CIDCO Creates New Benchmark with Record-Breaking Plot Sale
Sanpada Witnesses Highest Price per Square Meter
In a recent bidding process, the City and Industrial Development Corporation of Maharashtra (CIDCO) has successfully sold a plot in Sanpada, Navi Mumbai, for a staggering Rs 3.39 lakh per square meter, setting a new record in the process.
Bid Details:
- Plot Size: 3,050 square meters
- Location: Sector 13, Sanpada, Navi Mumbai
- Type: Residential Cum Commercial Plot
- Bidder: Nivasti Developers LLP
- Total Earned by CIDCO: Rs 103 crore
Market Reaction
Some developers, among the 20 who participated in the bidding, expressed concerns that the plot's price could have been higher, considering its location in one of Navi Mumbai's most developed areas.
- Haresh Chedda, Secretary, Builders’ Association of Navi Mumbai:
“The plot does not fall under the proposed international airport Zone and can be used for high-risers.”
Other Bidding Outcomes:
Nerul Plots
- Previous Highest Price (2015): Rs 2.82 lakh per square meter for a 1601.78 square meter plot in Nerul, Sector 44 A, sold to Shree Shawan Builders at Rs 2,82,333 per square meter.
- Recent Bidding:
- Plot 1: 1,456 square meters, sold at Rs 1,64,000 per square meter.
- Plot 2: 1,975 square meters, sold at Rs 1,73,600 per square meter.
Additional Sanpada Plot
- Bidder: Akshar Developers
- Plot Size: 5,122 square meters
- Location: Sector 13, Sanpada
- Price: Rs 3,07,555 per square meter
CIDCO's Proceeds
- Total Bids Received for 4 Plots: 57
- Total Earned from Leasing these Plots: Rs 319 crore
- Dr. Mohan Ninawe, Senior Public Relationship Officer, CIDCO:
“We have received a total 57 bidding for the four plots located in Nerul and Sanpada. CIDCO would receive Rs 319 crore from leasing these plots.”