The City and Industrial Development Corporation (CIDCO) of Maharashtra has planned to sell 90,000 houses in Navi Mumbai through its mega housing scheme which will form a part of Pradhan Mantri Awas Yojana (PMAY), the central government scheme that is aimed at providing 'housing for all' by 2022, a DNA report said.
Chief engineer at CIDCO (special projects) told DNA that these houses will be made available under the housing scheme through a lottery system by the end of July or in August, this year. The report also said that these flats will be sold under the economically weaker section (EWS) and low-income group (LIG) categories of the PMAY scheme.
The prices of these houses will be 20 to 30 percent lower than those offered by private developers in the city. The CIDCO also plans on keeping the payment process flexible for buyers so as to enable them to make payment as the construction of the houses progress.
These houses are planned to be built in Navi Mumbai's Taloja, Bamandongri, Juinagar, Kharghar, Panvel, Kharkopar and Kalamboli locations, the report said. Out of the 90,000 flats, 53,000 will be constructed under the EWS category and 37,000 in the LIG category.
Real estate in Mumbai and its metropolitan area known to be expensive. Houses constructed by the CIDCO are sold at a cheaper rate in comparison to private players. For example, it has sold its houses at Rs 6,000 per sq ft as against Rs 9,000/sq ft by a private developer.