City and Industrial Development Corporation (CIDCO) on Monday has earned Rs 101 crore by leasing four tender land plots to highest bidders. The development authority of Navi Mumbai received more than the reserve price for all the four plots. The auctioned plots are located in sector 5 of Pushpak Nagar area of Navi Mumbai. Every plot measures 3,290 sq mt and the reserve price of the plots was Rs 55,216 per sq mt. All the four plots had an FSI of 2 and can be used for commercial, residential, and even commercial-cum-residential purposes. While plot number 2, had the highest bidder bidding via e-auction at Rs 86,216 per sq mt, plot number 19 saw the highest bid of Rs 68,216 per sq mt. Plot number 21 witnessed the highest bid of Rs 78,216 per sq mt, while plot number 39 fetched the development authority Rs 76,221 per sq mt. Bids for the plots were invited via two modes — e-tender and e-auction process. For every plot there was a minimum of three bidders, except for plot number 21 for which had a total of four bidders. Cidco, which is the planning authority for Navi Mumbai region, has been putting up plots in various nodes of the town up for long lease where developers acquire these plots from CIDCO and then construct residential or commercial projects on them. A statement from CIDCO stated that they were happy with the response and the total revenue that CIDCO generated by the leasing these plots is Rs 101 crore. Plot number two got them the revenue worth Rs 28.36 crore, while it earned Rs 22.44 crore from plot number 19. Plot number 21 generated a revenue of Rs 25.73 crore and plot number 39 generated Rs 25.07 crore, thus, taking the total revenue generated to Rs 101 crore. Haresh Chedda, president of Builder Association of Navi Mumbai said, “The plots have got a decent response. They are neither too high nor too less; the rate we have received is average as compared to the rate of the plots in this area.” Meanwhile, the development authority has floated a lottery of close to 10,000 homes in Navi Mumbai. The lottery is scheduled to be held on October 17. It has also announced the construction of 1.09 lakh homes in Sanpada under Pradhan Mantri Awaas Yojna (PMAY). Better Price

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