Cidco plot deal fails to fetch target

By Accommodation Times (

The City and Industrial Development Corporation (Cidco) recently has conducted a bid for sale of six plots at Ghansoli in Navi Mumbai in which 45 bidders had participated. In that bid CIDCO was unable to meet the target and just have earned Rs112 crore revenue from the sale of these six plots. For plot No. 15 (2,343 sqmt), the highest bidder was Shakti Enetrprises, which quoted Rs 1.11 lakh per sqmt, while plot No 17 (2,021 sqmt) was sold at Rs93,060 per sqmt.
Plot No 18 (2021 sqmt) was bought by one Dhirendra Vora at Rs93,060 per sqmt and plot No. 19 (2,021 sqmt) was bagged by Pyramid Infra for Rs85,999 per sqmt. Plot Nos. 20 (2,021 sqmt) and 21 (2,277 sqmt) were bought by Tulsi Constructions at Rs78,600/sqmt and Rs81,234/sqmt, respectively.
The general secretary of the Maharashtra Chamber of Housing Industry (Navi Mumbai) Manohar Shroff said that “plots were sold on reasonable rates,” he also added that, due to downturn in property market has also the big reason for low bids.
Recently the same plots has been rated approx Rs.2L per sqmt, but deal haven’t finalized as realtors setback said prices are too much high.

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