CIDCO to construct 90,000 houses worth Rs 18,000 Cr

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By Rohit Sharma


City and Industrial Development Corporation (CIDCO) has undertaken a massive housing project of 89,771 houses in Navi Mumbai along with buses, truck terminals, and adjoining railway stations.

On Tuesday, PM Modi did Bhoomi Pujan of Rs 18,000 crores mass housing project which is undertaken by CIDCO.

From housing scheme of 89,771 households, 53,493 houses will be constructed for economically weaker and  36.288 houses for the low-income group. The scheme has been sanctioned under the Prime Minister’s Housing Scheme and beneficiaries of economically weaker sections are entitled to Rs 2.5 lakhs and under-income group are eligible for the loan under the CLSS (Credit Linked Subsidy Scheme) of Rs 2.67 lakhs.

According to officials, “Estimated cost for this housing project is about Rs 18,000 crores. This will be the largest housing project in the history of CIDCO till date. CIDCO has introduced such innovative ideas for constructing houses for economically weaker sections (EWS) and low-income groups (LIG) using foreclosures in the railway stations, open spaces on trucks and interstate bus terminal buildings, and adjacent railway stations.”

It said that this scheme will be completed within 3 years.

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