The City and Industrial Development Corporation (CIDCO) has announced the home prices under its Cidco Lottery 2024 mega housing scheme, "My Preferred CIDCO Home." For the Economically Weaker Section (EWS) category, home prices range from Rs 25.1 lakh to Rs 41.9 lakh, while the Low-Income Group (LIG) category features prices between Rs 40.3 lakh and Rs 97.2 lakh, depending on the size of the flat.
Despite the scheme targeting affordable housing, the prices of homes in prime locations like Kharghar and Vashi have surprised many due to their high costs. For example, an LIG flat with a 322 sq. ft. carpet area near the Truck Terminal in Vashi is priced at Rs 74.1 lakh. Similarly, an LIG flat with a 540 sq. ft. carpet area near Kharghar Railway Station is priced at Rs 97.2 lakh.
Under the scheme, 26,000 homes have been made available in locations including Vashi, Baman Dongri, Kharkopar, Kharghar (P), Kharghar (Po) (Taloja), Mansarovar, Khandeshwar, Panvel, and Kalamboli.
CIDCO faced criticism for not disclosing the prices earlier, despite granting three extensions to accommodate growing demand. This lack of transparency frustrated many prospective buyers, as they could not make informed decisions. After repeated calls for clarity, CIDCO finally revealed the prices on Tuesday night via social media.
Under the EWS category, the most affordable homes are in Taloja, with flats in Sector 28 priced at Rs 25.1 lakh for a 322 sq. ft. carpet area, and similar flats in Sector 29 priced at Rs 26.1 lakh. In Kharghar Sector 14, EWS homes near the bus depot are priced at Rs 48.3 lakh. In Ulwe, flats near Kharkopar Railway Station cost Rs 38.6 lakh, while homes near Bamandongri Station are priced at Rs 31.9 lakh.
In the LIG category, a flat with a 322 sq. ft. carpet area near the Panvel bus terminus costs Rs 45.1 lakh. In Ulwe, a similar-sized flat in Kharkopar East is priced at Rs 40.3 lakh.Navi Mumbai CIDCO Sample Flat
Documents Required to Apply
Aadhaar number and Aadhaar card.PAN Card. Mobile number (linked with Aadhaar number).Email ID.Co-applicant details – if applicable (Aadhaar and PAN).Photograph (not older than 90 days from the registration date)
Although the scheme aims to make housing more accessible, the steep prices in certain locations have sparked concerns about affordability, particularly in categories like EWS and LIG that are meant to cater to lower-income groups. However, a homebuyer under the EWS category will get Rs 2.5 lakh subsidy on the announced price.