in Navi Mumbai real estate.
