AFFORDABLE HOUSING CIDCO’s schemes, that have been popular with the middle and lower middle classes, are expected to cost Rs 6-10 lakh ( ) Purchasing a flat in Navi Mumbai for the lower middle class is difficult these days. With CIDCO flats, one can hope to get a good flat for decent price S U N I L S U R YAVA N S H I , Turbhe resident CIDCO WILL COME UP WITH 1,344 FLATS MASS HOUSING SCHEME AT ULWE. APPLICATIONS EXPECTED TO BE GIVEN OUT FROM MARCH
The excitement is building up. There is anticipation among thousands of hopefuls looking forward to their dream flat. This despite the fact that a very small percentage of them will actually get them.
Seven years after its Gharaunda housing scheme of Ghansoli and two years after Vastu Vihar and Celebration, mass housing schemes in Kharghar, the City and Industrial Development Corporation (CIDCO) is set to offer another mass housing scheme, this time in Ulwe.
CIDCO’s housing schemes, that have become rare in the past few years, have always attracted phenomenal response.
It is not expected to be any different this time. In fact, market sources say the response this time could be record breaking.
Said Manohar Shroff, director of Bookproperty.net, leading property consultants: “CIDCO is offering smaller flats and its rates are known to be quite reasonable. Its carpet area is larger while the super built up area is less. Overall it a good package for those looking for budget flats.”
“The scheme is sure to get a good response from this segment as there is greater security in CIDCO’s projects and the quality too has improved over the years,” he added.
Stating that they are expecting an overwhelming response, CIDCO General Manager (IT & Special Projects) D. L. N.
Murthy said: “CIDCO has always laid stress on affordability and quality. Our previous schemes have proved it. We are confident of a good response from the prospective buyers this time as well.”
Assuring that there will be wide publicity and that everyone will get an equal chance, Murthy said: “We shall ensure that everyone gets an opportunity to apply for the scheme. The booklets will be sold from various designated offices and will also be available on the Internet.
We shall give enough time for submitting the applications as well.”
Murthy said though the number of flats is 1,344, the number of applications would far exceed it.
Hence, the allotment will be through a very transparent and credible draw process.
PREVIOUS RESPONSE The mass housing schemes Vastu Vihar (KH I and KH II) for the economically weaker sections and lower income group and Celebration, (KH III and KH IV) for the middle income group (MIG) were offered in 2008. The projects had come up in Sector 16 and 17 of Kharghar. CIDCO has initiated possession of the flats.
On offer were 2,144 flats of areas 300 sqft to 1,000 sqft at rates starting from Rs 1,900 per sqft to Rs 3,450 per sqft.
The property rates in Kharghar at the time were Rs 3,500 per sqft to Rs 4,750 per sqft.
At that time 53,000 applications were taken by the people on the first day of offer itself. While around one lakh applications were sold, CIDCO received 30,372 applications for all four types of tenements.
The response for the Vastu Vihar Housing Scheme was more as CIDCO had kept a lower rate between Rs 1,900 and Rs 2,300 per sqft.
THE HOPEFULS “I have been living in a rented flat for years now,” said Shahjehan Chougule, Koparkhairane resident.
“Some flats that I wanted to purchase turned out to be risky propositions as the documents were not proper. This mass housing scheme is an excellent opportunity as there is no risk involved in terms of project completion and title clearance,” he added.
According to Vidya Thorat, Vashi resident, it is not easy getting loan from banks.
“To get a loan for flats on re-sale and by private builders is a problem. There are lot of formalities to be done. That will not be the case with a CIDCO housing scheme. I am definitely going for it,” she said.
February 9th, 2010 at 2:34 PM
I want to buy flat in affordable housing cidco’s schemes in navi mumbai.