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CIDCO offers Palm Beach Road flats to VIPs at less than half the market rate

Maharashtra legislators, judges, and bureaucrats may be able to purchase luxury apartments in Navi Mumbai at less than half the market rate through CIDCO's 'Maha Nivas' housing scheme. The scheme comprises 350 apartments priced at ₹2.45 crore and ₹3.47 crore for carpet areas of 1270 sqft and 1800 sqft respectively. The market price in the area is ₹30,000-60,000 per sqft. CIDCO has already received 270 applications and expects more before the scheme closes on November 12. Real estate developers and observers are upset with the scheme, with some threatening legal action.

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Updated on Oct 26, 2023 08:22 AM IST
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