In a a move that would substantially increase the social housing stock in Mumbai's satellite town of Navi Mumbai, the City and Industrial Development Corporation (CIDCO) will now use the sprawling 100 hectare plot, that was previously allotted for a Special Economic Zone (SEZ) by Videocon group, to achieve its previously decided target of constructing 10,000 new low cost homes.
This is in view of the high demand for such homes that sees more than 50 aspirants for every house that is released through CIDCO's lottery system.
This is in view of the high demand for such homes that sees more than 50 aspirants for every house that is released through CIDCO's lottery system.
Around 60 hectares of this land lies in Dronagiri and the rest in Karanjade and Kamothe, all in close proximity of the proposed Navi Mumbai International Airport making it a plum property recently.
Sanjay Bhatia, Managing director, CIDCO, which is the planning agency for Navi Mumbai, said that the plot will now be used to construct residential colonies for those from low income groups (LIG) and economically weaker sections (EWS).
THE INDIAN EXPRESS
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