Navi Mumbai CIDCO Lottery 2024: Prices Soar Beyond Common Man's Reach, Range from ₹25 Lakh to ₹97 Lakh

With just two days remaining for online application registration, CIDCO has revealed the prices for 26,000 homes under its housing scheme across various Navi Mumbai nodes. Announced on Tuesday night, the prices range between ₹25 lakh and ₹97 lakh, bringing some clarity to prospective buyers. However, the unexpectedly high prices have left many aspiring homeowners disheartened, as they appear out of reach for the average buyer.

Background

On October 11 last year, CIDCO launched the Mazi Pasandache CIDCO Ghar scheme aimed at Economically Weaker Sections (EWS) and Lower Income Groups (LIG). This scheme includes housing projects across key nodes such as Taloja, Kharghar, Bamandongri, Kharkopar, Kalamboli, Panvel, and Vashi.

Despite extending the registration deadline three times, now set to close on January 10, CIDCO had not disclosed the prices until now. This delay left buyers unsure of which project to apply for, causing significant confusion. The last-minute announcement might result in a rushed application process, adding to the challenges faced by buyers.

Affordable in Taloja, Expensive in Kharghar

Among the 26,000 homes, Taloja offers the most budget-friendly options, starting from ₹25 lakh. Taloja Sector 28 has the lowest-priced units at ₹25 lakh, while Kharghar Sector 2A features the highest-priced homes at ₹97 lakh. Vashi’s truck terminal homes are also on the higher end, priced at ₹74 lakh.

Node-Wise Price Breakdown:

Taloja Sector 28: ₹25.1 lakh

Taloja Sector 39: ₹26.1 lakh

Taloja Sector 37: ₹34.2 lakh

Kharghar Sector 2A (Railway Station): ₹97.2 lakh

Kharghar Bus Depot: ₹48.3 lakh

Kharkopar 2A & 2B: ₹38.6 lakh each

Kharkopar East: ₹40.3 lakh

Kalamboli Bus Depot: ₹41.9 lakh

Panvel Bus Terminal: ₹45.1 lakh

Mansarovar Railway Station: ₹41.9 lakh

Khandeshwar Railway Station: ₹46.7 lakh

Bamandongri: ₹31.9 lakh

Vashi Truck Terminal: ₹74.1 lakh

While Taloja provides the most affordable options, areas like Kharghar and Vashi have set prices that may deter middle-income buyers, raising concerns about affordability for the common man. The CIDCO housing scheme now faces scrutiny for its pricing, which many believe falls short of its goal of providing accessible housing.