CIDCO Auctions 30 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 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 costliest plot is a 41,994 sq m plot, with a reservation for both residential and commercial use, 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. The plots are located about 30 to 45 minutes from the upcoming Navi Mumbai International Airport.

Prime Minister Narendra Modi inaugurated the airport on October 8, and commercial operations are expected to begin by December 2025. The inauguration of the airport is expected to significantly boost the real estate market in Navi Mumbai, making these plots a lucrative investment opportunity.

CIDCO, a government body, is responsible for the planning and development of several areas in Navi Mumbai. The auction of these plots is part of CIDCO's broader strategy to develop the region and attract investment. The proximity to the new airport is expected to enhance the value of these properties and attract both residential and commercial buyers.

The Navi Mumbai International Airport is a significant infrastructure project that is expected to reduce congestion at the existing Chhatrapati Shivaji Maharaj International Airport in Mumbai. It will also facilitate better connectivity and attract more businesses to the region, further boosting the real estate market.

For those interested in these plots, the e-auction process is straightforward. Interested parties can visit the e-auction portal, review the available plots, and submit their bids. The e-auction provides a transparent and efficient way to acquire these valuable plots in a rapidly developing area.

The inauguration of the Navi Mumbai International Airport and the auction of these plots by CIDCO are significant milestones in the development of Navi Mumbai. They are expected to drive economic growth and create new opportunities for both investors and residents in the region.