12.7.15

Somewhere in Navi Mumbai....

Three Cidco tender plots in sector 23, Kharghar, were sold at very high rates of Rs.1.61 lakh per sq metre, Rs.1.71 lakh per sq metre and Rs.1.84 lakh per sq metre respectively on Thursday . These are the highest land sale rates so far for the Kharghar node, earning the Cidco Rs.439 crore in this deal for residential-cum-commercial plots. “In May this year, a Nerul residential-cum-commercial plot had gone for a record Rs.2.82 lakh per sq metre. So, today's tender plot sale is the highest in Kharghar node. It shows that there is great demand for plots in this area,“ said the Cidco spokesperson Mohan Ninawe.
All the three Kharghar plots, near ISKCON temple, are of areas admeasuring 8401 sq m, 8694 sq m and 8351 sq m. “The three plots were won by the highest bidder, Bhagwati Group of Developers Pvt Ltd. We feel that these are rather high rates for buying land in Kharghar. The developer will now have to make the first 50% of the payment to Cidco in the next 30 days,“ said Manohar Shroff, secretary of the Navi Mumbai chapter of Maharashtra Chamber of Housing Industry (MCHI).
Another city developer, Mahesh Hemrajani, noted: “These high land rates for Cidco tender plots at Kharghar show that Na vi Mumbai has now become a good housing destination. However, people prefer to buy ready possession flats out of fear that an upcoming tower may not be completed on time.“
Announcement of proposed Navi Mumbai international airport project near Panvel has also pushed up realty status of the satellite city.

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