3 Ghansoli land plots in Navi Mumbai fetch Rs 221 crore
Sold to the highest bidders for rates as high as Rs 1.61 lakh per sq metre
Aug 07, 2015
Source : Toi
NAVI MUMBAI: Three land tender plots of Cidco in prime locality of Ghansoli, sector 8, were on Thursday sold to the highest bidders for rates as high as Rs 1.61 lakh per sq metre, fetching the state agency a total revenue of Rs 221 crore through these sales.

Cidco spokesperson, Mohan Ninawe, told "Ghansoli is a relatively new and developing node of Navi Mumbai. So we are happy that the three plots of areas ad measuring 4812 sq metres each were sold for the high rates of Rs 1.61 lakh per sq metre, Rs 1.54 lakh per sq metres and Rs 1.45 lakh per sq metres today. This also shows that the node is slowing gaining popularity for investors."

All the three plots are for residential-cum-commercial use, and were successfully bidded by Bhumika Enterprises developers who procured two of the plots while the third was taken by Welkin Developers.

In May this year, a Cidco land plot in Nerul node had fetched the record high bidding rate of 2.82 lakh per sq metres. Nerul is an older and much more developed node of the satellite city.

"The fact that even a smaller region like Ghansoli is fetching high land rates shows that Navi Mumbai real estate is now much in demand. The state proposed bridge link over the sea between Vikhroli and Ghansoli, may be one of the factors why land is becoming expensive even here," said the secretary of Navi Mumbai Chapter of Maharashtra Chamber of Housing Industry (MCHI) Manohar Shroff.

He, however, reiterated that Cidco, which is the largest land holder, must release more land in bulk sales in order to stabilize the real estate market in the satellite city.


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