CIDCO’s decision to levy very high development fee for permission to develop projects in Navi Mumbai Airport Influence Notified Area (NAINA) will be detrimental to the development of the area, according to Rajesh Prajapati, managing director of Prajapati Constructions.
The exorbitant development charges will tender affordable housing into a joke as the cost of housing is bound to double. The development fee will translate into cost hike by Rs 500/- a square foot, Prajapati said.
As it is, the cost of housing is very high in and around Navi Mumbai and home buyers are looking at outskirts of the city for affordable housing, he said and argued that the new levy is bound to make affordable housing shortage even more acute.
“We hope better sense to prevail and CIDCO will reconsider their decision, most importantly in the interest of home buyers who have very few options and nowhere to go,” he said.
Prajapati drew the attention of CIDCO to widespread illegal construction going on in NAINA area and said the planning authority’s new move will further aggravate the problem and innocent buyers will be hit hard.
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