CIDCO, sold total 8 land parcels in Navi Mumbai in an auction for total Rs 256 crore on Thursday, said two people familiar with the development. City and Industrial Development Corporation of Maharashtra Ltd (CIDCO), which is Navi Mumbai’s development authority auctioned a commercial plot in CBD Belapur and seven residential-cum-commercial usage plots at Nerul.
A CIDCO official confirmed the bids and mentioned that highest bids for these land parcels were received in the range of Rs 1.55 lakh to 2.05 lakh per sq meter.
Rajesh Prajapati, MD of Prajapati Constructions commented that the bids offered for these plots go on to show that various infrastructure developments across Navi Mumbai, especially the upcoming Navi Mumbai International Airport is being priced in.
Cidco had sold land parcels in Nerul for around Rs 2.82 lakh per sft in May 2015, the highest bid price for any land parcel in Navi Mumbai.
Read more: Economic Times
