CIDCO Auctions 30 Leasehold Plots Near Navi Mumbai International Airport
The City and Industrial Development Corporation (CIDCO), the planning authority for several parts of Navi Mumbai, has put up 30 leasehold plots for auction near the upcoming Navi Mumbai International Airport (NMIA). These include eight bungalow plots in Kharghar, with a combined base price of over ₹40 crore.
Of the 30 plots, eight are reserved for bungalows, and another eight are reserved for residential buildings. Four plots are designated for mixed residential and commercial use, four for commercial use, while the remaining plots are allocated for storage and warehouse purposes.
In a notice issued on September 24, CIDCO announced that it will conduct an e-auction of 30 plots in several nodes of Navi Mumbai. The notice issued by CIDCO states that the plots will be leased for residential, commercial, bungalow, and service industry purposes, followed by storage and warehouse purposes.
The 30 plots are located in various nodes, including Kharghar, Airoli, Nerul, Dronagiri, New Panvel, Kopar Khairane, Sanpada, and Kamalboli. The plots are located about 30 to 45 minutes from the upcoming Navi Mumbai International Airport, making them highly attractive for both residential and commercial developments.
A 41,994 sq m plot, with a reservation for both residential and commercial use, is the costliest plot put up for auction by CIDCO at a base reserve price of ₹3.51 lakh per sq m. The eight bungalow plots are put up for auction at a reserve price of ₹1.25 lakh per square meter, measuring between 400 and 500 square meters in area.
The online e-auction will be conducted on October 16, and the results will be announced on October 17. The application for the CIDCO plots can be made by the general public on eauction.cidcoindia.com.
Prime Minister Narendra Modi inaugurated the Navi Mumbai International Airport on October 8, and commercial operations are expected to begin by December 2025. The proximity of these plots to the new airport is expected to boost the real estate market in the region, making them highly sought after by developers and investors alike.
