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The homes are located successful areas specified arsenic Vashi, Taloja, Kharghar, Khandeshwar, Panvel and Ulwe, which are adjacent to commercialized hubs and railway stations. (Photo: cidco.gov)
Despite 2 extensions and a publicity blitz encouraging much radical to apply, lone 22,000 applicants person shown involvement successful the City and Industrial Development Corporation of Maharashtra (CIDCO) wide lodging scheme, which offers 26,502 units successful Navi Mumbai. The lacklustre effect is attributed to the pricing of the homes, which scope from Rs 25 lakh for the Economically Weaker Section (EWS) class to Rs 97 lakh for Low-Income Group (LIG).
Launched successful October nether the Pradhan Mantri Awas Yojana, the ‘My Preferred CIDCO Home’ strategy aims to conscionable the increasing request for affordable lodging successful the state. The homes are located successful areas specified arsenic Vashi, Taloja, Kharghar, Khandeshwar, Panvel and Ulwe, which are adjacent to commercialized hubs and railway stations.
CIDCO designed a lottery strategy wherever radical use online and deposit a refundable amount: Rs 75,000 for EWS, Rs 1.5 lakh for a 1 BHK, and Rs 2 lakh for a 2 BHK. However, contempt expectations of beardown interest, CIDCO had to widen the submission deadline doubly owed to debased participation. With the last deadline of January 31 present over, lone 22,000 radical person paid the earnest wealth for the lottery for 26,000 homes.
Interestingly, lodging lotteries successful Mumbai conducted by agencies similar the Maharashtra Housing and Area Development Authority (MHADA) pull acold amended responses. For example, MHADA’s caller lottery successful August 2024 saw implicit 100,000 applicants for 2,000 homes.
Experts judge the determination and pricing of CIDCO’s projects whitethorn person contributed to the lukewarm response. The prices of homes scope from Rs 25 lakh (EWS) to Rs 97 lakh (LIG), with carpet areas ranging from 322 to 540 sqft. EWS applicants indispensable gain up to Rs 6 lakh annually, portion LIG applicants person nary income bounds but cannot ain a location successful Navi Mumbai.
Rajesh Prajapati, laminitis and MD of Prajapati Constructions Ltd, sees the pricing operation arsenic a cardinal contented for the debased response. He notes that CIDCO offers homes priced betwixt Rs 25 lakh and Rs 48 lakh for EWS, contempt the income bounds of Rs 6 lakh annually. Prajapati believes for this income group, homes should beryllium priced person to Rs 20 lakh to beryllium much affordable.
In Navi Mumbai, the ongoing improvement of the caller planetary airdrome has brought astir a surge successful caller lodging options.
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Dinesh Doshi, president of NAREDCO, Raigad, a existent property apex body, said, “CIDCO was primitively established with the purpose of providing unfastened spaces, plots, and larger homes. However, it has progressively shifted towards high-density vertical housing, akin to what we spot successful Mumbai, which has diminished its unsocial appeal. With respective builders present offering prime homes and a wide scope of options, homebuyers person plentifulness of choices. This could beryllium a cardinal crushed wherefore the effect to CIDCO’s wide lodging strategy hasn’t been arsenic overwhelming.”
CIDCO, however, enactment up a brave front, stating that lone genuine buyers person evinced involvement successful the project. “Filling retired an exertion is free, and galore radical often taxable aggregate entries done antithetic mediums. But erstwhile it comes to paying the EMD, lone superior buyers travel through,” CIDCO PRO Priya Ratambe said, adding that this signifier is communal successful wide lodging schemes. She added that a akin inclination was witnessed during CIDCO’s 2014-15 wide lodging lottery, which besides drew a comparable fig of confirmed buyers for astir 15,000 homes.
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