CIDCO (City and Industrial Development Corporation) is the planning authority for Navi Mumbai. The organization has already garnered 156 bids for auctioning 13 land parcels in Navi Mumbai. The Nerul land parcel has drawn the highest bid close to Rs. 2.12 lakh per sq. metre in terms of value. The three land parcels at Ghansoli were also sold at high bids of Rs. 1.89 lakh, Rs. 1.52 lakh and Rs. 1.73 lakh per sq. metre.
Amongst 5 land parcels in Kopar Khairane, the winning bid was around Rs. 91, 999 per sq. metre for the 9/25 plot. The highest bid of Rs. 1.53 lakh per sq. metre was seen in case of the 9/33 plot. The high prices in the bidding were majorly due to the plethora of infrastructure projects planned in the region including the Trans-Harbour Link and Navi Mumbai Airport. RERA has introduced restrictions with regard to taking payment from buyers in case of phase-wise development. However, the demand has not turned sluggish here and has instead gone up due to the number of infrastructure projects nearby.
New Panvel had three land parcels which garnered bids of Rs. 68, 000, Rs. 68, 500 and Rs. 88, 888 per sq. metre as well. This is one of the largest land auctions in Maharashtra ever since the implementation of RERA. There are 5 plots in Kopar Khairane, 4 in New Panvel, 1 in Nerul and 3 in Ghansoli. The Nerul land drew the biggest bid of Rs. 2.1 lakh per sq. metre. This high price was majorly attributed by experts to fast implementation of various infrastructural projects in the vicinity.
